This year 2024, there is a boom in the IPO market. Issues of many companies have been launched one after the other and many companies are preparing to launch their IPOs. One of these companies is Tolins Tyres, this tire manufacturing firm has planned to raise Rs 230 crore from the market through its IPO. Tolins Tyres IPO will open on September 9 and money can be invested in it for three days. Let us know what is its price band and by investing how much money can you become a partner in this company?
Fresh shares worth Rs 200 crore will be issued
Tolins Tyres IPO is going to open next week. The company has announced its price band and lot size for this. Under this issue, Tolins Tyres will issue 10,176,992 shares with a face value of Rs 5. Of these, 8,849,558 fresh shares worth Rs 200 crore will be issued, while 1,327,434 shares worth Rs 30 crore will be offered for bidding through Offer for Sale (OFS).
You can invest money from 9th to 11th September
The IPO of this Kerala based tyre company will open for general investors on 9th September and can be subscribed till 11th September. If we talk about the price band, then Tolins Tyres IPO Price Band has been fixed at Rs. 215-226. This is a book built IPO and its listing will be on BSE-NSE. Before opening for retail investors, it will be opened for anchor investors on 6th September.
Become a partner by investing this much money
If you want to ensure your share in the profit of this company, then you need to have about Rs 15,000 for this. Actually, Tolins Tyres has fixed the lot size of 66 shares under this IPO. According to this, the investor will have to bid for at least this many shares and for this he will have to invest Rs 14,916. The maximum lot limit is 13 and the investor will have to invest Rs 193,908 for 858 shares.
In Tolins Tyers IPO, 50 per cent is reserved for Qualified Institutional Buyers (QIB), 35 per cent for Retail Investors and 15 per cent for Non-Institutional Investors (NII).
When will it debut in the stock market?
Tolin Tyres had submitted documents for the issue with SEBI on 16 February. It gives information about the use of the money raised through the IPO. According to this, the money raised from the issue will be primarily used to repay the company’s debt and for long-term capital needs. After closing on September 11, the date of listing of its shares has been fixed as September 16, 2024.
The company exports to 19 countries
The tyre manufacturer manufactures tyres for light commercial vehicles under the Tolins Tyres brand. The company has a big business in the country as well as abroad. The tyres manufactured by the company are exported from the Middle East to African countries. According to the report, Tolin Tyres has business in 19 countries of the world and till March 2023, the share of exports in the company’s income was around 9 percent.
(Note- Before making any kind of investment in IPO or stock market, please take advice from your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)