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Tolins Tyres IPO
Price Band
₹215.0–226.0
Issue Size
₹230.0 Cr
Lot Size
66 shares
Min Investment
₹14,916
GMP
+₹30.0 (13.27%)
Issue Price
₹226.0
Subject to Sauda
₹1500
Paid only if allotted
Tolins Tyres IPO AI Summary
- Tolins Tyres IPO is listed on BSE, NSE in the Tyres & Rubber Products sector.
- Price band: ₹215.0–₹226.0 per share, lot size 66 shares (min. investment ₹14,916).
- Subscription window: 09 Sep–11 Sep 2024, listing on 16 Sep 2024.
- Current GMP is +₹30.0 (13.27%), an estimated listing price of ₹256 — unofficial and can change daily.
Tolins Tyres Limited is a tyre manufacturing company with a diverse product range and a strong distribution network. The IPO aims to raise funds for loan repayment, working capital, and investment in its subsidiary. The company is positioned in a competitive sector with a valuation that places it within the range of its peers.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Tolins Tyres IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 11 Sep 2024 — not a current signal.
3 of 4 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Tolins Tyres IPO Grey Market Premium (GMP) Today
GMP
+₹30.0
GMP %
+13.27%
Est. Listing
₹256.0
Updated: 25 Jul 2026 14:04
About the Company
Incorporated in 2003, Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt. The company's business can be divided into two verticals: Tyre manufacturing and Tread Rubber manufacturing. As of March 31, 2024, the company's products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others. The company manufactures a range of products, including two-wheelers, three-wheelers, light commercial vehicles, agricultural tyres, tread rubber, and various accessories such as bonding gum, tyre flaps, and vulcanizing solutions. As of March 31, 2024, the company operated 8 depots and had 3,737 dealers nationwide. The company operates three manufacturing facilities, with two located at Mattoor in Kalady, Kerala, and the third in Al Hamra Industrial Zone in Ras Al Khaimah, UAE. The company has 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category. The company has obtained various quality certifications such as ISO 9001:2015, IATF 16949:2016 issued by UK Certifications. The company's clientele includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. etc. for products. As of March 31, 2024, the company has developed 163 new designs and products and has also created moulds for them. As of March 31, 2024, the company's sales and marketing team comprised 55 employees, including contract workers who reported to the Chairman and Managing Director.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 |
|---|---|
| Assets | 221.60 |
| Total Income | 228.69 |
| Profit After Tax | 26.01 |
| NET Worth | 100.53 |
| Reserves and Surplus | 85.07 |
| Total Borrowing | 78.77 |
Key Ratios
EPS
₹8.48
NAV
₹36.80
ROE
25.87%
ROCE
36.08%
RoNW
25.87%
P/B Value
6.14
P/E Ratio
26.64
Market Cap
₹892.90 Cr
PAT Margin
11.45%
Debt/Equity
0.78
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Elgi Rubber Company Limited | 37.91 | 6.15% | 45.12 | 2.33 | 2.33 |
| Grp Ltd. | 1250.57 | 13.58% | 24.07 | 169.78 | 169.78 |
| Tvs Srichakra Ltd. | 1451.55 | 9.7% | 33.76 | 140.98 | 140.98 |
| Vamshi Rubber Ltd. | 32.54 | 4.46% | 27.94 | 1.87 | 1.87 |
| Indag Rubber Ltd. | 87.46 | 6.79% | 39.94 | 6.15 | 6.15 |
| Tolins Tyres Limited This IPO | 36.8 | 25.87% | — | 9.52 | 9.52 |
Promoters
Kalamparambil Varkey Tolin and Jerin Tolin
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and / or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company; 69.97 2 Augmentation of long-term working capital requirements of the Company; 75.00 3 Investment in the wholly owned subsidiary, Tolin Rubbers Private Limited to repay and/ or prepay, in full, certain of its short term and long-term borrowings and augmentation of its working capital requirements; and 23.15 4 General corporate purposes 15.68
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
For the period ending March 31, 2024, Tolins Tyres reported a total income of ₹228.69 Cr. This figure represents the company's revenue for that period.
Profit Trend
The profit after tax for Tolins Tyres was ₹26.01 Cr for the period ending March 31, 2024.
Valuation
Tolins Tyres has an EPS of ₹8.48 and a P/E ratio of 26.64 at the issue price. In comparison, its peers have P/E ratios ranging from 24.07 to 45.12. This places Tolins Tyres at a valuation of roughly 26.64 times its trailing earnings, compared to peers trading between 24.07 and 45.12 times.
Grey Market Premium, Explained
The grey market premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the price at which shares are traded in the grey market before they are officially listed on the stock exchange. A positive GMP suggests that there is demand for the shares, while a negative GMP indicates a lack of interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment strategy and risk tolerance. Consider the company's growth potential, market position, and financial health before making a decision.
Who May Want to Wait
Investors who prefer stable, less volatile investments may want to avoid IPOs like this, which can experience significant price fluctuations in the short term. Additionally, those unfamiliar with the tyre manufacturing sector may find it challenging to assess the risks involved.
Listing Gains — The Risk
Listing day gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company's performance. While some IPOs may see a surge in price on their first day of trading, others may not perform as well, leading to potential losses for investors.
This evaluation is generated from Tolins Tyres's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Tolins Tyres IPO GMP today?
Tolins Tyres IPO GMP today is +₹30.0 (13.27%), indicating an estimated listing price of ₹256. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Tolins Tyres IPO?
The price band of Tolins Tyres IPO is ₹215.0–₹226.0 per share.
When does Tolins Tyres IPO open and close?
Tolins Tyres IPO opens on 09 September 2024 and closes on 11 September 2024.
When does Tolins Tyres IPO list on the stock exchange?
Tolins Tyres IPO listed on 16 September 2024 at ₹256.0.
What is the lot size for Tolins Tyres IPO?
The lot size for Tolins Tyres IPO is 66 shares, requiring a minimum investment of ₹14,916.
What is the price band for the IPO?
The price band for the IPO is ₹215.0 to ₹226.0.
What is the minimum investment amount?
The minimum investment amount is ₹14,916.
What is the lot size for the IPO?
The lot size for the IPO is 66 shares.
When does the IPO open and close?
The IPO opens on September 9, 2024, and closes on September 11, 2024.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
09 Sep 2024
Close
11 Sep 2024
Allotment
12 Sep 2024
Listing
16 Sep 2024
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