The price band for the IPO has been fixed at Rs 215-226 per share.
Ahead of the public issue, Tollins Tires raised Rs. 69 crores have been obtained. Notable anchor investors include BofA Securities Europe SA, NAV Capital VCC, Chhattisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikas India EIF I Fund, Invicta Continuum Fund I, and Steptrade Revolution Fund. The company offered these investors 30.53 lakh shares of Rs. 226, which is the upper limit of the price band.
In IPO Rs. 200 crore fresh issue of equity shares and Rs. Includes an offer-for-sale (OFS) of equity shares worth Rs 30 crore. Promoters Kalamparambil Varki Tolin and Jarin Tolin each through OFS route Rs. 15 crore shares will be sold. He currently holds 83.31% stake in the company.
Tollins Tires is present in both verticals – manufacturing of new tires and tread rubber. It is primarily engaged in the manufacture of bias tires for vehicles (including LCVs, agricultural and two/three-wheeler vehicles) and precured tread rubber. The company also manufactures ancillary products such as bonding gum, vulcanizing solution, tire flaps and tubes.
The competitive strengths of Tollins Tires ensure its efficiency, timely delivery, strict quality control and product innovations.
For FY24, Tollins Tires generated sales of new tires at Rs. 51 crore in revenue, representing 24% of total sales, with Trade Rubber contributing the remaining 76%. The company’s Profit After Tax (PAT) has grown at a CAGR of 541.98% from FY22 (on a standalone basis) to FY24 (on a consolidated basis). For FY24, revenue from operations stood at Rs. 227 crores, of which Rs. 26 crores profit was made.
Saffron Capital Advisors is acting as the sole book running lead manager of the issue, while Cameo Corporate Services is the registrar.
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