This year 2024, the IPO market is witnessing a boom. Issues of many companies have been launched one after the other and many companies are preparing to launch their IPOs. Today, on September 9, issues of many companies are opening, one of these companies is Tolins Tyres. The size of the IPO of this tire manufacturing firm is Rs 230 crore 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?
Preparations to raise 230 crores
Tolins Tyres IPO is going to open today. The company had already 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).
Note the price band of the IPO
The IPO of this Kerala based tyre company will open for general investors today and can be subscribed till 11 September. If we talk about the price band, Tolins Tyers IPO Price Band has been fixed at Rs 215-226. This is a book built IPO and its listing will be on BSE-NSE. The company’s IPO was opened for anchor investors on last Friday, 6 September, from whom the company has raised Rs 69 crore.
If you have ₹15000 in your pocket, then become a sharer in the profit
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 the listing happen in the stock market?
Tolin Tyres submitted its documents (DRHP) for its IPO to market regulator SEBI on February 16 this year. This tyre manufacturing company manufactures tyres for light commercial vehicles. The company has a big business in the country as well as abroad. The tyres manufactured in the company are exported from 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. After closing on September 11, the date of listing of its shares has been fixed as September 16, 2024.
(Note- Before making any kind of investment in IPO or stock market, please take advice from your market experts.)
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