Tolins Tyres Ltd.'s initial public offering has received 14.10 subscriptions. Due primarily to demand from retail investors, the IPO was subscribed 5.22 times on Tuesday and 1.8 times on the first day of bidding on Monday. On the third and last day of subscription,
With this offering, which consists of a new equity share issue valued at Rs 200 crore and a sale offer valued at Rs 30 crore, the company hopes to raise Rs 230 crore.
For the mainboard issue, bids were received for over 17.50 crore shares, compared to the 74.88 lakh shares on offer; this resulted in an overall subscription of 23.37 times.
Subscription in different categories
Retail investors applied for over 7.66 crore shares out of the 37.44 lakh shares set aside for the category, booking the portion by a whopping 20.46 times.
Applications for 4.37 crore shares were received by the issue from non-institutional investors (NIIs), a 27.28 times higher number of subscriptions than the 16.04 lakh shares reserved for the segment.
Out of the 21.39 lakh shares set aside for the qualified institutional buyers (QIBs) segment, applications for 5.43 crore shares were received. This indicates a booking rate of over 25.42 times.
Price band
The company has set an IPO price range of Rs 215 to Rs 226 per share. The minimum lot size for an application is 66 shares. Retail investors are able to invest a minimum of Rs 14,916.
Small non-institutional investors (sNII) are required to make a minimum investment of Rs 208,824, which equates to 14 lots of 924 shares. Big Non-Institutional Investors (bNII) are required to make a minimum investment of Rs 10,14,288 (68 lots, or 4,488 shares).
Subscription timetable
You can register for the IPO between September 9 and September 11. The IPO allotment status is most likely going to be finalised on September 12. On September 13, winners will have their shares credited to their demat accounts, and losers will get their money back the same day.
The company is expected to list its shares on the NSE and BSE on September 16.
Utilisation of IPO proceeds
Tolins Tyres Limited will use the proceeds of its initial public offering (IPO) to finance investments in Tolin Rubbers Private Limited, a wholly-owned subsidiary, as well as the full or partial repayment of certain outstanding loans and long-term working capital needs.
To the greatest extent feasible, the funds will be utilised for general corporate purposes.
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