Tolins Tyres IPO Details
Issue Date
--
Price Range
₹215 - ₹226
Lot Size
66
IPO Size
₹230.00 Cr
Tolins Tyres IPO Listing Details
Listing On
16 Sep'24
Issue Price
₹226
Listed Price
₹ 228
Retail Gain/Listing Gain
▲0.88%
Schedule of Tolins Tyres IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
16/09/2024
Tolins Tyres Company Background
Tolins Tyres Limited is a major tyre re-treading solutions provider across India. The company exports its products to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.
The company produces tyres for two-wheelers, three-wheelers, light commercial vehicles and agricultural equipment, pre-cured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc.(Source: Company Commissioned CRISIL Report).
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Tolins Tyres Competitive Strengths
Diversified Product Range and Customised Product Offering
The company has a competitive advantage in both tyre manufacturing and in tread rubber manufacturing. They have 163 stock keeping units (SKU) in the tyre category and 1,003 SKUs in the tread rubber category. This catalogue has been built over decades to fit in with market requirements and to fulfil customer requirements.
Products that adhere to various quality standards
Their products undergo quality checks at various levels of production to ensure that any quality defects or product errors are rectified on a real time basis. Hence, the percentage of product recalls/ claims was 0.20%, 0.19% and 1% of the total sales during FY 2024, 2023 and 2022, respectively.
Long standing relationship with large OEMs, dealer networks and Depots
Since the last three decades, they have established long-standing relationships with several well-established Indian and global customers like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, Tyre Grip. etc. This has been possible due to their ability to customise solutions and consistently deliver high quality and cost effective products.
Risk Factors
- They do not have any long-term contracts with their suppliers
- They depend on OEM customers for the sale of a significant portion of agricultural tyres. If the company is unable to maintain their relationship with OEM customers, it will hurt their business.
- All facilities and operations are currently concentrated in Kalady, Kerala and Ras Al Khaimah, UAE. Any disruption in manufacturing at, or temporary or permanent shutdown of, their manufacturing facilities can hurt their business.
Key Strategies
- Optimally utilise their production capacity of 1.51 million per annum tyre capacity, 12,486 tons per annum tread rubber and 17,160 tons per annum of rubber compounds
- Expand reach of domestic markets through collaboration with OEMs in India, and by tapping the untapped regions in the domestic market
- Expand product range by introducing new products and product range
Tolins Tyres Limited Key Financials
Here are the key financials for Tolins Tyres Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How To Apply for Tolins Tyres Ltd IPO?
Here are the steps to apply for Tolins Tyres Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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