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Tolins Tyres Listed with almost Same price at ₹228 – Check Details

Tolins Tyres had a modest debut at ₹228, slightly above its IPO price, but surged 5% later, reaching ₹239, showing strong post-listing momentum despite a tepid start.
Tolins Tyres Listed with almost Same price at ₹228 – Check Details

Tolins Tyres Limited experienced a modest market debut, opening at ₹228, just 0.4% above its IPO price of ₹226 on BSE, showing a tepid investor response. However, the stock surged, hitting a 5% upper circuit later, showing a rally post-initial flat performance.

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Tolins Tyres Limited IPO saw varied subscription levels on Day 3: Qualified Institutional Buyers (QIBs) subscribed 25.42 times, Non-Institutional Investors at 27.41 times, and Retail Individual Investors (RIIs) at 21.52 times, bringing the total subscription to 23.89 times.

Tolins Tyres Limited, a leading Indian tyre manufacturer and retreader, exports to 40 countries. They offer tyres for light commercial, agricultural, and two/three-wheeler vehicles, along with tread rubber and accessories. Known for high quality and strong dealer relationships, the company is integrated across raw materials, design, and sales through 8 depots and 3,737 dealers, with all products BIS-certified.

Tolins Tyres aims to repay loans, boost working capital, and invest in its subsidiary. The IPO proceeds will be used for debt reduction, operational flexibility, subsidiary support, and general corporate purposes.

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