Tolins Tyres IPO Allotment Today — Step-By-Step Guide To Check Status
The initial public offer of Tolins Tyres got fully subscribed within hours of opening of bidding on Monday.
The initial public offering of Tolins Tyres Ltd. received a positive response from the investors. The IPO, which concluded on Wednesday, was subscribed 23.89 times, led by demand from institutional investors and non-institutional wealthy investors.
Tolins Tyres IPO received bids for 17,89,26,528 shares against 74,88,372 shares on offer, as per NSE data.
The quota for non-institutional investors was subscribed 27.41 times while the portion for qualified institutional buyers (QIBs) received 25.42 times subscription. The category for retail individual investors (RIIs) garnered 21.52 times bidding.
The IPO was subscribed 5.22 times on day two of the subscription on Tuesday. It was subscribed 1.8 times on Monday, the first day of subscription.
The company aimed to raise Rs 230 crore via the offering, which consisted of a fresh issue of equity shares worth Rs 200 crore and an offer for sale worth Rs 30 crore.
The allotment for Tolins Tyres IPO will be finalised on Thursday, September 12. The offer is set to list on the BSE and the National Stock Exchange on September 16.
Investors who bid for the issue can check the allotment status on BSE and Cameo Corporate Services Ltd.
How To Check Tolins Tyres IPO Allotment On Cameo Corporate Services?
Visit the Cameo Corporate Services website here
Select 'Tolins Tyres Limited' from the drop-down list.
Choose one of the options: PAN number, DP Client ID, or Application Number, and enter the respective details.
Fill in the captcha code as shown and click on the 'Submit' button.
Your IPO allotment status will be displayed on the screen.
How To Check Tolins Tyres IPO Allotment Status On BSE?
Visit the BSE IPO allotment page here.
Select the issue type as 'Equity'.
Choose 'Tolins Tyres Limited' from the Issue Name dropdown menu.
Enter your Application number or PAN (Permanent Account Number).
Complete the 'Captcha'.
Click on the 'Search' button to view your allotment status.
Tolins Tyres IPO GMP Today
The grey market premium of Tolins Tyres is Rs 30 as of 8:57 a.m., implying a 13.27% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 256 per share.
GMP is not an official price quote for the stock and is based on speculation.
Tolins raised Rs 68 crore from anchor investors on last week. The company allotted 30.5 lakh shares at Rs 226 apiece to eight anchor investors. The Kerala-based company has set a price band of Rs 215-226 per share. The market valuation of the company at the upper end of the price band is Rs 893 crore.
The company plans to use the proceeds of the IPO for the following purposes:
Repayment of borrowings.
Working-capital requirement.
Repayment of India subsidiary loans.
Working capital of India subsidiary.
Tolins Tyres is a leading player in the tyre and treads industry and exports its products to 40 countries, including the Middle East, East Africa, Jordan, Kenya and Egypt.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
