Tolins Tyres Listing:Tire manufacturing company Tolins Tyres IPO got listed in the stock market today. The company's shares got flat listing on BSE and NSE. Shares of Tolins Tyres made a muted market debut on NSE on Monday, September 16 at Rs 228. It was at a premium of just 1% over the IPO price of Rs 226. At the same time, this stock got listed at Rs 227 on BSE. However, after a poor listing, the stock hit an upper circuit of 5% in intraday and it reached an intraday high of Rs 239.40. Only buyers were visible in this stock on NSE around 1 pm. The buy quantity on this stock was 3,88,683 while the sell quantity was not visible at all. This means that this stock is only being bought, it is not being sold. Let us tell you that the company had fixed the price band for its IPO at Rs 215-226 per share.

It was subscribed 23.87 times

Let us tell you that this IPO of the tire manufacturing company was subscribed 23.87 times on the last day. According to NSE data, bids were received for 17,87,61,066 shares against the offer of 74,88,372 shares in the company's initial share sale. The segment of non-institutional investors received 27.41 times subscription while the portion of qualified institutional buyers (QIBs) was subscribed 25.42 percent. The portion of retail individual investors was subscribed 21.47 times. Tolins Tyres Limited had raised Rs 69 crore from anchor investors before the issue opened. The initial share sale of the Kerala-based company was a combination of a new issue of equity shares worth Rs 200 crore and an offer for sale (OFS) of equity shares worth Rs 30 crore. Saffron Capital Advisors is the book running lead manager of the Tolins Tyres IPO, while Cameo Corporate Services is the IPO registrar.

The issue was open from 9 September

This is a mainboard IPO. It is priced at ₹230 crore. The issue was open for subscription from September 9 to 11, 2024. The company will use the funds raised from the IPO to invest in its subsidiary Tolin Rubbers Private Limited. This will meet its short and long-term borrowing needs and support working capital requirements. The rest of the proceeds will be directed towards general corporate expenses.