Tolin Tyres share allotment expected today: Check status, GMP, listing date and other details

The share allotment of Tolin Tyres IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Firstly, here's how you can know the status on BSE:

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Tolin Tyres IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the steps below:

Step 1: Visit the Cameo Corporate Services website (https://ipo.cameoindia.com/)

Step 2: Select Tolin Tyres IPO

Step 3: Enter the PAN details and click search to know the status

Tolins Tyres GMP

The company's shares are expected to get listed on the exchanges on September 16. In the unlisted market, the company's shares are trading with a GMP of Rs 30, which translates to a premium of 13% to the issue price.

Tolins Tyres IPO subscription

The initial public offer (IPO) of Korss was subscribed nearly 24 times, driven by robust demand across categories.

Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements, Rs 62 crore for repayment of debut. Further, about Rs 24 crore will be used for investment in the company's subsidiary Tolin Rubbers for repaying its debt and supporting its working capital requirements.

Tolins Tyres is present in both verticals – manufacturing of new tyres and tread rubber. It is primarily engaged in manufacturing of bias tyres for vehicles (including LCV, agricultural and two/three-wheeler vehicles) and precured tread rubber.

Its competitive strengths lie in its operational efficiency, ensuring timely delivery, stringent quality control, and product innovations.

The company has delivered robust growth in Revenue, EBITDA and PAT at a CAGR of 42%, 176% and 542% from FY22 to FY24, driven by capacity expansion and vertical integration.

Its revenue from operations in the fiscal year 2024 came in at Rs 227 crore and profit was at Rs 26 crore. For FY24, the company generated revenues of Rs 51 crore from sales of new tyres, which accounted for 24% of the total sales. Meanwhile, revenue from tread rubber made up for the rest 76% of the total sales.

Saffron Capital Advisor is acting as the sole book running lead manager to the issue, while cameo corporate services is the registrar.

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