Tolins Tyres Shares Make Flat Market Debut With Marginal Gains

Shares of Tolins Tyres Ltd had a subdued debut on the stock market on Monday, closing slightly above the issue price of Rs 226. The stock opened at Rs 227 on the BSE, reflecting a modest 0.44 per cent rise. However, it later surged by 5.44 per cent, reaching Rs 238.30, the upper circuit limit for the day.On the NSE, Tolins Tyres shares began trading at Rs 228, up 0.88 per cent from the issue price, and peaked at Rs 239.40, marking a 5.92 per cent gain, the highest permissible limit for the day. The company's market capitalisation stood at Rs 941.50 crore.Tolins Tyres' initial public offering (IPO) had been well-received by investors, with the share sale being oversubscribed by 23.87 times on its final day, September 11. The IPO was priced between Rs 215 and Rs 226 per share.ALSO READ | Bajaj Housing Finance Listing: Shares Surge With 114% Premium On Market DebutThe Kerala-based tyre manufacturer raised Rs 200 crore through a fresh issue of shares and an additional Rs 30 crore via an Offer-for-Sale (OFS). The proceeds from the IPO will be used to meet various financial needs, including Rs 75 crore allocated to long-term working capital, Rs 62.55 crore for debt repayment, and Rs 24.36 crore for investing in its subsidiary, Tolin Rubbers.Tolins Tyres' intends to utilise the net proceeds from the fresh issue to repay or prepay certain outstanding loans, including any applicable foreclosure charges. Furthermore, the funds will be used to strengthen its long-term working capital and to invest in its wholly-owned subsidiary, Tolin Rubbers Private Limited, for the repayment or prepayment of both short-term and long-term borrowings, as well as to boost its working capital.Tolins Tyres is a significant player in the tyre and treads sector, exporting its products to over 40 countries, including regions like the Middle East, East Africa, and nations such as Jordan, Kenya, and Egypt.ALSO READ | Share Market Today: Sensex Rises 100 Points; Nifty Near 25,400. IT, FMCG Down

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Shares of Tolins Tyres Ltd had a subdued debut on the stock market on Monday, closing slightly above the issue price of Rs 226. The stock opened at Rs 227 on the BSE, reflecting a modest 0.44 per cent rise.

However, it later surged by 5.44 per cent, reaching Rs 238.30, the upper circuit limit for the day.



On the NSE, Tolins Tyres shares began trading at Rs 228, up 0.88 per cent from the issue price, and peaked at Rs 239.40, marking a 5.

92 per cent gain, the highest permissible limit for the day. The company's market capitalisation stood at Rs 941.50 crore.

Tolins Tyres' initial public offering (IPO) had been well-received by investors, with the share sale being oversubscribed by 23.87 times on its final day, September 11. The IPO was priced between Rs 215 and Rs 226 per share.

ALSO READ | Bajaj Housing Finance Listing: Shares Surge With 114% Premium On Market Debut The Kerala-based tyre manufacturer raised Rs 200 crore through a fresh issue of shares and an additional Rs 30 crore via an Offer-for-Sale (OFS). The proceeds from the IPO will be used to meet various financial needs, including Rs 75 crore allocated to long-term working capital, Rs 62.55 crore for debt repayment, and Rs 24.

36 crore for investing in its subsidiary, Tolin Rubbers. Tolins Tyres' intends to utilise the net proceeds from the fresh issue to repay or prepay certain outstanding loans, including any applicable foreclosure charges. Furthermore, the funds will be used to strengthen its long-term working capital and to invest in its wholly-owned subsidiary, Tolin Rubbers Private Limited, for the repayment or prepayment of both short-term and long-term borrowings, as well as to boost its working capital.

Tolins Tyres is a significant player in the tyre and treads sector, exporting its products to over 40 countries, including regions like the Middle East, East Africa, and nations such as Jordan, Kenya, and Egypt. ALSO READ | Share Market Today: Sensex Rises 100 Points; Nifty Near 25,400. IT, FMCG Down.