Tolins Tyres IPO subscribed 14.61 times so far

11 Sep 2024 , 02:49 PM

Tolins Tyres Ltd’s initial public offering, which is scheduled to close on Wednesday, September 11, has received a 14.61 times subscription so far. The Rs 230-crore IPO price band has been set at Rs 215 to Rs 226 per share for the public offering. Until 2:45 pm on the final day of bidding on Wednesday, the IPO got a 14.61 times subscription, with offers for 10,94,18,958 shares against the 71,23,894 shares on offer.

Non-institutional investors placed 18.56 times the number of subscriptions, while retail individual investors (RIIs) placed 16.71 times as many. The QIB category placed a 7.98 times subscription.

On September 9, the IPO opened for public subscription. The share allotment for the Tolins Tyres IPO is expected to be concluded on September 12, with the company’s shares listed on both the BSE and NSE on September 16.

The company issued a total of 30.53 lakh shares to anchor investors at Rs 226 each, which is also the upper end of the pricing range. This brings the total transaction value to Rs 69 crore, according to a circular posted on the BSE website.

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