Tolins Tyres' IPO fully subscribed in few hours, 1.8 times booking on Day 1
The initial public offer of Tolins Tyres got fully subscribed within hours of opening of bidding on Monday and ended the first day with an overall over-subscription of 1.80 times.
The initial share sale received bids for 1,34,50,866 shares against 74,88,372 shares on offer, according to NSE data.
The Retail Individual Investors' portion was booked 3.16 times while the quota for non-institutional investors got subscribed 83 per cent. The Qualified Institutional Buyers (QIBs) part got subscribed 12 per cent.
Tolins Tyres Ltd on Friday announced that it has mopped up Rs 69 crore from anchor investors.
The company has fixed a price band of Rs 215-226 per share for its initial public offering (IPO).
The Kerala-based company's initial share sale is a combination of a fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 30 crore.
Promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload shares worth Rs 15 crore each throu