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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of company borrowings
Repayment or prepayment, in full or part, of certain outstanding borrowings availed by the company.
Working capital requirements
Augmentation of the company's long term working capital requirements.
Investment in subsidiary
Investment in the company's wholly owned subsidiary, Tolin Rubbers Private Limited, to augment its long term working capital requirements.
Repayment of subsidiary borrowings
Repayment or prepayment, in full or part, of certain outstanding borrowings availed by the wholly owned subsidiary, Tolin Rubbers Private Limited.
General corporate purposes
The balance of the net fresh issue proceeds for general corporate purposes.
(₹ in Crore)
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Tolins Tyres Limited is a Kerala based tyre manufacturer, incorporated in 2003, that produces new tyres alongside precured tread rubber and other retreading products. The company manufactures bias tyres for a wide range of vehicles, including light commercial vehicles, agricultural vehicles and two and three wheelers, and also makes ancillary retreading products such as adhesive tape, vulcanizing solutions, tyre flaps and tubes. The company operates manufacturing facilities in Kerala along with an overseas unit in the UAE, and has built an established position as a tyre retreading solutions provider, exporting to around 40 countries across regions including the Middle East and East Africa. Its plant holds BIS product certification for most required sizes and the company carries quality certifications including ISO 9001:2015 and IATF 16949:2016. A large majority of the company's products are sold through a network of dealers and distributors rather than directly to end customers, and the business has moved from a period of thin profitability to markedly improved earnings in its most recent full year. Its wholly owned subsidiary, Tolin Rubbers Private Limited, is also part of the group's manufacturing and retreading operations.
The anchor book raised about Rs 69 crore, with roughly 3.05 million shares allotted at Rs 226 per share, the top of the price band. Participants included BofA Securities Europe, NAV Capital VCC, Chhattisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I Fund, Invicta Continuum Fund I and Steptrade Revolution Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Rapidly improving profitability
The company has moved from thin profitability to a sharply higher profit level in its most recent full year, reflecting improving operating leverage in its tyre and retreading business.
Established quality certifications
The company holds ISO and IATF quality certifications and BIS product certification across most of its tyre range, supporting credibility with institutional and export customers.
Export reach and financial stability
A tyre retreading and manufacturing presence across roughly 40 export markets, combined with a comparatively stable financial position versus peers, supports revenue diversification beyond the domestic market.
Dealer and distributor concentration without contracts
A large majority of products are sold through dealers and distributors without formal contractual agreements, which creates risk around the durability and terms of these relationships.
Tolins Tyres Limited
Cameo Corporate Services Limited
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