Tolins Tyres IPO Listing Today: GMP Signals Strong Debut on BSE, NSE with Shares Set to Surge

The initial public offering (IPO) of Tolins Tyres Ltd received good interest from investors and is set to be listed today, September 16, 2024. The public issue was open for subscription from September 9 to 11, and now the shares will start trading on the stock market.

According to a notice from the Bombay Stock Exchange (BSE), Tolins Tyres shares will be listed under the “T” group of securities and will be available for trading from 10:00 AM as part of the Special Pre-open Session (SPOS).

Grey Market Premium (GMP) and Expected Listing Price

Before the listing, the grey market premium (GMP) for Tolins Tyres shares is ₹30 per share. This means the shares are expected to trade at ₹30 higher than their issue price of ₹226 per share.

Considering the current GMP, analysts predict that the listing price for Tolins Tyres shares will be around ₹256 per share, which is a 13.27% premium to the issue price. Experts also anticipate listing gains of 15% to 18% for investors.

Expert Views on Tolins Tyres Listing

Sagar Shetty, a Research Analyst at StoxBox, stated that the IPO was oversubscribed by 25 times, reflecting strong investor interest. He expects the shares to show an 18% listing gain and recommends holding the stock for the medium to long term due to favorable market conditions.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities Ltd, also predicts a strong debut with a 15% premium to the issue price, estimating a listing price around ₹260.

Tolins Tyres IPO Details

The Tolins Tyres IPO was open for bidding from September 9 to 11, and the share allotment was finalized on September 12. The IPO price band was set between ₹215 and ₹226 per share, raising a total of ₹230 crore.

The IPO was oversubscribed 23.89 times, with retail investors subscribing 21.52 times, Non-Institutional Investors (NIIs) subscribing 27.41 times, and Qualified Institutional Buyers (QIBs) subscribing 25.42 times.

Saffron Capital Advisors served as the lead manager for the IPO, while Cameo Corporate Services acted as the registrar.

In summary, Tolins Tyres is expected to make a strong debut in the stock market, with analysts predicting solid listing gains due to strong investor demand and favorable grey market trends.