Tolins Tyres Ltd's initial public offering (IPO) closed with a massive 24.6 times subscription, signaling strong investor interest.
The IPO, priced between Rs 215 to Rs 226 per share, attracted 17.58 crore bids against 71.24 lakh shares on offer. Non-institutional investors subscribed 28.71 times, while retail investors showed 21.80 times interest. Grey market premium (GMP) for the shares indicates a potential 17.26% listing gain. Of the Rs 230 crore raised, Rs 75 crore will fund working capital and Rs 62.55 crore will go towards debt repayment.