• Source:JND
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IPO:  The initial public offering of Tolins Tire and Kross got an impressive response from the investors on the very first day of bidding. The IPO of Tolins Tire oversubscribed, getting 1.80 times bidding against its issue size. while the IPO of Kross subscribed 88 times. Both initial share sales were opened for public subscription on Monday i.e. September 9. 

Tolins Tire IPO Subscription Status

Tolins Tire’s initial public offering was fully subscribed within hours of the opening of the bids on Monday, with an overall subscription of 1.80 times at the end of the first day. According to NSE data, bids were received for 1,34,50,866 shares in the initial share sale as compared to 74,88,372 shares on offer.

The share of retail private investors was booked 3.16 times, while the quota of non-institutional investors was subscribed 83 percent. Qualified institutional buyers (QIB) accounted for 12 percent of subscriptions.

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Tollins Tire Ltd on Friday announced that it has raised Rs 69 crore from anchor investors. The company has set a price band of Rs 215-226 per share for its initial public offering (IPO).

The Kerala-based company’s initial share sale combines a fresh issue of equity shares worth Rs 200 crore and an offer for sale (OFS) of equity shares worth Rs 30 crore. Promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload shares worth Rs 15 crore each through the OFS route. They currently hold 83.31 percent stake in the company.

Kross IPO Subscription Status

The initial public offering of auto parts manufacturer Kross Ltd attracted 88 percent subscription on the first day of bidding on Monday. The initial share sale received bids for 1,34,95,044 shares against 1,53,50,877 shares on offer, according to NSE data. The IPO got 1.50 times the subscription for retail individual investors (RIIs) and 61 percent for non-institutional investors.

Kross Ltd on Friday said it has raised Rs 150 crore from anchor investors. The IPO of the Jamshedpur-based company combines a fresh issue of equity shares worth Rs 250 crore and an offer for sale (OFS) totaling up to Rs 250 crore by the promoters.

In the OFS segment, Sudhir Roy has an equity stake of up to Rs 168 crore and Anita Roy has an equity stake of up to Rs 82 crore. The issue, priced at Rs 228-240 per share, will close on September 28.

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