Key Quantitative Figures

  • IPO Issue Size: ₹200.00 crore (raised on September 16, 2024)
  • IPO Issue Expenses: ₹16.20 crore
  • Net Proceeds Available for Utilization: ₹183.80 crore
  • Funds Utilized by Object:
  • Loan Repayment/Prepayment: ₹72.44 crore (against original allocation of ₹69.97 crore)
  • Working Capital Augmentation: ₹75.08 crore (against original allocation of ₹75.00 crore)
  • Investment in Subsidiary (Tolin Rubbers Private Limited): ₹23.15 crore (against original allocation of ₹23.15 crore)
  • General Corporate Purposes: ₹15.68 crore (against original allocation of ₹15.68 crore)
  • Issue Expenses: ₹14.08 crore (against original allocation of ₹16.20 crore)
  • Total Funds Utilized: ₹200.00 crore

Dates and Regulatory References

  • IPO Date: September 16, 2024
  • Prospectus Date: September 11, 2024
  • Reporting Quarter Ended: March 31, 2026
  • Statement Approval Date: May 28, 2026 (by Audit Committee)
  • SEBI Regulation: Regulation 32(1) of SEBI LODR
  • SEBI Circular: CIR/CFD/CMDI/162/2019 dated December 24, 2019

Parties Involved

  • Listed Entity: Tolins Tyres Limited
  • Monitoring Agency: Brickwork Ratings India Private Limited
  • Subsidiary: Tolin Rubbers Private Limited (wholly-owned)

Utilization Details and Compliance Status

The company confirms there is no deviation or variation in the utilization of IPO proceeds from the objects stated in the prospectus. All funds have been utilized according to the original plan:

  • Loan prepayment objective was slightly over-utilized (₹72.44 crore vs. ₹69.97 crore allocated)
  • Working capital augmentation was slightly over-utilized (₹75.08 crore vs. ₹75.00 crore allocated)
  • Subsidiary investment and general corporate purposes were fully utilized as allocated
  • Issue expenses were under-utilized (₹14.08 crore vs. ₹16.20 crore allocated)

The statement was reviewed and approved by the Audit Committee on May 28, 2026. Both the Audit Committee and auditors provided "No Comments" on the disclosure.

Financial Impact

No financial impact from deviation or variation, as none occurred. All funds have been utilized as per the original objects disclosed in the IPO prospectus.