New Delhi, Feb. 18 -- Kerala-based Tolins Tyres has filed preliminary papers to the Securities and Exchange Board of India (SEBI) to raise Rs.230 crore through an initial public offering (IPO).

According to the draft prospectus filed on February 16, the IPO will comprise a combination of fresh issuance of equity shares amounting to Rs.200 crore, and an offer-for-sale (OFS) of shares valued at Rs.30 crore by the company's promoters.

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The promoters, Kalamparambil Varkey Tolin and his wife Jerin Tolin, will be the selling shareholders in the OFS, divesting Rs.15 crore worth of shares each. Currently, the promoters hold 92.64 percent of the shares in t...