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Exxaro Tiles IPO is a book built issue of Rs 161.09 crores. The issue is a combination of fresh issue of 1.12 crore shares aggregating to Rs 134.23 crores and offer for sale of 0.22 crore shares aggregating to Rs 26.86 crores.
Exxaro Tiles IPO bidding started from August 4, 2021 and ended on August 6, 2021. The allotment for Exxaro Tiles IPO was finalized on Wednesday, August 11, 2021. The shares got listed on BSE, NSE on August 16, 2021.
Exxaro Tiles IPO price band is set at ₹118 to ₹120 per share. The minimum lot size for an application is 125 Shares. The minimum amount of investment required by retail investors is ₹15,000.
The issue includes a reservation of up to 268,500 shares for employees offered at a discount of Rs 12 to the issue price.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Exxaro Tiles IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Exxaro Tiles IPO RHP for detailed information.
| IPO Date | August 4, 2021 to August 6, 2021 |
| Listing Date | August 16, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹118 to ₹120 per share |
| Lot Size | 125 Shares |
| Total Issue Size | 13,424,000 shares (aggregating up to ₹161.09 Cr) |
| Fresh Issue | 11,186,000 shares (aggregating up to ₹134.23 Cr) |
| Offer for Sale | 2,238,000 shares of ₹10 (aggregating up to ₹26.86 Cr) |
| Employee Discount | Rs 12 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Exxaro Tiles IPO offers 11,450,675 shares. 1,315,550 (11.49%) to QIB, 4,604,425 (40.21%) to NII, 5,262,200 (45.96%) to RII, 268,500 (2.34%) to employees. 42,097 RIIs will receive minimum 125 shares and (sNII) and (bNII) will receive minimum 1,750 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,315,550 (11.49%) | NA |
| NII (HNI) Shares Offered | 4,604,425 (40.21%) | |
| Retail Shares Offered | 5,262,200 (45.96%) | 42,097 |
| Employee Shares Offered | 268,500 (2.34%) | NA |
| Total Shares Offered | 11,450,675 (100%) |
Exxaro Tiles IPO opens on August 4, 2021, and closes on August 6, 2021.
| IPO Open Date | Wednesday, August 4, 2021 |
| IPO Close Date | Friday, August 6, 2021 |
| Basis of Allotment | Wednesday, August 11, 2021 |
| Initiation of Refunds | Thursday, August 12, 2021 |
| Credit of Shares to Demat | Friday, August 13, 2021 |
| Listing Date | Monday, August 16, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2021 |
Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1625 | ₹195,000 |
| Lot Size Calculator | |||
Mr. Mukeshkumar Patel, Mr. Kirankumar Patel, Mr. Dineshbhai Patel, and Mr. Rameshbhai Patel are the company promoters.
| Share Holding Pre Issue | 56.09% |
| Share Holding Post Issue | 42.5% |
Incorporated in 2008, Exxaro Tiles is engaged in the manufacturing and marketing activities of vitrified tiles. The company manufactures Double Charge Vitrified Tiles (double layer pigment) and Glazed Vitrified Tiles made from ceramic materials i.e. clay, quartz, and feldspar. Its product portfolio consists of 1000+ different designs of tiles in 6 sizes. Topaz Series, Galaxy Series, and High Gloss Series are some of the well-established products of the company.
It supplies its products to large infrastructure projects i.e. residential, educational, commercial, hotels, hospitals, government, builders or developers, religious institutions, etc. It also exports tiles to different countries across the globe i.e. Poland, Bosnia, USA, and others.
Currently, Exxaro Tiles has 2 state-of-the-art manufacturing facilities in Padra and Talod with an installed production capacity of 1,32,00,000 sq mt per annum. It further has 6 display centers in 6 cities and 2 marketing offices in Delhi and Morbi.
Competitive Strengths
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 3,693.14 | 3,870.55 | 3,582.55 | ||
| Total Revenue | 2,598.53 | 2,439.64 | 2,440.06 | ||
| Profit After Tax | 152.23 | 112.59 | 89.17 | ||
[Dilip Davda] The company is in the highly competitive field having fragmented (big and small) players. Based on super earnings of FY21, the issue is at a P/E of 35+ and is fully priced. Being IPO under Rs. 250 cr. it will list in T2T with lower circuit limits and this may restrict speculative moves. Hence cash surplus/risk seekers may consider investing in this “high risk - low return†issue. Read detail review...
The Exxaro Tiles IPO is subscribed 22.65 times on August 6, 2021 6:50:00 PM. The public issue subscribed 40.05 times in the retail category, 17.67 times in the QIB category, and 5.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 34.48 times
| Category | Subscription (times) |
|---|---|
| QIB | 17.67 |
| NII | 5.36 |
| Retail | 40.05 |
| Employee | 2.53 |
| Total | 22.65 |
| Listing Date | August 16, 2021 |
| BSE Script Code | 543327 |
| NSE Symbol | EXXARO |
| ISIN | INE0GFE01018 |
| Final Issue Price | ₹120 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹120.00 |
| ₹126.00 |
| ₹126.00 |
| ₹132.30 |
| ₹132.25 |
| NSE |
|---|
| ₹120.00 |
| ₹126.00 |
| ₹126.00 |
| ₹132.30 |
| ₹132.30 |
Exxaro Tiles Limited
Survey No. 169 & 170, Vavdi Harsol Road, At & Po.
Mahelav, Taluka: Talod, Sabarkantha - 383 305
Phone: +02772-350555
Email: cs@exxarotiles.com
Website: http://www.exxarotiles.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: exxaro.ipo@linkintimeindia.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Exxaro Tiles IPO is a main-board IPO of 13,424,000 equity shares of the face value of ₹10 aggregating up to ₹161.09 Crores. The issue is priced at ₹118 to ₹120 per share. The minimum order quantity is 125 Shares.
The IPO opens on August 4, 2021, and closes on August 6, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Exxaro Tiles IPO using UPI as a payment gateway. Zerodha customers can apply in Exxaro Tiles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Exxaro Tiles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Exxaro Tiles IPO opens on August 4, 2021 and closes on August 6, 2021.
Exxaro Tiles IPO lot size is 125 Shares, and the minimum amount required is ₹15,000.
You can apply in Exxaro Tiles IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Exxaro Tiles IPO will be done on Wednesday, August 11, 2021, and the allotted shares will be credited to your demat account by Friday, August 13, 2021. Check the Exxaro Tiles IPO allotment status.
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