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Exxaro Tiles IPO is a book build issue of ₹160.78 crores. The issue is a combination of fresh issue of 1.12 crore shares aggregating to ₹133.98 crores and offer for sale of 0.22 crore shares aggregating to ₹26.81 crores.
Exxaro Tiles IPO bidding started from Aug 4, 2021 and ended on Aug 6, 2021. The allotment for Exxaro Tiles IPO was finalized on Aug 11, 2021. The shares got listed on BSE, NSE on Aug 16, 2021.
Exxaro Tiles IPO price band is set at ₹120.00 per share . The lot size for an application is 125. The minimum amount of investment required by an retail is ₹14,750 (125 shares). The lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (8,375 shares), amounting to ₹10,05,000.
The issue includes a reservation of up to 2,68,500 shares for employees offered at a discount of ₹12.00 to the issue price.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹118 to ₹120 per share |
| Issue Price Final | ₹120 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,34,24,000 shares (aggregating up to ₹160.78 Cr) |
| Fresh Issue | 1,11,86,000 shares (aggregating up to ₹133.98 Cr) |
| Offer for Sale | 22,38,000 shares of ₹10 (aggregating up to ₹26.81 Cr) |
| Employee Discount | ₹12.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,35,55,070 shares |
| Share Holding Post Issue | 4,47,41,070 shares |
Exxaro Tiles IPO offers total 1,34,24,000 shares. Out of which 32,88,875 (24.50%) allocated to QIB, 13,15,550 (9.80%) allocated to QIB, 46,04,425 (34.30%) allocated to NII, 52,62,200 (39.20%) allocated to RII and 19,73,325 (14.70%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 32,88,875 (24.50%) | NA |
| − Anchor Investor Shares Offered | 19,73,325 (14.70%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 13,15,550 (9.80%) | NA |
| NII (HNI) Shares Offered | 46,04,425 (34.30%) | NA |
| Retail Shares Offered | 52,62,200 (39.20%) | 42,097 |
| Employee Shares Offered | 2,68,500 (2.00%) | NA |
| Total Shares Offered | 1,34,24,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Exxaro Tiles IPO opens on August 4, 2021, and closes on August 6, 2021.
| IPO Open Date | Wed, Aug 4, 2021 |
| IPO Close Date | Fri, Aug 6, 2021 |
| Tentative Allotment | Wed, Aug 11, 2021 |
| Initiation of Refunds | Thu, Aug 12, 2021 |
| Credit of Shares to Demat | Fri, Aug 13, 2021 |
| Tentative Listing Date | Mon, Aug 16, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Aug 6, 2021 |
Investors can bid for a minimum of 125 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (Min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (Max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (Min) | 67 | 8,375 | ₹10,05,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | ||
The Company Exxaro Tiles IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Prepayment/repayment of certain secured borrowings availed by our Company | 50.00 |
| 2 | Funding the working capital requirements of the Company | 45.00 |
| 3 | General corporate purposes | 23.53 |
[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...
| Listing Date | August 16, 2021 |
| BSE Script Code | 543327 |
| NSE Symbol | EXXARO |
| ISIN | INE0GFE01018 |
| Final Issue Price | ₹120 per share |
| BSE Listing Group | T |
Exxaro Tiles Ltd.
Survey No. 169 & 170, Vavdi Harsol Road, At & Po.
Mahelav, Taluka:
Talod,
Sabar Kantha, Gujarat, 383305
Phone: +02772-350555
Email: cs@exxarotiles.com
Website: http://www.exxarotiles.com/
MUFG Intime India Pvt.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 1,34,24,000 equity shares of the face value of ₹10 aggregating up to ₹160.78 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 125.
The IPO opens on August 4, 2021, and closes on August 6, 2021.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹15,000.
You can apply in Exxaro Tiles IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Exxaro Tiles IPO listing date is on Monday, August 16, 2021.
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