BSE & NSE
04 Aug - 06 Aug '21
₹118 - ₹120
The Exxaro Tiles IPO issue size of Rs 161 crore comprises a fresh issue of Rs 134.23 crore (11,186,000 equity shares of face value of Rs 10 each) and an offer for sale (OFS) of 2,238,000 equity shares (aggregating up to Rs 26.86 crore). The price band for the Exxaro Tiles IPO is Rs 118-120.
Exxaro Tiles manufactures and markets vitrified tiles. The company specialises in the manufacture of Double Charge Vitrified Tiles (double layer pigment) and Glazed Vitrified Tiles made from ceramic materials like clay, quartz, and feldspar. With a product portfolio of 1000+ different designs of tiles, the company supplies its products to large infrastructure projects. It also exports tiles to different countries across the globe. Currently, Exxaro Tiles has two state-of-the-art manufacturing facilities in Padra and Talod with an installed production capacity of 1,32,00,000 sq mt per annum.
Exxaro Tiles IPO was subscribed 22.65 times. Retail Individual Investors (RIIs) subscribed to the issue 40.05 times over the three-day period. The qualified institutional buyers (QIBs) have subscribed to this issue 17.67 times, while non-institutional investors have subscribed to it 5.36 times.
The post-issue FY2021 PE for the Exxaro Tiles IPO works out to be 35.2x at the upper end of the issue price band, which is lower than its peers Somany Ceramics (43.7x) and Kajaria Ceramics (52.7x).
Exxaro has had better revenue growth compared to its peers over the FY18-21 period. The company has a strong product portfolio supported by a larger dealer network.
With an excess of 2,000 registered dealers, Exxaro Tiles has a pan-India presence across 24 states/union territories. The company has forged long term relationships with most of its dealers. With a product portfolio of 1000+ designs categorised into various series, the company has a strong focus on innovation and quality
Volatility in the supply and pricing and availability of raw material is a key area of concern for the company as it may have an adverse effect on the business. Also, the business is dependent on the performance of the real estate, infrastructure and other related industries. Any uncertainty in these sectors can adversely impact the demand.
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When can we expect the Exxaro Tiles IPO allotment?
The Exxaro Tiles IPO allotment status will be available on Jun 21, 2021, as per the timeline provided in the draft red-herring prospectus.
When is Exxaro Tiles IPO getting listed?
The Exxaro Tiles IPO shares will get listed on August 17, 2021. The equity share of Exxaro Tiles will list on BSE, NSE.
What is the expected listing price of the Exxaro Tiles IPO?
The expected listing price of Exxaro Tiles IPO is dependent on a number of factors which include demand for the IPO, nature of the business, market fundamentals and the state of the economy.