It’s raining IPOs this week, with as many as four public issues set to hit the capital markets. One of them is of Exxaro Tiles. We bring you all the important details about this tile maker, which has a track record of strong profit growth and well-diversified product portfolio.
Key details
- IPO size: ₹161 crore
- Fresh issue: ₹134 crore
- Price band: ₹118–₹120 per share
- Lot size: 125 shares
- Cost per lot: ₹15,000
- Issue opens: 4 August 2021
- Issue closes: 6 August 2021
- Basis of allotment date: 11 August 2021
- Initiation of refunds: 12 August 2021
- Credit of shares to demat account: 13 August 2021
- Expected listing date: 17 August 2021
About Exxaro Tiles
Gujarat-based Exxaro Tiles manufactures and markets vitrified tiles, which are predominantly used for flooring. Along with a well-diversified product range, it has a network of more than 2,000 dealers. Through this network, it supplies products to various projects including residential, commercial, educational institutions, hospitals and government institutions.
The company has a pan-India presence and also exports to 12 countries including Poland, UAE and Bosnia. It garners around 14% of its total revenue from exports. This segment has grown at a CAGR of 47% between FY19 and FY21.
In the same period, the company’s profit has grown at a CAGR of 30.6%. And its revenue has increased 2.6% on an average annually.
About the issue
The IPO size is ₹161 crore. Of this, the offer for sale is ₹26.8 crore and the remaining ₹134.2 crore is the fresh issue. The company plans to use the IPO proceeds to repay debt and for working capital requirements.
IPO allocation quota
| QIB | NIB | Retail |
| 25% | 35% | 40% |
To know more about the IPO, read its red herring prospectus here. The issue opens on 4 August 2021 and you can subscribe to Exxaro Tiles with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!