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Exxaro Tiles Limited IPO Detail

Exxaro Tiles Limited IPO Detail

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

  • Variety of vitrified tiles design choices in different sizes.  
  • Large dealer network with 2,000+ registered dealers.
  • Strong PAN India presence in 27 states of India.
  • International presence with export to 13+ countries across the globe.
  • One of the largest manufacturing plants of glazed vitrified tiles in India.

Company Promoters

Mr. Mukeshkumar Patel, Mr. Kirankumar Patel, Mr. Dineshbhai Patel, and Mr. Rameshbhai Patel

IPO Details

IPO Opening DateAug 04, 2021
IPO Closing DateAug 06, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹118 - 120 per equity share
Market Lot125 Shares
Min Order Quantity125 Shares
Listing AtBSE, NSE
Issue Size₹161.09 Cr
Fresh Issue11,186,000 Eq Shares of ₹10 (aggregating up to ₹134.23 Cr)
Offer for Sale2,238,000 Eq Shares of ₹10 (aggregating up to ₹26.86 Cr)
Retail Portion -

IPO Subscription (Bidding Detail)

Day 1 0.95x 0.65x 9.24x 0.74x - 4.63x
Day 2 1.65x 0.93x 21.10x 1.56x - 10.29x
Day 3 17.67x 5.36x 40.05x 2.53x - 22.65x

IPO Tentative Timetable

The Exxaro Tiles Limited IPO open date is Aug 04, 2021, and the close date is Aug 06, 2021. The issue may list on Aug 16, 2021.

IPO Open DateAug 04, 2021
IPO Close DateAug 06, 2021
Basis of Allotment DateAug 11, 2021
Initiation of RefundsAug 12, 2021
Credit of Shares to Demat AccountAug 13, 2021
IPO Listing DateAug 16, 2021

IPO Lot Size

The Exxaro Tiles Limited IPO market lot size is 125 shares. A retail-individual investor can apply for up to 13 lots (1625 shares or ₹195000).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding56.09%
Post Issue Share Holding42.5%

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 369.31 259.85 15.223
31-Mar-20 387.05 243.97 11.25
31-Mar-19 358.25 244.00 8.92

Objects of the Issue:

  • To make repayment or prepayment of secured borrowings availed by the company.
  • To meet working capital requirements.
  • Meet general corporate purposes.