Exxaro Tiles IPO Review, Dates, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Exxaro Tiles IPO release date, IPO offer price, subscription, Exxaro Tiles IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 118 to Rs 120 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 125 Shares |
| Listing Date | Aug 17, 2021 |
| Offer for Sale | Rs 268.60 Million |
| Fresh Issue | Rs 1342.30 Million |
| IPO Size | Rs 1610.90 Million |
| Tick Size | 1 |
Exxaro Tiles IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Exxaro Tiles IPO – Summary
Exxaro is engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions. They commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in the manufacturing of tiles, and have over the years, diversified, expanded, and evolved into a manufacturer for vitrified tiles.
The company is distinguished by its large dealer network with whom they have developed long-term relationships over
the years. As of the date of this DRHP, they have more than 2,000 registered dealers.
The Promoter of this company is MR. MUKESHKUMAR PATEL; MR. KIRANKUMAR PATEL; MR. DINESHBHAI PATEL; AND MR. RAMESHBHAI PATEL. The lead manager to the issue is Pantomath Capital Advisors Private Limited, and the Registrar to this issue is Link Intime India Private Limited.
Exxaro Tiles IPO Date
The opening and the closing date of the IPO of Exxaro Tiles IPO is Aug 4, 2021, and Aug 6, 2021, respectively.
Check out Related IPO Links:
| Exxaro Tiles IPO GMP |
| Allotment of Exxaro Tiles IPO |
Exxaro Tiles IPO Subscription
| Day / Date | QIB | NII | RII | Employee | Total Subscription |
| 1st Day – 04 August | 1.11x | 0.65x | 9.29x | 0.74x | 4.67x |
| 2nd Day – 05 August | 1.66x | 0.97x | 21.29x | 1.56x | 10.40x |
| 5th Day – 06 August | 17.67x | 5.36x | 40.05x | 2.53x | 22.65x |
| Shares Offered or Net Issue | 1,315,550 | 4,604,425 | 5,262,200 | 268,500 | 11,450,675 |
The shares subscribed by the public will be updated here.
Exxaro Tiles IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Exxaro Tiles IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Aug 11, 2021 |
| Refunds Initiation | Aug 12, 2021 |
| Credit of Shares to Demat Account | Aug 13, 2021 |
| Share Listing Date | Aug 17, 2021 |
Exxaro Tiles IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 118 to Rs 120
Exxaro Tiles IPO Equity Size
This Initial Public Issue of 13,424,000 Equity Shares of Rs.10 each for cash at a price of Rs 118 to Rs 120 per equity share aggregating to Rs.1610.90 Million.
Exxaro Tiles IPO Share Offering
Net Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: 13,424,000 Equity Shares of Rs.10 each, aggregating to Rs.1610.90 Million
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Exxaro Tiles IPO – Live Performance
The listing date of this IPO is Aug 17, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Exxaro Tiles IPO Share Price |
Exxaro Tiles IPO Grey Market Premium
The Exxaro Tiles IPO Grey Market Premium price is Rs 10, the Kostak rate is Rs 0 and the Subject to Sauda is Rs 0.
Exxaro Tiles IPO – Company Overview
They have 1000+ designs in their product basket, which are marketed under their brand “Exxaro”. The company believes that their well-known brand series include Topaz Series, Galaxy Series, High Gloss Series, etc. They focus their research and development efforts on developing products that they believe are innovative and in line with the trends.
Their ability to meet stringent quality and technical specifications, introducing designs to meet evolving customer preferences and state-of-the-art manufacturing facilities, upgrade in-house processes to increase efficiencies have enabled them to establish their brand in the ceramic industry.
Exxaro Tiles IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 3,693.14 | 3,870.55 | 3,582.55 |
| *Total Revenue | 2,598.53 | 2,439.64 | 2,440.06 |
| Total Expense | 2426.93 | 2317.96 | 2363.31 |
| Profit After Tax | 152.23 | 112.59 | 89.17 |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 4.54 | 3.36 | 2.66 |
Exxaro Tiles IPO Promoters
The Promoter of this company is:
- Mukeshkumar Patel
- Kirankumar Patel
- Dineshbhai Pate
- Rameshbhai Patel
List of Related Parties (Key Managerial Personnel)
- Mukeshkumar Patel, Chairman, and Managing Director
- Kirankumar Patel, Whole-time Director
- Dineshbhai Patel, Whole-Time Director
- Kamal Dave, Independent Director
- Daxeshkumar Thakkar, Independent Director
- Nidhi Gupta, Independent Director
Competitive Strengths of Exxaro Tiles IPO
- Quality Assurance, timely payment, and delivery
- Broad customer base and Strong relationships with their customers
- Multiple Business verticals under one roof
- Qualified management team and employee base
Exxaro Tiles IPO – Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 13,424,000 Equity Shares aggregating up to Rs.1610.90 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| *Equity Shares outstanding prior to the Issue | 33,555,070 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Exxaro Tiles IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Prepayment/repayment of certain secured borrowings availed by their Company
2. Funding the working capital requirements of the Company
3. General corporate purposes
Business strategies of Exxaro Tiles IPO
- Strengthen their brand value
- Expand their dealer network in existing markets and increase their export presence
- Increase their sales by enhancing their manufacturing capacities and procuring materials on an outsourced basis
- Continue to improve operating efficiencies through technology enhancements and setting up own gas station
Exxaro Tiles IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- State-of-the-art, automated manufacturing facilities with a strong focus on design and quality
- Widespread sales and dealers network
- Wide product portfolio comprising 1000+ designs
- Experienced management and dedicated employee base
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 4.54 | 11.88 | 38.20 |
| Mar-20 | 3.36 | 9.97 | – |
| 31-Mar-19 | 2.66 | 8.78 | – |
Exxaro Tiles IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Exxaro Tiles Limited | 10 | [●] | 4.54 | 11.88 | 2598.53 |
| Listed Peers | |||||
| Kajaria Ceramics Limited | 1 | 51.12 | 19.37 | 16.48 | 28,022.00 |
| Asian Granito India Limited | 10 | 9.89 | 18.57 | 9.11 | 12,936.38 |
| Somany Ceramics Limited | 2 | 48.82 | 13.62 | 8.80 | 16,632.40 |
| Orient Bell Limited | 10 | 61.20 | 5.36 | 3.20 | 5,043.40 |
| Murudeshwar Ceramics Limited | 10 | NA | (2.48) | (3.59) | 817.52 |
Exxaro Tiles IPO Lead Managers
| Lead Managers |
| Pantomath Capital Advisors Private Limited 406-408, Keshava Premises Bandra Kurla Complex, Bandra East Mumbai – 400 051 Tel: +91 22 6194 6700 Fax: +91 22 2659 8690 Email: ipo@pantomathgroup.com Investor Grievance Email: ipo@pantomathgroup.com Website: www.pantomathgroup.com Contact Person: Ms. Kruthika Shetty SEBI Registration No: INM000012110 |
Exxaro Tiles IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg Vikhroli (West), Mumbai, Maharashtra 400 083 Tel: +91 22 4918 6200 Fax: +91 22 4918 6195 Email: exxaro.ipo@linkintimeindia.co.in Investor Grievance Email: exxaro.ipo@linkintimeindia.co.in Website: www.linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Exxaro Tiles IPO – Other Details
- Statutory Auditor – M/s. H.B. Kalaria & Associates
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Exxaro Tiles IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Exxaro Tiles IPO News
News 1 – Exxaro Tiles IPO DRHP Download
News 2 – Exxaro Tiles IPO RHP Download
Exxaro Tiles IPO Review FAQs
What is the Issue Size of Exxaro Tiles IPO?
The Company is making an initial public offer of 13,424,000 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Exxaro Tiles IPO?
The price band for this particular IPO ranges between Rs 118 to Rs 120. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Exxaro Tiles IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Aug 4, 2021, while the closing date is set at Aug 6, 2021.
What is the Exxaro Tiles IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Aug 11, 2021, refund initiation is on Aug 12, 2021, credit of shares is on Aug 13, 2021, and share listing date is on Aug 17, 2021.
What is the Exxaro Tiles IPO Listing Date?
Shares of this company shall be listed in the exchanges on Aug 17, 2021. The date, when the listing would be done, is stagnant on Aug 17, 2021.
Who is the Registrar of Exxaro Tiles IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Exxaro Tiles IPO?
Here are the promoters of this IPO – MR. MUKESHKUMAR PATEL; MR. KIRANKUMAR PATEL; MR. DINESHBHAI PATEL; AND MR. RAMESHBHAI PATEL. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Exxaro Tiles IPO?
We have obtained the GMP of this IPO and it is Rs 10. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Exxaro Tiles IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Exxaro Tiles Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 152.23, 2020 is 112.59, 2019 is 89.17.
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