Gujarat-based Exxaro Tiles' initial public offer (IPO) worth Rs 161 crore will open for subscription on Wednesday, August 4, and close on Friday, August 6. Under the IPO, Exxaro Tiles shares will be offered in the price band of Rs 118-120 apiece. Exxaro is a manufacturer of vitrified tiles used majorly for flooring solutions.

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While 40 percent of the issue is reserved for retail investors, the quota for qualified institutional investors and non-institutional investors is set at 25 percent and 35 percent respectively.

Besides, the IPOs of three other companies, Windlas Biotech, Devyani International and Krsnaa Diagnostics, will open for subscription on the same day.

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Here are other important details to know about the Exxaro Tiles IPO:

IPO dates

The Exxaro Tiles IPO will open for subscription for three days, starting Wednesday, till August 6.

IPO size

The IPO comprises 1.34 crore shares, including fresh issuance worth Rs 134 crore and an offer for sale worth Rs 27 crore.

Lot size

Shares will be traded in lots of 125, and in multiples thereof. At the upper end of the price band, bidding for one lot of shares will cost investors Rs 15,000.

Company profile

Incorporated in 2008, Exxaro Tiles is into the manufacturing and marketing of vitrified tiles. Exxaro's business operations are broadly divided into two categories: double charged vitrified tiles and glazed vitrified tiles. The company has two manufacturing plants, one each at Talod and Padra, with a combined installed production capacity of 1.32 crore square metres per annum.

It has a pan-India network of more than 2,000 registered dealers. The company also supplies its products to more than 12 countries including Poland, the UAE, Italy and Bosnia.

Listing

After the allotment, Exxaro Tiles shares will be listed on stock exchanges BSE and NSE.

Utilisation of funds

Exxaro plans to utilise the proceeds from the IPO towards repayment of debt, and for working capital requirements and general corporate purposes. The issue constitutes 30 percent of the company's post-issue paid-up capital.

Book running lead manager

Pantomath Capital Advisors is the book running lead manager, and Link Intime India is the registrar.

First Published:Aug 3, 2021 5:51 PM IST