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Exxaro Tiles, Gujarat-based manufacturer of vitrified tiles and provider of flooring solutions, will open for initial public offering on August 4 and conclude on August 6.
The IPO will consists of a fresh issue of 1.11 crore equity shares and offer for sale of 2.23 crore equity shares. The company plans to raise Rs 161.1 crore and it has fixed the price band at Rs 118 to Rs 120 per equity share.
Company Summary
Exxaro Tiles started as a partnership firm in 2007-08 as a manufacturer of frit, a raw material used for manufacturing tiles and evolved into a producer of vitrified tiles over the years. The company has two state-of-the-art production facilties at Padra and Talod with a combined installed production capacity of 1.32 crore sq mt per annum. They have a wide range of products with 1000 plus designs which are marketed under Exxaro brand. Their well known brand names include Topaz, Galaxy, High Gloss series, etc. The company has two product categories – Double Charge Vitrified Tiles and Glazed Vitrified Tiles.
Company Strengths
- State-of-the-art manufacturing facilities with strong focus on design and quality
- Widespread domestic sales and dealer distribution network with 2000+ registered dealers
- Well diversified product portfolio with more than thousand designs
- International presence in more than 13 countries including Bosnia, Poland, UAE, etc.
- Experienced management team with significant expertise in the ceramic industry
Company Promoters and Promoter Group
Dineshkumar Patel, Kirankumar Patel, Mukeshkumar Patel, Rameshbhai Patel, Dineshbhai R. Patel, Kailashben Patel and Rakeshbhai Patel
Financial Summary
Purpose of the IPO
- The company plans to use the net proceeds from the IPO for prepayment and repayment of certain secured borrowings availed by the company to the tune of Rs 55 crore
- Funding the working capital requirements of the company amounting to Rs 40 crore
- General corporate purposes
IPO Details
IPO Opening Date | Aug 4, 2021 |
IPO Closing Date | Aug 6, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | ₹10 per equity share |
IPO Price | ₹118 to ₹120 per equity share |
Market Lot | 125 Shares |
Min Order Quantity | 125 Shares |
Listing At | BSE, NSE |
Issue Size | 1,34,24,000 equity shares totalling to Rs 161.09 crore |
Listing Date | August 17, 2021 |
IPO Lot Size
|
Application |
Lots |
Shares |
Amount (Cut-off) |
|
Minimum |
1 |
125 |
₹15,000 |
|
Maximum |
13 |
1625 |
₹195,000 |
To read more about other IPOs on August 4, click the respective below links