Exxaro Tiles IPO

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 


Min Order Quantity 


Listing At 


Issue Size 

1,34,24,000 equity shares totalling to Rs 161.09 crore 

Listing Date  

August 17, 2021 

IPO Lot Size




Amount (Cut-off) 









To read more about other IPOs on August 4, click the respective below links