Exxaro Tiles Ltd, a vitrified tile maker company is ready to raise the money via public bidding. Thus, the company is all set to open the subscription on 4th August 2021 which will last till 6th August 2021. The Gujarat-based vitrified tile-manufacturer company got incorporated in the year 2008 and commences its business thereafter.
Moreover, Exxaro Tiles initiated its business as a partnership firm and progressed into a maker of vitrified tiles over the years.
Furthermore, the company is engaged in producing two kinds of products. They are glazed vitrified tiles and double charge vitrified tiles. Both the products are advertised under the brand name Exxaro which comes in six different sizes and more than 1000 designs are available.
Moreover, the company deals with 2000 dealers, and its exclusive tiles got traded in 24 states and Union territories. Moreover, the company has also enlarged its business globally and export its products to more than 12 countries which includes Italy, UAE, Poland, and Bosnia. Exxar Tiles Ltd has two manufacturing plants in Gujarat (Padra, Talod) with an adequate installed capacity.
Let’s move further and get a detailed view of IPO:
Promoters of the Company
Mr. Kiran Kumar Patel, Mr. Mukesh Kumar Patel, Mr. Dinesh Bhai Patel, and Mr. Ramesh Bhai Patel are the promoters of the company.Â
Issuance of Shares
Issue size: Rs. 161.09 crore
Face value: Rs.10 per equity share
Listing At: BSE and NSE
The objective of the Issuance of Shares
- To repay or pre-pay company’s borrowings wholly or partially
- For general corporate purposes.
- To meet working capital requirements.
IPO Share Price
The company decides the price bracket at Rs 118-120 per equity share.
Retailers Reserved Lot size
Up to 13 lots i.e. 1625 shares which make a total of Rs. 195,000 are valid for subscription, in the case of the retail individual investors.
IPO Opening and Closing Date
The Exxaro Tiles IPO is likely to open for subscription on 04th August 2021 and will close on 06th August 2021.
Lot size and Minimum number of shares
Each lot size includes a total of 125 shares. Therefore, an investor should subscribe for a minimum count of 125 shares only.
Date of allotment of shares
An allotment of shares (IPO) will be done on 11th August, 2021and which later on credited to your dematerialization account by 13th August 2021.
Tentative Listing Date
The IPO listing date of Exxaro Tiles is yet to decide. Moreover, the expected date maybe 17th August 2021.