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Exxaro Tiles IPO Surpasses All Expectations

05 August 20225 mins read by Angel One
Exxaro Tiles IPO Surpasses All Expectations
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

By the last day, Exxaro Tiles’ initial public offering was subscribed 22.68 times, receiving bids for 25,96,52,625 shares. The issue size of this IPO was Rs. 161.09 crores. According to its DRHP, this IPO consists of a fresh issue of Rs. 134.23 crores and offer for sale of Rs. 26.86 crores.

Exxaro Tiles IPO Subscription Status on Day 3 

Here’s how Exxaro Tiles IPO performed across different investor segments on the final day of bidding:

  1. Retail Individual Investors submitted bids for 21,10,36,125 shares against the allotted 5,262,200 shares. Resultantly, this category saw an a subscription of 40.10.
  2. Bids from Non-Institutional Investors stood at 2,46,87,750 compared to 4,604,425shares allocated for them. Hence, it has been subscribed 5.36 times.
  3. Qualified Institutional Buyers have submitted applications for 2,32,50,500shares compared to the 1,315,550 shares reserved for them. As a result, it has been subscribed 17.67 times.
  4. Employees have placed bids for 6,78,250 shares against 268,500 shares allotted for them, subscribing 2.53 times.

Consolidated Overview of Exxaro Tiles IPO Subscription

Here’s a tabular representation of how Exxaro Tiles IPO performed over these three days of bidding:

Investor Category IPO  Subscription
Qualified Institutional Buyers 17.67 times
Non-institutional Buyers 5.36 times
Retail Individual Investors 40.10 times
Employees 2.53 times
Total 22.68 times

Before the start of its initial public offering, the vitrified tiles manufacturer raised about Rs. 24 crores from two anchor investors.

After consulting with its merchant banks, the company issued 1,973,325 equity shares to these anchor investors at Rs. 120 per share.

Moreover, Quant Mutual Fund via its Quant Small Cap Fund and Quant Active Fund acquired 778,250 shares each and AG Dynamic Funds acquired 416,825 shares.

Highlights of Exxaro Tiles IPO from Day 1 and Day 2

Here’s an overview of the number of times Exxaro Tiles shares receive bids against its total allotted shares on the first two days.

Bidding Day QIB NII RII Employee Total
Day 1 1.11 times 0.65 times 9.29 times 0.74 times 4.67 times
Day 2 1.66 times 0.97 times 21.29 times 1.56 times 10.40 times

Wrapping Up

Exxaro Tiles managed to surpass its initial expectations, with its IPO getting subscribed 22.56 times. Nonetheless, investors who have missed out on subscribing to this IPO can buy Exxaro Tiles shares once they get listed on BSE and NSE. That said, investors must analyse the company’s financial status and business fundamentals before taking a call.


Frequently Asked Questions

  1. When is the listing date of Exxaro Tiles IPO?

17 August 2021

  1. What is the refund initiation date of Exxaro Tiles IPO?

12 August 2021

  1. Who are the lead managers of this IPO?

Pantomath Capital Advisors Private Limited was the lead manager of this IPO.

  1. Who is the registrar of this IPO?

Link Intime India Private Limited is the registrar of this IPO.

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