Exxaro Tiles IPO

Exxaro Tiles is among the leading names in the space of vitrified tiles. The company is closely engaged in the manufacturing and marketing of such tiles. Its product portfolio comprises over a thousand tile designs, and it offers top quality products under the names of High Gloss Series, Topaz Series, Galaxy Series, etc.

In the last couple of years, the company has strengthened its footing in exports as well. Currently, the company offers products to several infrastructure projects that include – hotels, residences, educational institutes, commercial buildings, hospitals, and religious institutions, among others.

Exxaro Tiles IPO Objectives

- Pre-payment and repayment of the company's borrowed securities
- Addressing working capital requirements
- Meeting general corporate purposes

Exxaro Tiles IPO - Details

50% of this IPO's shares are reserved for qualified institutional buyers, 35% is held for retail investors, and 15% is set aside for non-institutional buyers.

Opening Date

04 August 2021

Closing Date

06 August 2021

Price Band

₹118 - ₹120

per equity share

Issue Size

₹ 161.09 crores

Face Value

₹ 10

per equity share

Market Lot

125 shares

Opening Date

04 August 2021

Closing Date

06 August 2021

Price Band

₹118 - ₹120

per equity share

Issue Size

₹ 161.09 crores

Face Value

₹ 10

per equity share

Market Lot

125 shares

Listing at NSE, BSE

Exxaro Tiles IPO Important Dates

IPO Open Date 04 August 2021
IPO Close Date 06 August 2021
Basis Of Allotment Date 11 August 2021
Initiation Of Refunds 12 August 2021
Credit Of Shares To
Demat ACcount
13 August 2021
IPO Listing Date 17 August 2021
UPI Mandate Expiry Date -

Exxaro Tiles IPO Latest News and Subscription Status Today [Live]

Day 3 : 06 August 2021
Day 2 : 05 August 2021
Day 1 : 04 August 2021

At 05:10 p.m.

- This IPO has been subscribed 22.55x by 5:10 PM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 17.67x
- (NII) Non-institutional buyers: 5.36x
- (RII) Retail Individual buyers: 2.53x
- Employees: 2.53x.

 

At 04:25 p.m.

- This IPO has been subscribed 22.18x by 4:25 PM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 17.67x
- (NII) Non-institutional buyers: 5.36x
- (RII) Retail Individual buyers: 39.04x
- Employees: 2.52x

 

At 03:20 p.m.

- This IPO has been subscribed 17.32x by 3:20 PM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 8.94x
- (NII) Non-institutional buyers: 3.04x
- (RII) Retail Individual buyers: 32.69x
- Employees: 2.00x

 

At 02:10 p.m.

- This IPO has been subscribed 16.03x by 2:10 PM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 5.42x
- (NII) Non-institutional buyers: 2.67x
- (RII) Retail Individual buyers: 31.10x
- Employees: 1.96x

 

At 01:05 p.m.

- This IPO has been subscribed 15.09x by 1:05 PM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 5.36x
- (NII) Non-institutional buyers: 2.37x
- (RII) Retail Individual buyers: 29.34x
- Employees: 1.72x

 

At 11:50 a.m.

- This IPO has been subscribed 13.61x by 10:50 AM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.89x
- (NII) Non-institutional buyers: 1.75x
- (RII) Retail Individual buyers: 27.52x
- Employees: 1.67x

 

At 10:45 a.m.

- This IPO has been subscribed 11.74x by 10:45 AM. on Day 3
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.66x
- (NII) Non-institutional buyers: 1.12x
- (RII) Retail Individual buyers: 24.07x
- Employees: 1.64x

 

At 05:05 p.m.

- This IPO has been subscribed 10.29x by 5:05 PM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.65x
- (NII) Non-institutional buyers: 0.93x
- (RII) Retail Individual buyers: 21.10x
- Employees: 1.56x

 

At 04:05 p.m.

- This IPO has been subscribed 9.68x by 4:05 PM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.64x
- (NII) Non-institutional buyers: 0.87x
- (RII) Retail Individual buyers: 19.83x
- Employees: 1.24x

 

At 02:45 p.m.

- This IPO has been subscribed 7.94x by 2:45 PM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.64x
- (NII) Non-institutional buyers: 0.76x
- (RII) Retail Individual buyers: 16.15x
- Employees: 0.83x

 

At 01:50 p.m.

- This IPO has been subscribed 7.41x by 1:50 PM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.17x
- (NII) Non-institutional buyers: 0.74x
- (RII) Retail Individual buyers: 15.14x
- Employees: 0.83x

 

At 12:50 p.m.

- This IPO has been subscribed 6.88x by 12:50 PM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.17x
- (NII) Non-institutional buyers: 0.72x
- (RII) Retail Individual buyers: 14.02x
- Employees: 0.81x

 

At 11:50 a.m.

- This IPO has been subscribed 6.23x by 11:50 AM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.17x
- (NII) Non-institutional buyers: 0.70x
- (RII) Retail Individual buyers: 12.60x
- Employees: 0.80x

 

At 10:40 a.m.

- This IPO has been subscribed 5.31x by 10:40 AM. on Day 2
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.17x
- (NII) Non-institutional buyers: 0.68x
- (RII) Retail Individual buyers: 10.63x
- Employees: 0.78x

 

At 05:10 p.m.

- This IPO has been subscribed 4.63x by 5.10 PM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.95x
- (NII) Non-institutional buyers: 0.65x
- (RII) Retail Individual buyers: 9.24x
- Employees: 0.74x

 

At 04:20 p.m.

- This IPO has been subscribed 4.03x by 4.20 PM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.95x
- (NII) Non-institutional buyers: 0.35x
- (RII) Retail Individual buyers: 8.19x
- Employees: 0.64x

 

At 02:55 p.m.

- This IPO has been subscribed 3.29x by 2:55 PM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.95x
- (NII) Non-institutional buyers: 0.16x
- (RII) Retail Individual buyers: 6.77x
- Employees: 0.13x

 

At 01:45 p.m.

- This IPO has been subscribed 2.57x by 1:45 PM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.15x
- (RII) Retail Individual buyers: 5.47x
- Employees: 0.09x

 

At 12:45 p.m.

- This IPO has been subscribed 2.01x by 12:45 PM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.14x
- (RII) Retail Individual buyers: 4.25x
- Employees: 0.06x

 

At 11:45 a.m.

- This IPO has been subscribed 1.33x by 11:45 AM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.06x
- (RII) Retail Individual buyers: 2.83x
- Employees: 0.05x

 

At 10:30 a.m.

- This IPO has been subscribed 0.59x by 10:30 AM. on Day 1
- It is a public issue of 1,14,50,675 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 1.27x
- Employees: 0.02x

 

Why Should You Invest in Exxaro Tiles IPO?

Exxaro Tiles has a strong network of sales and dealers with an experienced management team at its disposal. Collectively, they work in favour of the company’s brand image and market reputation.

Its robust number of subscribers and smart use of innovations add to its growth. This offers upsides regarding its growth and earnings prospects, which could allow investors to realise significant returns on their investments.

Additionally, its wide product portfolio and robust profit margins place the company in a convenient position regarding prospective growth and expansion. This also ensures faith among intending investors regarding stable earnings. Exxaro Tiles is also the first company in this sector to launch an IPO in nearly 10 years.

That said, investors willing to subscribe to this IPO should be cautious and plan their investments accordingly.

Financial highlights

Financial Year Total Revenue in Million Total Assets in Million Profit After Tax in Million 
2019 - 2020 Rs. 2,439.64 Rs. 3,845.42 Rs. 112.59
2018-2019 Rs. 2,440.06 Rs. 3,568.41 Rs. 89.17

How to Apply for Exxaro Tiles IPO?

You can apply for the Exxaro Tiles IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel Broking account. Proceed to book Exxaro Tiles IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel Broking, apply directly for Exxaro Tiles IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel Broking to begin your investment journey.

Exxaro Tiles IPO – Noteworthy Highlights

Exxaro Tiles boasts 2 state-of-the-art manufacturing units in Talod and Padra. It also has 2 marketing offices in Morbi and Delhi and 6 display centres in six cities. Other highlights include :

- The company has a robust dealer network with more than 2000 registered dealers.
- Exxaro has strong pan-India visibility across 27 Indian states.
- It boasts having one of the country's largest manufacturing units of quality glazed vitrified tiles.
- Exxaro has a strong product profile of more than 1000 tile designs in six sizes.
- Its state-of-the-art manufacturing units have an annual production capacity of 1,32,00,000 sq. mt.
- It has a strong export business globally, especially in countries such as the USA, Poland, and Bosnia.

Exxaro Tiles IPO - SWOT Analysis

strengths

Strengths

  • Experience of Promoters: The company's promoters have been closely associated with the tiles industry and know the ins and outs of the market better than most. This has helped the company develop the necessary strategies to boost its presence in the market and develop a better relationship with customers.
  • Robust Distribution Network: This company enjoys a widespread distribution network with nearly 2000 registered dealers. Also, Exxaro Tiles’ diversified product portfolio helps it to expand its customer base and market presence.
  • Strong Financial Standing: Over the years, Exxaro Tiles has maintained a strong financial standing. Its financial statements indicate a surge in operating income and healthy profit margins, giving it the flexibility to easily address growth and working capital requirements.
Weaknesses

Weaknesses

  • Working Capital-intensive Business: Exxaro Tiles' working capital requirement has increased in the last couple of years. This is mostly due to an increase in its product range, variations in design, and inventory level.
  • Sensitivity to Change in Raw Material Prices: Exxaro Tiles' profitability is sensitive to change in the costs of raw materials and fuel prices. Any hike in the same tends to lower the profit from operations.
Opportunities

Opportunities

  • Portfolio Diversity: This company already has a vast product portfolio. However, with changes in tastes and preferences of the market and the availability of cash at hand, this company could diversify its portfolio even further.
Threats

Threats

  • Intense Competition: Since there are low entry barriers in the ceramic industry, the market has big and organised names and small-scale manufacturers. This makes the space quite competitive and challenges the market share of Exxaro Tiles.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Experience of Promoters: The company's promoters have been closely associated with the tiles industry and know the ins and outs of the market better than most. This has helped the company develop the necessary strategies to boost its presence in the market and develop a better relationship with customers.
  • Robust Distribution Network: This company enjoys a widespread distribution network with nearly 2000 registered dealers. Also, Exxaro Tiles’ diversified product portfolio helps it to expand its customer base and market presence.
  • Strong Financial Standing: Over the years, Exxaro Tiles has maintained a strong financial standing. Its financial statements indicate a surge in operating income and healthy profit margins, giving it the flexibility to easily address growth and working capital requirements.

Weaknesses 

  • Working Capital-intensive Business: Exxaro Tiles' working capital requirement has increased in the last couple of years. This is mostly due to an increase in its product range, variations in design, and inventory level.
  • Sensitivity to Change in Raw Material Prices: Exxaro Tiles' profitability is sensitive to change in the costs of raw materials and fuel prices. Any hike in the same tends to lower the profit from operations.

Opportunities 

  • Portfolio Diversity: This company already has a vast product portfolio. However, with changes in tastes and preferences of the market and the availability of cash at hand, this company could diversify its portfolio even further.

Threats 

  • Intense Competition: Since there are low entry barriers in the ceramic industry, the market has big and organised names and small-scale manufacturers. This makes the space quite competitive and challenges the market share of Exxaro Tiles.
  •  

Competitor Analysis: Market Peers

The ceramic tile industry in India was valued at a whopping $3,720.2 million in 2019. The same is projected to touch the $7,144.7 million mark by 2027 at a CAGR of 8.6% between 2020 and 2027. In such a robust industry, Exxaro Tiles is among the leading names. However, at the same time, this company faces stiff competition from its peers. Some of them are listed below -

Market Peers  Market Capitalisation increase % in 1 year (as of 30 July 2021)
Kajaria Ceramics 139.19%
Somany Ceramics 435.24%
Cera Sanitaryware 100.41%
HSIL 361.50%
Pokarna 192.08%
ASI Industries 86.03%
Asian Granito India -25.40%
Nitco 55.93%
Orient Bell 365.63%
Aro Granite 234.14%
Murudeshwar Ceramics 84.50%
Pacific Industries 155.80%
Divyashakti Granites 72.25%
Madhav Marbles & Gran 211.95%
Elegant Marbles & Gran 88.98%
Restile Ceramics 42.86%
Neelkanth Rockminerals 25.58%
Ravileela Granites 99.68%
Midwest Gold 89.83%
Glittek Granites 154.62%

Exxaro Tiles IPO FAQs

What is Exxaro Tiles IPO?

Exxaro Tiles IPO will have 13424000 shares comprising Rs. 143.23 crores worth of new shares and offer for sale shares of Rs. 26.86 crores .

When will Exxaro Tiles IPO open for subscription?

After the allotment process is completed, you will receive the IPO shares in your DEMAT account.

What is the minimum order quantity for Exxaro Tiles IPO?

125 shares

Who is the registrar for Exxaro Tiles IPO?

Link Intime India Private Ltd is the registrar for this upcoming IPO.

Who are the promoters of Exxaro Tiles?

The promoters of Exxaro Tiles are Mukeshkumar Patel, Dineshbhai Patel, Kirankumar Patel, and Rameshbhai Patel.

Who is the lead manager to Exxaro Tiles IPO?

Pantomath Capital Advisors Pvt Ltd is the lead manager to Exxaro Tiles IPO.

Which investor categories are allowed to participate in Exxaro Tiles IPO?

Non-institutional bidders, retail individual investors, and qualified institutional buyers are allowed to participate in Exxaro Tiles IPO.

How will I receive shares?

After the allotment process is completed, you will receive the IPO shares in your DEMAT account.

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