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This article is more than 1 month old.

Exxaro Tiles IPO price band fixed at Rs 118-120; issue to open on Aug 4

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Exxaro Tiles' IPO comprises a fresh issue of 1,11,86,000 equity shares and an offer for sale (OFS) of 22,38,000 equity shares by selling shareholder Dixitkumar Patel. At the higher price band, the total offer size comes to Rs 161.08 crore.

Exxaro Tiles IPO price band fixed at Rs 118-120; issue to open on Aug 4
Exxaro Tiles has fixed the price band for its Rs 161.08-crore initial public offering (IPO) at Rs 118-120 per share. The 32nd IPO to be launched so far this year will open for subscription on August 4 and will close on August 6.
Anchor investors' book, if any, is expected to open for a day on August 3, a day before the offer opens for retail investors.
Exxaro Tiles' IPO comprises a fresh issue of 1,11,86,000 equity shares and an offer for sale (OFS) of 22,38,000 equity shares by selling shareholder Dixitkumar Patel. At the higher price band, the total offer size comes to Rs 161.08 crore.
The company has reserved up to 2,68,500 equity shares for its employees.
The market lot size for the issue is 125 shares and a retail-individual investor can apply for up to 13 lots.
Pantomath Capital Advisors Private is the lead manager to the issue.
Meanwhile, Devyani International and Windlas Biotech will also be launching their IPOs on August 4.
Exxaro Tiles will utilise the net proceeds from the fresh issue for repaying debt (Rs 50 crore), and working capital requirements (Rs 45 crore).
Promoters Mukeshkumar Patel, Kirankumar Patel, Dineshbhai Patel, and Rameshbhai Patel — hold 55.19 percent equity stake in the company.
Exxaro Tiles is a Gujarat-based manufacturer of vitrified tiles. The company manufactures Double Charge Vitrified Tiles and Glazed Vitrified Tiles made from ceramic materials i.e. clay, quartz, and feldspar.
The company supplies its products to large infrastructure projects i.e. residential, educational, commercial, hotels, hospitals, government, builders or developers, religious institutions, etc.
It also exports tiles to different countries across the globe i.e. Poland, Bosnia, the USA, and others. For FY2021, the company's revenue from exports contributed 13.88 percent to total revenue.
The company has two manufacturing facilities in Padra and Talod with an installed production capacity of 1,32,00,000 sq mt per annum.