Exxaro Tiles IPO opens for investors tomorrow - August 4Exxaro Tiles share sale via initial public offering (IPO) will open for bidding tomorrow- August 4, and will end on Friday, August 6 - remaining open for subscribers for three days.
The Rs 161 crore initial public offer has anissue size is 13.4 million equity shares comprising11.18 million fresh shares and an offer for sale of up to 2.23 million.
The company, whichmanufactures and sells vitrified floor tiles,is selling shares in the price band of Rs 118 to Rs 120 per equity share, through its public offer.A retail individual investor canbuy a minimum of one lot of 125 shares up to a maximum of 13lots.The minimum bid lot is 125 equity shares and at multiples of 125 equity shares thereafter.Exxaro Tiles was incorporated in 2008 and isinvolved in the marketing and manufacturingactivities of vitrified tiles.
The company manufactures double charge vitrified tiles (double layer pigment) as well as glazed vitrified tiles made from ceramic materials such as quartz, clay, and feldspar.Exxaro Tiles' product portfolio comprises more than 1000different designs of tiles in sixsizes.
Galaxy Series, Topaz Series, and High Gloss Series are some of the well-established products of the firm.
The company also supplies its products to large infrastructure projects such as educational, hotels, educational institutions, government, hospitals, among others.Mr.
Kirankumar Patel, Mr.
Mukeshkumar Patel, Mr.
Dineshbhai Patel, and Mr.
Rameshbhai Patel are the promoters of the company.
ExxaroTilles seeks to utilise the IPO proceeds to repay its secured borrowings, meet its working capital requirements, and forgeneral corporate purposes.The shares are proposed to be listed on stock exchanges BSE and NSE.