Exxaro Tiles Limited initiated its operations in 2008. It manufactures vitrified tiles. The company has more than 1000 Different designs of tiles across 6 sizes. The business of the company is well spread into supplying towards the infrastructural lobby. It supplies its products to projects relating to education, industries, hotels, builders, hospitals, Government etc. Thus the company has large domestic exposure. Along with this the company also exports its products to Countries like the U.S.A, Bosnia and Poland.
Exxaro tiles has two manufacturing plants at Talod and Padra. Its marketing offices are in Morbi and Delhi.
IPO DETAILS
The EXXARO TILES LIMITED IPO is set to launch on 4th Aug, 2021. The subscription timeline extends till 6th Aug, 2021. The size for the IPO is 161.09 Crore Rs. Shares issued through Offer for sale are 26.86 Crore Rs. Shares worth Rs. 134.23 Crore are issued through Fresh issue. The minimum lot size is 125 shares and the price is set at 118 Rs. – 120 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 10 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
| IPO OPENING DATE | 4th Aug, 2021 |
| IPO CLOSING DATE | 6th Aug, 2021 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 118 Rs. – 120 Rs. |
| LOT SIZE | 125 shares |
| MINIMUM ORDER QUANTITY | 125 shares |
| ISSUE SIZE | 161.09 Crore Rs. |
| OFFER FOR SALE | 26.86 Crore Rs. |
| FRESH ISSUE | 134.23 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 17th Aug, 2021 |
IMPORTANT DATES
| IPO OPENING DATE | 4th Aug, 2021 |
| IPO CLOSING DATE | 6th Aug, 2021 |
| IPO ALLOTMENT DATE | 11th Aug, 2021 |
| REFUNDS | 12th Aug, 2021 |
| DEMAT A/C CREDITED ON | 13th Aug, 2021 |
| IPO LISTING DATE | 17th Aug, 2021 |
The Exxaro Tiles Limited IPO begins for subscription from 4th Aug, 2021. The IPO subscription would continue till 6th Aug, 2021. The allotment status for the shareholders who applied would come on 11th Aug, 2021. The refunds for the ones who did not get allotment would be initiated on 12th Aug, 2021. The DEMAT accounts of shareholders would be credited on 13th Aug, 2021. The listing of the company would be accompanied on 17th Aug, 2021.
PROMOTER AND LEAD MANAGERS
The promoters for the company are Kirankumar Patel, Rameshbhai Patel, Denieshbhai Patel and Mukeshbhai Patel.
The only one lead manager for the company is Pantomath Capital Advisors Private Limited.
The minimum lot size for the company is decided at 125 shares. This holding accounts to 15000 Rs.. The maximum lot size is decided at 1625 shares. This amounts to Rs. 195000. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 125 shares | 15000 Rs |
| Maximum | 1625 shares | 195000 Rs |
OBJECTIVES FOR THE IPO
- The money from the IPO can also be utilized to meet general corporate purposes.
- For settling the borrowings of the company.
COMPANY FINANCIALS
| Particulars (in Million Rs.) | 2020-21 | 2019-20 | 2018-19 |
| ASSETS | 3693 | 3870 | 3582 |
| REVENUE | 2598 | 2439 | 2440 |
| NET PROFIT | 152 | 112 | 89 |
The financials are outstanding for a scalable company. It has an asset base of roughly3700 Crore Rs in the last year. The assets have kept fluctuating since the last 3 years, however the COVID times may have forced the company to sell its assets to remain profitable and afloat. The revenues however have increased over the period of time. If we notice then the assets have decreased in 2021 but the revenues have increased by more than 150 Crore Rs.
Looking at the profitability the company has been doing well since the last 2 years. The initial profits in 2019 were 90 Crore Rs which have almost increased by 1.75 Times in 2 years. The last profit recorded was 152 Crore Rs. The company has a small presence in the market, however it can expand and become a prominent player in the market.
PROS
- Exxaro has a great financial performance in the last 3 years,
- The company has a manufacturing potential of 1.32 Cr. Sq Mt. P.A.
- Exxaro has 2 manufacturing plants in India.
CONS
- The company’s business is not that wide spread and could face strong competition in the coming times. Hence it is necessary for it to expand if it wants to sustain the flow of competition.
EXXARO TILES LIMITED IPO APPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section
- Click the Exxaro Tiles Limited IPO button and press the BID button
- Entering the details asked for like UPI ID, Quantity and price
- Submit the application form of IPO
- Visiting the application of UPI for approving the transaction
Now, applying for an IPO online is possible with most of the Discount and online brokers.
