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Exxaro Tiles Limited IPO: Study Before Subscribing

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Exxaro Tiles Limited, manufacturers of vitrified tiles in India, will launch its initial public offer (IPO) on Aug 04, 2021. The offer will close on Aug 06, 2021, and the company has fixed the price band at ₹118-120 per equity share.

About Exxaro Tiles Limited

Exxaro Tiles Limited is engaged in manufacturing and marketing vitrified tiles used majorly for flooring solutions. The company manufactures Double Charge Vitrified Tiles (double layer pigment) and Glazed Vitrified Tiles made from ceramic materials, i.e. clay, quartz, and feldspar. Its product portfolio consists of 1000+ different designs of tiles in 6 sizes. Topaz Series, Galaxy Series, and High Gloss Series are some of the well-known brand series of the company. Exxaro Tiles currently has two manufacturing facilities, one each in Padra and Talod in Gujarat, with an installed production capacity of 1,32,00,000 sq. mt. per annum. It further has six display centres in six cities. It also has a marketing office in two cities, Delhi and Morbi.

Exxaro Tiles Limited IPO Issue Details

OPENS ON: Aug 4, 2021
CLOSES ON: Aug 6, 2021 
Price band: ₹118 to ₹120 per equity share 
Lot size: 125 Shares
One lot costing: ₹15,000 
Face Value: ₹10 per equity share 
Listing on: NSE, BSE
Issue size: ₹161.09 crores (Fresh issue: ₹134.23 cr + Offer For Sale: ₹26.86 crores)
Shareholding: Promoter holding will stand at 42.5%  post-issue from 56.09% pre-issue.

Will list on the exchange on Aug 17, 2021.

Objects of the issue:

  • To make repayment or prepayment of secured borrowings availed by the company. 
  • To meet working capital requirements.
  • To meet general corporate purposes.

Interesting facts about Exxaro Tiles Limited IPO:

  • The company has a large dealer network of more than 2,000 registered dealers with a pan-India presence (24 states/union territories). The company also 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 over 12 countries including Poland, UAE, Italy, Bosnia and others.
  • Considering the FY-21 adjusted EPS of Rs.3.40 on a post-issue basis, the company is going to list at a P/E of 35.27 with a market cap of Rs.5,369 mn, while its peers namely Kajaria Ceramics, Asian Granito and Somany Ceramics are trading at a P/E of 51.37, 10.55 and 43.15 respectively.

Get the complete coverage of the Exxaro Tiles Limited IPO in the MSFL Research Report Here. To apply for Exxaro Tiles Limited IPO, you can do it from our Marwadi Shares & Finance Ltd website.

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