Exxaro Tiles LTD IPO: GMP, Issue Size, Issue Price

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Exxaro Tiles LTD IPO is all set to make a debut in the stock market with an issue size of 161.09 Cr. Exxaro Tiles is engaged in the manufacturing and marketing activities of vitrified tiles. The company manufactures Double Charge Vitrified Tiles (double-layer pigment) and Glazed Vitrified Tiles made from ceramic materials.

Exxaro Tiles IPO -Overview  

Exxaro Tiles LTD IPO Issue Date         4- 6 August 2021        
Exxaro Tiles KTD IPO Opening Date         6 August 2021        
Exxaro Tiles LTD IPO Face Value         INR 10 per share         
Exxaro Tiles LTD IPO Price         INR 120 per share        
Exxaro Tiles LTD IPO Lot Size         125 Shares        
Issue Size         161.09 Cr        
Offer for sale         26.86 Cr     
Issue Type         Book built Issue IPO         
Listing At         BSE, NSE        
QIB Shares Offered           17.67 times        
NII (HNI) Shares         5.36 times        
Company Promoters         Mr. Mukeshkumar Patel, Mr. Kirankumar Patel, Mr. Dineshbhai Patel, and Mr. Rameshbhai Patel are the company promoters. 
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Exxaro Tiles IPO-Tentative Dates         

Exxaro Tiles Limited IPO opening date         4 August 2021          
Exxaro Tiles Limited IPO closing date         6 August 2021        
Basis of Allotment         11 August 2021        
Initiation of Refunds         12 August 2021        
The credit of Shares to Demat        13 August 2021        
Exxaro Tiles Limited IPO Listing Date         16 August 2021        

Exxaro Tiles IPO – Industry Overview.        

 The Indian Ceramic Tiles industry is highly fragmented in nature, with many small-size family-owned entities. The industry enjoys some inherent advantages such as abundant raw material from indigenous sources, advanced infrastructure, and low labor costs. The size of the Indian tiles industry is estimated to be around Rs 35,000 to Rs 40,000 crores in 2019 with exports comprising close to 35% of the sector revenue.  While domestic sales were impacted, due to the Covid-19-induced lockdown, one of the strictest ever lockdowns, imposed in the country, exports remained continued to grow in 2020 which restricted the decline in the overall size of the industry to just 10-12% in 2020. Although there have been concerns about exports declining in GCC countries due to the imposition of anti-dumping duty, access to newer markets in Europe and North America due to anti-China sentiments will keep the growth in exports strong. 

Exxaro Tiles IPO

Exxaro Tiles IPO – Company Overview         

Exxaro Tiles Limited is  engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions.  They commenced business as a partnership firm in 2007-08 as a manufacturer of fruit, which is one of the raw materials used in manufacturing tiles and have over the years, diversified, expanded, and evolved into a manufacturer of vitrified tiles. business operations are broadly divided into two product categories: 

•Double Charge Vitrified Tiles: Double charge vitrified tiles are tiles that are fed through a press that prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles.  This process does not permit complex patterns but results in a long-wearing tile surface, suitable for heavy-traffic commercial projects. 

•Glazed Vitrified Tiles: Glazed vitrified tiles are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz, and other additives and fired at high temperatures to ensure high strength and low water absorption. These tiles are coated with glaze materials before the firing process. 

Exxaro Tiles IPO-Objectives         

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

Exxaro Tiles IPO – Financial Statements        

Particulars        31-Mar-21      31-Mar-20      31-Mar-19      
Total Assets        3,693.14 3,870.55 3,582.55 
Total Revenue        2,598.53 2,439.64 2,440.06 
Profit After Tax        152.23 112.59 89.17 

Exxaro Tiles IPO Strengths        

  • There are a variety of vitrified tiles design choices in different sizes.   
  • Large dealer network with 2,000+ registered dealers. 
  • Strong PAN India presence in 27 states of India. 
  • International presence with exports to 13+ countries across the globe. 
  • One of the largest manufacturing plants of glazed vitrified tiles in India. 

Exxaro Tiles IPO Weakness         

  • There has been no growth in the company in the last 3 years. In fact, as for the peers, it is seen that the whole sector is struggling.

Company Contact Information

Exxaro Tiles Limited
Survey No. 169 & 170, Vavdi Harsol Road, At & Po.
Mahelav, Taluka: Talod, Sabarkantha – 383 305

Phone: +02772-350555
Email: cs@exxarotiles.com

Exxaro Tiles Registrar

Phone: +91-22-4918 6270
Email: exxaro.ipo@linkintimeindia.co.in

Exxaro Tiles Lead Manager(s)

  1. Pantomath Capital Advisors Pvt Ltd.


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