Exxaro Tiles IPO Subscription Status: FINAL
Exxaro Tiles Limited, incorporated in 2007, is engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions. They commenced business as a manufacturer of frit, which is one of the raw materials used in the manufacturing of tiles, and have over the years, diversified, expanded, and evolved into a manufacturer for vitrified tiles.
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 17.67x |
| Non-Insti. (HNI) | 15% | 5.36x |
| Retail (RII) | 35% | 39.88x |
| Employee | – | 2.53x |
| Total Subscription | 100% | 22.57x |
Exxaro Tiles IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.95x | 1.65x | 17.67x |
| HNI | 0.65x | 0.93x | 5.36x |
| Retail | 9.24x | 21.10x | 39.88x |
| Employee | 0.74x | 1.56x | 2.53x |
| Total | 4.63x | 10.29x | 0.00x |
Exxaro Tiles IPO Subscription: Analyst Recommendations
CHOICE BROKING – AVOID [ Report ]
“At the higher price band of Rs. 120, the company is demanding a P/E valuation of 35.3x (to its restated FY21 EPS of Rs. 3.4). Considering the RoE of 5.6%, the demanded valuation seems to be highly stretched. There are already much better-established peers in the listed space, which investors can consider for investment. This we are assigning an “AVOID” rating for the issue.”
Exxaro Tiles IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹161.09 Cr |
| Open Date | 04/08/2021 |
| Close Date | 06/08/2021 |
| Face Value | ₹10/- per Equity Share |
| IPO Price | ₹118 – ₹120 |
| Lot Size | 125 shares |
| Lots | Min 1 – Max 13 |
Exxaro Tiles IPO: Financials
| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Revenue from Ops | ₹242.25 Cr | ₹240.74 Cr | ₹255.15 Cr |
| Profit before Excep* | ₹7.68 Cr | ₹12.17 Cr | ₹17.16 Cr |
| Profit after Tax | ₹8.92 Cr | ₹11.26 Cr | ₹15.22 Cr |
| EPS (Basic) | 2.66 | 3.36 | 4.54 |
| As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | 3.83 | 30.81 | 31.33 |
Exxaro Tiles IPO: Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| Exxaro Tiles | 31.33 |
| Highest (Orient Bell) | 61.20 |
| Lowest (Asian Granito) | 9.89 |
| Sector Avg | 42.76 |
Exxaro Tiles IPO Subscription – FAQs
1. How to apply for Exxaro Tiles IPO in the Retail Category?
A: An investor in the retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Exxaro Tiles IPO in HNI Category?
A: An investor can apply in the HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospectus (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
