Exxaro Tiles initial public offering (IPO) is likely to finalise the allotment status on Wednesday. The manufacturer of vitrified tiles opened its Rs 161-crore public issue last week with a price band of Rs 118-120 per share. Exxaro Tiles IPO received a decent response from the traders. The public issue was subscribed 22.68 times over the 1.14 crore shares.
If you have invested in Exxaro Tiles IPO, you can check the share allotment status on Wednesday. There are two ways to check the share allotment application status — 1) Via BSE, 2) Via the IPO registrar’s website. Once the shares are alloted, the ineligible investors will get their refunds on Thursday. The equity shares likely be credited to the demat accounts of eligible investors on August 13. Exxaro Tiles shares are expected to be listed on August 17 on both NSE and BSE.
How to Check Exxaro Tiles IPO Allotment Status via BSE
1) You need to go to the official BSE website via the URL (https://www.bseindia.com/investors/appli_check.aspx).
2) It will take the you to a page called ‘Status of Issue Application’. There you have to select the ‘Equity’ option.
3) Select ‘Exxaro Tiles Limited’ from the drop-down menu that is besides the issue name.
4) Input your application number and the Permanent Account Number (PAN). Then you just click the ‘I am not a robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check Exxaro Tiles IPO Allotment Status via the Registrar’s Website (Link Intime India)
1) Go to the Link Intime India website using the URL: (https://www.linkintime.co.in/IPO/public-issues.html)
2) Select the ‘Exxaro Tiles Limited’ option from the drop-down list under ‘Company’. The name will be populated only if the allotment is finalised
3) You need to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) Fill Captcha and enter ‘Submit’ option
Established in 2008, Exxaro Tiles is into the manufacturing and marketing of vitrified tiles. Exxaro’s business operations are broadly divided into two categories: double charged vitrified tiles and glazed vitrified tiles. The company has two manufacturing plants, one each at Talod and Padra, with a combined installed production capacity of 1.32 crore square metres per annum. Spread across the country, it has a network of more than 2,000 registered dealers. The company also supplies its products to more than 12 countries including Poland, the UAE, Italy and Bosnia.
Exxaro Tiles IPO received bids of over 25.96 crore shares against the total issue size of over 1.14 crore. The share allocated for the qualified institutional buyers (QIBs) was subscribed 17.67 times. Those of non institutional investors was booked 5.36 times. The quota reserved for retail individual investors (RIIs) was subscribed 40.10 times.
“Exxaro Tiles has engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions. The company proposes to utilise the net proceeds from the fresh issue towards payment of borrowings and funding its working capital requirements besides utilising it for general corporate purposes.In FY21, the company reported a 6 per cent rise in sales to Rs 255 crore. Net profit jumped 36 per cent to Rs 15.2 crore during the year. The company said it has the highest operating margins before depreciation and amortisation (EBITDA margin) of 19 per cent among peers. That said, its return on equity at 11.9% is lower than Kajaria’s 16.5 per cent Exxaro’s total borrowings at the end of FY21 were Rs 161 crore,” said Ashish Chaturmohta, director research, Sanctum Wealth Management.
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