Exxaro Tiles IPO

Exxaro Tiles IPO

Exxaro Tiles IPO description – Exxaro Tiles is engaged in manufacturing and marketing of vitrified tiles used for flooring solutions. Starting in 2007-08 as a manufacturer of raw material for tiles, the company has diversified, expanded and evolved into a manufacturer for vitrified tiles. The company’s business operations are broadly divided into two product categories – Double Charge Vitrified Tiles and Glazed Vitrified Tiles

The company supplies its products mainly in 6 sizes. It has over 1000 designs in its product basket, which are marketed under the “Exxaro” brand. Exxaro also supplies wall tiles to certain of its dealers wherein it get the products manufactured on outsourced basis.

As of March 2021, the company has more than 2,000 registered dealers in 27 states catering to various projects including residential, commercial, educational institutions, hotels, hospitals, government, religious institutions, builders/developers, etc. Exxaro also supplies products for large infrastructure related projects. Internationally, it supplies products in over 13 countries including Poland, UAE, Bosnia etc. For the nine months ended 31 December 2020, its revenue from exports contributed 18.34% to its top line.

Promoters of Exxaro Tiles – Mr Mukeshkumar Patel, Mr Kirankumar Patel, Mr Dineshbhai Patel, and Mr Rameshbhai Patel

Exxaro Tiles IPO details

Subscription Dates4 – 6 August 2021
Price BandINR118 – 120 per share
Fresh issue11,186,000 shares
Offer For Sale2,238,000 shares
Total IPO size13,424,000 shares
Minimum bid (lot size)125 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnNSE, BSE

Exxaro Tiles Financial Performance (in INR crore)

Net income9.19.011.315.3
Margin (%)

Registrar of Exxaro Tiles IPO

Link Intime India Private Limited 
C-101, 1st Floor,
247 Park Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email[email protected]
Website: http://www.linkintime.co.in

Exxaro Tiles Contact Details

Exxaro Tiles Limited
Survey No. 169 & 170,
Vavdi Harsol Road,
Mahelav, Taluka: Talod,
District.: Sabarkantha – 383 305, Gujarat
Phone: +91 02772 350555
Email: [email protected]
Website: www.exxarotiles.com

Valuation of Exxaro Tiles (as of FY2021)

Earnings Per Share (EPS): INR4.54
Price/Earnings (PE ratio): 25.99 – 26.43
Return on Net Worth (RONW): 11.88%
Net Asset Value (NAV): INR38.20 per share

Exxaro Tiles IPO GMP Daily Trend

DateExxaro IPO GMPKostakSubject to Sauda
14 August 2021INR10
13 August 2021INR10
12 August 2021INR7
11 August 2021INR10
10 August 2021INR10
9 August 2021INR10
7 August 2021INR20Few tradesFew trades
6 August 2021INR15Few tradesFew trades
5 August 2021INR15Few tradesFew trades
4 August 2021INR20Few tradesFew trades
3 August 2021INR20 Few trades Few trades
2 August 2021 INR20
31 July 2021
30 July 2021

Exxaro Tiles IPO Subscription Details (no. of times, at 5 PM)

CategoryShares OfferedDay 1Day 2Day 3

Exxaro Tiles IPO Reviews

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Motilal Oswal – 
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Prabhudas Lilladher – 
SMC Global – 1.5/5
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Exxaro Tiles IPO Allotment Status

Exxaro Tiles IPO allotment is now available on Link Intime’s website. Click on this link to get allotment status. 

Listing Performance of Exxaro Tiles

IPO Opening Date: 4 August 2021
IPO Closing Date: 6 August 2021
Finalisation of Basis of Allotment: 11 August 2021
Initiation of refunds: 12 August 2021
Transfer of shares to demat accounts: 13 August 2021
Listing Date: 16 August 2021
Opening Price on NSE: INR126 per share (up 5% from IPO price)
Closing Price on NSE: INR132.3 per share (up 10.25% from IPO price)


  1. Very interesting company! Price is expected to be around 120 so the PE ratio will be nearly 35. All its competitors trade above 45 PE.


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