Exxaro Tiles Initial Public Offering (IPO) is likely to finalize the allotment status on Wednesday. The maker 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 good response from traders. The public issue was subscribed 22.68 times in 1.14 crore shares.
If you have invested in Exaro Tiles IPO, you can check the status of share allotment on Wednesday. There are two ways to check share allotment application status – 1) through BSE, 2) through IPO registrar’s website. After allotment of shares, ineligible investors will get their refund on Thursday. The equity shares are likely to be credited to the demat accounts of eligible investors on August 13. The shares of Exxaro Tiles are expected to be listed on both NSE and BSE on August 17.
How to Check Exaro Tiles IPO Allotment Status through BSE
1) You have to visit the official website of BSE through URL (https://www.bseindia.com/investors/appli_check.aspx).
2) It will take you to a page named ‘Status of Issue Application’. There you have to select the ‘Equity’ option.
3) Select ‘Exxaro Tiles Limited’ from the drop-down menu which is next to the name of the issue.
4) Input your Application Number and Permanent Account Number (PAN). You then click on ‘I am not a robot’ and click ‘Search’ to verify yourself. It will show you the status of the application.
How to Check Exxaro Tiles IPO Allotment Status through Registrar’s Website (Link Intime India)
1) Visit the Link Intime India website using the URL: (https://www.linkintime.co.in/IPO/public-issues.html)
2) Select ‘Exxaro Tiles Limited’ option from the drop-down list under ‘Company’. Name will be filled only after finalization of allotment
3) You have to select any one of the three modes: Application Number, Client ID or PAN ID
4) In Application Type, choose between ASBA and Non-ASBA
5) Step 2. Enter the details of the mode you have selected in
6) Fill the captcha and enter the option ‘Submit’
Established in 2008, Exxaro Tiles is into 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, each at Talod and Padra, with a combined production capacity of 13.2 million square meters per annum. It has a network of over 2,000 registered dealers spread across the country. The company supplies its products to over 12 countries including Poland, UAE, Italy and Bosnia.
Exxaro Tiles IPO received bids for 25.96 crore shares against a total issue size of over 1.14 crore. The shares allotted to Qualified Institutional Buyers (QIBs) were subscribed 17.67 times. Non-institutional investors were booked 5.36 times. The quota reserved for Retail Individual Investors (RIIs) was subscribed 40.10 times.
“Exaro Tiles is engaged in manufacturing and marketing of Vitrified Tiles majorly used for Flooring Solutions. The company proposes to use the net proceeds from the new issue for repayment of borrowings and financing its working capital requirements, apart from using it for general corporate purposes. In FY21, the company reported 6 per cent growth in sales to Rs 255 crore. Net profit grew by 36 per cent to Rs 15.2 crore during the year. The company said it has the highest operating margin before depreciation and amortization (EBITDA margin) of 19 per cent among its competitors. That said, its return on equity at 11.9% is lower than Kajaria’s 16.5 per cent, with Exxaro’s total borrowings at Rs 161 crore at the end of FY21,” said Ashish Chaturmohta, director research, Sanctuary Wealth Management.
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