By the last day, Exxaro Tiles’ initial public offering was subscribed 22.68 times, receiving bids for 25,96,52,625 shares. The issue size of this IPO was Rs. 161.09 crores. According to its DRHP, this IPO consists of a fresh issue of Rs. 134.23 crores and offer for sale of Rs. 26.86 crores.
Here’s how Exxaro Tiles IPO performed across different investor segments on the final day of bidding:
Here’s a tabular representation of how Exxaro Tiles IPO performed over these three days of bidding:
Investor Category | IPO Subscription |
Qualified Institutional Buyers | 17.67 times |
Non-institutional Buyers | 5.36 times |
Retail Individual Investors | 40.10 times |
Employees | 2.53 times |
Total | 22.68 times |
Before the start of its initial public offering, the vitrified tiles manufacturer raised about Rs. 24 crores from two anchor investors.
After consulting with its merchant banks, the company issued 1,973,325 equity shares to these anchor investors at Rs. 120 per share.
Moreover, Quant Mutual Fund via its Quant Small Cap Fund and Quant Active Fund acquired 778,250 shares each and AG Dynamic Funds acquired 416,825 shares.
Here’s an overview of the number of times Exxaro Tiles shares receive bids against its total allotted shares on the first two days.
Bidding Day | QIB | NII | RII | Employee | Total |
Day 1 | 1.11 times | 0.65 times | 9.29 times | 0.74 times | 4.67 times |
Day 2 | 1.66 times | 0.97 times | 21.29 times | 1.56 times | 10.40 times |
Exxaro Tiles managed to surpass its initial expectations, with its IPO getting subscribed 22.56 times. Nonetheless, investors who have missed out on subscribing to this IPO can buy Exxaro Tiles shares once they get listed on BSE and NSE. That said, investors must analyse the company’s financial status and business fundamentals before taking a call.
17 August 2021
12 August 2021
Pantomath Capital Advisors Private Limited was the lead manager of this IPO.
Link Intime India Private Limited is the registrar of this IPO.
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