Exxaro Tiles shares marked a muted listing on the bourses today amid flat marketplace momentum. Exxaro Tiles stocks started trading at Rs 126 per share, 5% above the upper finish of the IPO cost of Rs 120 per share. Established in 2008 as a manufacturer of frit, one of the raw components employed in the manufacturing of tiles, Exxaro has more than the years diversified, expanded and evolved as a manufacturer of vitrified tiles employed majorly for flooring options. On its Dalal Street debut, Exxaro Tiles had a marketplace capitalization of Rs 563 crore
The IPO of Exxaro Tiles was subscribed 22.65 instances by investors earlier this month, with all pockets of investors oversubscribing their portion of the IPO. The public challenge consisted of Rs 134 crore worth challenge of fresh equity shares and an give for sale (OFS) worth Rs 26.86 crore. Post the IPO, promoter shareholding in the business will come down to 42.5% from 56% pre-IPO. Institutional investors will hold a 28.7% stake in the business even though public shareholding will improve to 28.8% from prior to the IPO.
Exxaro Tiles will join such as Kajaria Ceramics, Somany Ceramics, Asian Granito India, Orient Bell, Prism Johnson, Greenply Industries, HSIL Ltd, Cera Sanitaryware, and Century Plyboards on the stock exchanges.