Exxaro Tiles IPO subscribed 10.29 times on second day of offer

The portions reserved for Qualified Institutional Buyers QIBs and non-institutional investors have been subscribed 1.65 times and 93 per cent, respectively.The IPO was fully subscribed within hours of opening on Wednesday.


PTI | New Delhi | Updated: 05-08-2021 20:07 IST | Created: 05-08-2021 20:07 IST
Exxaro Tiles IPO subscribed 10.29 times on second day of offer
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Exxaro Tiles' initial public offer was subscribed 10.29 times on Thursday, the second day of subscription.

The Rs 161.08 crore-Initial Public Offer (IPO) received bids for 11,78,80,500 shares against 1,14,50,675 shares on offer, according to an update on the NSE.

Retail investors category has been subscribed 21.10 times. The portions reserved for Qualified Institutional Buyers (QIBs) and non-institutional investors have been subscribed 1.65 times and 93 per cent, respectively.

The IPO was fully subscribed within hours of opening on Wednesday. The offer comprises 1,34,24,000 equity shares. This includes a fresh issue of up to 1,11,86,000 equity shares and an offer for sale of up to 22,38,000 equity shares.

Price range for the offer is Rs 118-120 per share.

Exxaro Tiles, a leading manufacturer of vitrified tiles, has raised Rs 23.68 crore from anchor investors.

Proceeds from the fresh issue would be utilised by the company towards repaying/ prepaying of borrowings, funding its working capital requirements besides general corporate purposes.

Pantomath Capital Advisors Private Limited is the manager to the offer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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