Exxaro Tiles shares opened for buying and selling at Rs 126.
Exxaro Tiles shares opened for buying and selling at Rs 126, marking a premium of 5 per cent from challenge worth of Rs 120 per share. Exxaro Tiles shares rose as a lot as 10.25 per cent from the problem worth to hit an intraday excessive of Rs 132.30.
Exxaro Tiles shares have been in excessive demand in the course of the three-day shares sale by way of preliminary public providing which ended on August 6. The IPO was subscribed 22.68 occasions whereby the portion reserved for Qualified Institutional Buyers was subscribed 17.67 occasions and portion for Retail Individual Investors was subscribed 40 occasions.
Exxaro Tiles’ Rs 161 crore IPO comprised of contemporary challenge of Rs 134.23 crore and a suggestion on the market of Rs 26.86 crore. The firm bought shares within the worth band of Rs 118-120 per share.
Exxaro Tiles was included in 2008 and is concerned within the advertising and marketing and manufacturing of vitrified tiles. The firm manufactures double cost vitrified tiles (double layer pigment) in addition to glazed vitrified tiles produced from ceramic supplies resembling quartz, clay, and feldspar.
Exxaro Tiles’ product portfolio contains greater than 1000 totally different designs of tiles in six sizes. Galaxy Series, Topaz Series, and High Gloss Series are a few of the well-established merchandise of the agency. The firm additionally provides its merchandise to giant infrastructure tasks resembling instructional, motels, instructional establishments, authorities, hospitals, amongst others.
As of 10:47 am, Exxaro Tiles shares traded 6.54 per cent increased from challenge worth at Rs 127.85, outperforming the Sensex which was buying and selling on a flat notice.
