Exxaro Tiles IPO
Exxaro Tiles Limited (EXXARO) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 August 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +11.1% (likely range +10% to +29%), day's high +24.0%, chance of a gain 92%. Actual: +5.0% at the open, +10.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 13,15,550 | 2,32,50,500 | 17.7x | |
| NII (HNI) total | 46,04,425 | 2,46,87,750 | 5.36x | |
| Retail | 52,62,200 | 21,10,36,125 | 40.1x | |
| Employees | 2,68,500 | 6,78,250 | 2.53x | |
| Total | 1,14,50,675 | 25,96,52,625 | 22.7x |
Bids on NSE and BSE together, as published by NSE, as of 06 Aug 2021, 08:00 PM. Shares offered exclude the anchor portion. 65% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Exxaro Tiles's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Likhitha InfrastructureOct 2020 | 22.0x | 1.54x | 23.7x | 9.51x | ₹62.1 Cr | +8.3% | +13.8% |
| Ircon InternationalSep 2018 | 12.3x | 4.92x | 10.1x | 9.90x | ₹806 Cr | -13.3% | -2.1% |
| Stove KraftJan 2021 | 8.02x | 32.7x | 26.0x | 18.0x | ₹413 Cr | +29.4% | +29.4% |
| Security and Intelligence Services (India)Aug 2017 | 5.64x | 1.66x | 19.5x | 7.07x | ₹789 Cr | +8.0% | +8.0% |
| Barbeque-Nation HospitalityMar 2021 | 5.11x | 3.10x | 13.1x | 5.98x | ₹453 Cr | -2.0% | +17.6% |
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Exxaro Tiles IPO price band and lot size? ₹118–120 per share, with a lot of 125 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 22.7x overall: QIB 17.7x, NII 5.36x, retail 40.1x, employees 2.53x.
How did it list? It opened at ₹126, +5.0% against the issue price of ₹120, and closed its first day +10.2%.
