Exxaro Tiles Ltd.'s Rs 161-crore initial public offering was subscribed 22.6 times on the final day.
The vitrified tilemaker's issue was subscribed 4.7 and 10.3 times on day 1 and day 2, respectively.
Besides Exxaro Tiles, Krsnaa Diagnostics Ltd., Devyani International Ltd. and Windlas Biotech Ltd. launched their maiden offers on Aug. 4. The IPOs closed on Aug. 6.
The tilemaker was selling 1.3 crore shares at Rs 118-120 apiece, seeking a market of Rs 537 crore at the upper end of the price band. The three-day IPO, according to the company’s red herring prospectus, comprised a fresh issue of Rs 134.2 crore and a Rs 26.9-crore offer for sale by non-promoter selling shareholder, Dixitkumar Patel.
The company plans to use proceeds from the fresh issue to pay long-term debt of up to Rs 50 crore and augment working capital requirements of up to Rs 45 crore.
Exxaro Tiles has raised Rs 23.7 crore by allocating 19.7 lakh shares to three anchor investors before the IPO.
Also Read: Exxaro Tiles IPO: All You Need To Know
Subscription Details: Day 3
The IPO was subscribed 22.68 times as of 8 p.m. on Aug. 6.
Institutional investors: 17.67 times.
Non-institutional investors: 5.36 times.
Retail investors: 40.10 times.
Employees: 2.53 times.
Watch BloombergQuint's IPO Adda with Exxaro Tiles:
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