Latest News | Exxaro Tiles IPO Subscribed 22.68 Times
Get latest articles and stories on Latest News at LatestLY. Exxaro Tiles' initial public offering received 22.68 times subscription at the end of the last day of offer on Friday.
New Delhi, Aug 6 (PTI) Exxaro Tiles' initial public offering received 22.68 times subscription at the end of the last day of offer on Friday.
The Rs 161.08 crore initial public offer (IPO) received bids for 25,96,52,625 shares against 1,14,50,675 shares on offer, as per an update on the exchanges.
The quota for Qualified Institutional Buyers (QIBs) was subscribed 17.67 times, while that for non-institutional investors 5.36 times and retail investors' portion received 40.10 times subscription.
The initial public offer of 1,34,24,000 equity shares had 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.
Exxaro Tiles IPO had a price range of Rs 118-120 per share.
The company's IPO was fully subscribed within hours of opening on Wednesday itself.
Exxaro Tiles, a leading manufacturer of vitrified tiles, has earlier 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 was the book running lead manager to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)