Exxaro Tiles IPO Subscription Day-1

11th December 2022 - 04:21 am

The Rs.161.09 crore IPO of Exxaro Tiles, consisting of Rs.134.23 crore fresh issue and Rs26.86 crore OFS, has got fully subscribed at the end of Day-1 itself; thanks to a strong response from retail investors. As per the combined bid details put out by the BSE, Exxaro Tiles IPO was subscribed 4.67X overall, with bulk of the demand coming from the retail segment. The issue still has 2 more days to go.

As of close of 04 Aug, out of the 114.51 lakh shares on offer in the IPO, Exxaro Tiles saw applications for 530.66 lakh shares. This implies an overall subscription of 4.63X. The granular break-up of subscriptions was tilted in favour of retail investors but that is natural in most IPOs since QIB and HNI bids come in on the last day.

Exxaro Tiles IPO Subscription Day 1

Category	Subscription Status
Qualified Institutional (QIB)	1.11 Times
Non-Institutional (NII)	0.65 Times
Retail Individual	9.29 Times
Employee	0.74 Times
Total	4.67 Times

QIB Portion

The QIB portion got close to full subscription of its quota at the end of Day-1. On 03 Aug, Exxaro Tiles did an anchor placement worth Rs.26.86 crore. QIB portion, net of anchor allocation, was subscribed 0.95X at the end of Day-1.

HNI Portion

The HNI portion got subscribed 0.65X (getting applications for 30.07 lakh shares against the quota of 46.04 lakh shares). Funded applications and corporate applications, will come in on the last day.

Retail Portion

However, the real big story was the retail portion, which is already subscribed 9.29 times at the end of Day-1, showing strong retail appetite. Among retail investors; out of the 52.62 lakh shares on offer, valid bids were received for 486.11 lakh shares, of which bids for 387.37 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.118-Rs.120) and will close for subscription on Friday, 06 August.