Exxaro Tiles IPO Subscription Day-2

13th December 2022 - 06:45 pm

The Rs.161.09 crore IPO of Exxaro Tiles, consisting of Rs.134.23 crore fresh issue and Rs26.86 crore OFS, had been fully subscribed at the end of Day-1 itself; thanks to strong response from retail investors. As per the combined bid details put out by the BSE at the end of Day-2 of the issue, Exxaro Tiles IPO was subscribed 10.40X overall, with bulk of the demand coming from the retail segment. The issue still has 1 more day to go.

As of close of 05 Aug, out of the 114.51 lakh shares on offer in the IPO, Exxaro Tiles saw applications for 1,178.81 lakh shares. This implies an overall subscription of 10.40X. The granular break-up of subscriptions were tilted in favour of retail investors but QIB and HNI bids typically come in on the last day

Exxaro Tiles IPO Subscription Status

Category	Subscription Status
Qualified Institutional (QIB)	1.66Times
Non-Institutional (NII)	0.97 Times
Retail Individual	21.29 Times
Employee	1.56 Times
Total	10.40 Times

QIB Portion

The QIB portion got more than full subscription of its quota at the end of Day-2. On 03 Aug, Exxaro Tiles did an anchor placement worth Rs.26.86 crore. QIB portion, net of anchor allocation, was subscribed 1.66X (getting applications for 21.66 lakh shares against the available quota of 13.16 lakh shares) at the end of Day-2.

HNI Portion

The HNI portion got subscribed 0.97X (getting applications for 42.80 lakh shares against the quota of 46.04 lakh shares). Funded applications and corporate applications, normally come in on the last day and the picture tends to change quite dramatically by then.

Retail Individuals

The retail portion is already subscribed 21.29X at the end of Day-2, showing strong retail appetite. Out of the 52.62 lakh shares on offer, valid bids were received for 1,110.17 lakh shares, of which bids for 879.27 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.