With the aid of initial public offerings (or IPOs), companies can change their status from being privately held to becoming publicly held companies. They go about this by providing shares in a new stock issuance. Investors provide them with cash in return for a percentage of ownership in the company obtained in the form of aforementioned shares. The company uses this cash to expand and grow their operations. An upcoming IPO ready to hit the market since being cleared by the Securities and Exchange Board of India (or SEBI) is to be provided by Exxaro Tiles.
About the Company –
Exxaro Tiles falls under Ricacil Ceramic India Pvt. Ltd – a leading name in the ceramic tiles industry offering the most innovative range of tiles. Although it initially set out to be a partnership firm in 2007, it later became a manufacturer of ceramic frits. It has diversified since its inception and is now focused on the manufacturing and marketing of vitrified tiles. Presently, it boasts over 2000 dealers within its network which are situated across 27 states in the country.
Exxaro Tiles has carved a name for itself within the industry as it has managed to secure a weighty presence in the industry owing to its wide range of tiles which redefine both beauty and style. Estimated at around INR 35,000 – INR40,000 as of 2019, the Indian tile industry accounts for 35 percent of its revenue being generated from exports. While China has reigned supreme as the world’s largest producer, consumer and exporter of ceramic tiles over the past few years it has witnessed a decline in its dominance in the global tiles market.
Exxaro Tiles IPO Details –
Look below to know more about the details pertaining to Exxaro Tiles IPO.
Exxaro Tiles IPO Date –
The company has yet to set an opening date for its upcoming IPO, but it is expected to be made available to the public within this year.
Exxaro Tiles IPO Share Price –
The company plans to offer up to 1.34 crore shares, including a fresh issue equivalent to 1.2 crores along with an offer for sale valued for 22.38 lakh shares.
Exxaro Tiles IPO Listing –
The company has yet to release what stock market its shares will be available for purchase on. That being said, it is likely that shares will be available on the Bombay Stock Exchange and / or the National Stock Exchange.
Exxaro Tiles Objectives –
Funds generated from the IPO are set to be allocated toward debt repayment and fund working capital requirements in addition to general corporate purposes.
Exxaro Tile’s IPO offers investors and traders an opportunity to score a profit on the stock market. By opening a Demat account, investors and traders alike can partake in online trading.
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