Exxaro Tiles Ltd. has announced public offering of 13424001 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 110.00 per share. The gross proceeds of the issue are expected to be Rs 16,108.80 lakhs.

The company's initial public offer (IPO) will open on 04 August 2021 and is expected to close on 06 August 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 118.00-120.00 per share.

The IPO includes a fresh Issue of 13424001 Equity Shares of the Company at an price of Rs 120.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 125 shares with bids in multiples of 125.

Exxaro Tiles Ltd. anticipates using the proceeds of the issue for Prepayment/repayment of certain secured borrowings availed by the Company Funding the working capital requirements of the Company General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead manager & Link Intime India Private Limited is the registrar, to the issue.