Exxaro Tiles IPO GMP: According to market observers, grey market premium of ₹15 is expected to rise once bidding for the public issue gets opened
Exxaro Tiles IPO: ₹161.09 crore public issue is going to open for subscription on 4th August 2021 and it will remain open for bidding till 6th August 2021. The company management has fixed Exxaro Tiles IPO price band at ₹118 to ₹120 and it will get listed at both NSE and BSE. However, before the opening of subscription, Exxaro Tiles IPO has started attracting the grey market as Exxaro Tiles IPO GMP today is ₹15. According to market observers, this grey market premium is expected to rise once bidding for the public issue gets opened.
Here we list out important details in regard to Exxaro Tiles IPO:
- Exxaro Tiles IPO GMP: As mentioned earlier, the Gujarat-based tile manufacturer's GMP today is ₹15, which means market is expecting around 12.50 listing gain in this issue. According to market observers, this listing is expected to go further up as bidding for the issue is yet to open. However, they maintained that ₹15 GMP means market is expecting Exxaro Tiles IPO listing at around ₹135 ( ₹120 + ₹15).
- Exxaro Tiles IPO price band: The promoters of Gujarat-based tile making company has fixed issue price band at ₹118 to ₹120 per equity share.
- Exxaro Tiles IPO fundamentals: However, if we go by the stock market experts, fundamentals of the company are more important than grey market premium. They said that GMP of a public issue is unofficial data while financials are concrete and long-term sentiment.
Abhay Doshi, Founder at UnlistedArena.com said, "Gujarat-based Exxaro Tiles has a stable performance in business. The EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of 18.3 per cent and PAT (Profit After Tax) margins of 5 per cent for FY20 looks in line with peers."
- Exxaro Tiles IPO size: The company management plans to raise ₹161.09 crore from this public issue.
- Exxaro Tiles IPO lot size: A bidder of this public issue will have to apply in lots and one lot of this IPO will comprise 125 shares of the company.