The initial public offering (IPO) of Exxaro Tiles Ltd., a manufacturer of vitrified tiles, will open on August 4. The price band has been fixed at ₹118 –₹120 per equity share.
The IPO of 1,34,24,000 equity shares of face value of ₹10 each, comprises fresh issue of up to 1,11,86,000 equity shares and an offer for sale of up to 22,38,000 equity shares by Dixitkumar Patel, the selling shareholder.
The company plans to utilise the net proceeds towards repay/prepayment of certain borrowings, funding its working capital requirements besides utilising it for general corporate purposes.
