Exxaro Tiles IPO lists at 5% premium, remains rangebound
The expectations were not too huge as the fall in GMP had hinted at a tepid listing. Exxaro not only had a tepid listing, but also remained in a range through the day. On 16 August, Exxaro Tiles listed at a premium of just 5% and managed to hold above its issue price of Rs.120, through the day. With overall subscription of over 22.65X in the IPO, and retail subscription at over 40.05X, the listing response was relatively muted. Here is the Exxaro Tiles IPO listing story on 16 August.
The IPO price was fixed at the upper end of the band at Rs.120 after the 22.65X subscription. On 16 Aug, the stock of Exxaro Tiles listed on the NSE at a price of Rs.126, a premium of 5% over the issue price. On the BSE also, the stock listed at a price of Rs.126, representing listing premium of 5%.
On the NSE, Exxaro Tiles closed at Rs.132.30, a first day closing premium of 10.25% over the issue price. On the BSE, the stock closed at Rs.132.25, a first day closing premium of 10.21% over the issue price. The stock held on to gains through the day.
On Day-1 of listing, Exxaro Tiles touched a high of Rs.132.30 on the NSE and a low of Rs.126. On Day-1, the Exxaro Tiles stock traded a total of 46.33 lakh shares on NSE amounting to value of Rs.59.74 crore. On the NSE, Exxaro closed at its highest point of the day.
On the BSE, Exxaro Tiles touched a high of Rs.132.30 and a low of Rs.126. On BSE, the stock traded a total of 7.41 lakh shares amounting to value of Rs.9.56 crore. At the close of Day-1, Exxaro Tiles had a market capitalization of Rs.592 crore with free-float market cap of just Rs.154 crore.
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