India’s Exxaro tiles to float IPO for business expansion

  • Indian vitrified and ceramic tiles manufacturer Exxaro Tiles will float its shares through an initial public offering to raise funds for expansion, according to a press statement.
  • Exxaro, which claims to have one of the highest operating profit margins in the organized ceramic segment, would open the offer on 4 August and close on 6 August. The price band for the offer is INR 118-120 ($1.6) per share
  • The initial public offering (IPO) comprises a sale of 13.42 million shares including a fresh issue of 11.86 million shares and another 2.2 million ones sold by the existing owner Dixitkumar Patel.

Source – 

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