Nitco Tiles IPO
Nitco Tiles IPO — date, price band, lot size & details 2006
Nitco Tiles listed on 21 Mar 2006 at ₹180, 7.1% above the ₹168 issue price.
Nitco Tiles makes and sells flooring products such as ceramic, vitrified, mosaic and paving tiles, and also imported marble. Its total income was Rs 240.43 crore in FY2005.
Stock price
Nitco Tiles is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 22 Feb 2006
- Close 27 Feb 2006
- Allotment 10 Mar 2006
- Refund/credit TBA
- Listing 21 Mar 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 27 Feb, 2006 |
|---|---|
| Price Band | ₹140 – ₹168 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹168 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,720 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹168 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹6,720 |
| Retail (max) | 29 | 1,160 | ₹1,94,880 |
| S-HNI (min) | 30 | 1,200 | ₹2,01,600 |
| S-HNI (max) | 148 | 5,920 | ₹9,94,560 |
| B-HNI (min) | 149 | 5,960 | ₹10,01,280 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 151.99 crore in FY2003 to Rs 240.43 crore in FY2005.
- 02Profit after tax rose from Rs 5.51 crore in FY2004 to Rs 7.54 crore in FY2005, and was Rs 9.34 crore in six months to September 2005.
- 03Net worth rose from Rs 66.50 crore in FY2004 to Rs 94.12 crore in September 2005.
- 04It had over 35 years of history, since 1966.
Risks · 5
- 01It had placed orders for only 57.53% of its new plant and machinery.
- 02Profit after tax was thin at Rs 7.54 crore on income of Rs 240.43 crore in FY2005.
- 03Tiles face competition from larger brands and imports; profit was Rs 6.01 crore in FY2003.
- 04The Rs 168 crore issue was large next to its net worth of Rs 84.79 crore in FY2005.
- 05Promoter group holding fell from 86.44% before the issue to 47.62% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Nitco Tiles offer document.
| Metric | 30 Sep 2005 | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|---|
| Total Income | 145.30 | 240.43 | 178.00 | 151.99 |
| Profit After Tax | 9.34 | 7.54 | 5.51 | 6.01 |
| NET Worth | 94.12 | 84.79 | 66.50 | 70.78 |
| Reserves and Surplus | 81.85 | 72.51 | 54.23 | 48.76 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Nitco Tiles RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Nitco Tiles IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹6.14 | ₹8.39 |
| P/E Ratio (x) | 27.35 | 20.03 |
| Market Cap at Offer Price (₹ Cr) | ₹255.56 | ₹187.02 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹168 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹175.25 Cr of the issue is earmarked to named objects.
About the company
It offers flooring products across price points, including mosaic, ceramic floor, vitrified and paving tiles and imported marble.
It had placed orders for only 57.53% of the plant and machinery for its expansion at the time of the prospectus.
The IPO was Rs 168 crore and was entirely a fresh issue at Rs 168, the top of the Rs 140 to Rs 168 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Nitco Tiles IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Karvy Investor Services Ltd
31 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: Astral Poly Technik (-10.4%).
Axis Bank Ltd
9 issues handledBest listing: KNR Constructions (+23.5%). Weakest: Innoventive Industries (-4.3%).
HSBC InvestDirect Securities (India) Ltd
24 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Nitco Tiles?
The current Grey Market Premium is ₹0.
What is the Nitco Tiles IPO price band?
₹140 to ₹168, on a face value of ₹10.
When is the allotment?
The basis of allotment is 10 March 2006, with listing on 21 March 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
