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Rolex Rings IPO: Share Price, GMP, Allotment Date, Listing Date And Other Key Details

Rolex Rings will open its IPO on 28 July and will offer up to 75 lakh shares. The automotive components manufacturer looks to raise around Rs 731 crore.

Rolex Rings

IMAGE: PTI


A leading manufacturer of forged and machined components in India, Rolex Rings is now set to open its initial public offering (IPO). The Rolex Rings IPO will hit the market on 28 July. Rolex Rings public issue will comprise a fresh issue of shares aggregating up to Rs 56 crore and an offer for sale of up to 75 lakh shares. The IPO will close the bidding on 30 July.

Rolex Rings Share Price

The price band of the Rolex Rings IPO has been set for the issue at Rs 880-900 range. The company with the IPO will look to accumulate Rs 716 crore at the lower price band, and Rs 731 crore at the higher end, with the implied post-issue market capital at Rs 2,451 crore. Investors will be allowed to bid for a minimum of 16 equity shares and in multiples of 16 after. The minimum investment will be around Rs 14,400, while the maximum would stand at Rs 1,87,200 for 13 lots. However, retail investors will not be allowed to invest beyond Rs 2 lakh on the IPO. According to market observers, Rolex Rings GMP is strong at around ₹530.

Rolex Rings IPO allotment status and dates

A total of 50 per cent of the public offer is reserved for qualified institutional buyers (QIBs), while retails investors are being offered 35 per cent. Around 14 per cent will be up for the non-institutional investors. The IPO will close on Friday, July 30, and the processing of the allotment will likely happen on August 4. Refunds will be initiated a day after the allotment. The shares will most likely be handed to investors by August 6 and the listing will be done on August 9.

A bit about Rolex Rings

Incorporated in 2003, Rolex is among the top five forging companies in India. The company manufactures and is a global supplier of hot rolled forged and machined bearing rings and offers automotive components. The company based in Gujarat provides components for two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, and electric vehicles.

The company also offers products other than automotive parts like industrial machinery, wind turbines, and railways.
The company which supplies its products on both the domestic as well as international markets to the leading companies plans to reduce their carbon footprint through investment in renewable energy in the near future.

IMAGE: PTI

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