Rolex Rings IPO: All you need to know
Rolex Rings Limited is one of India’s top five forging enterprises, will hit the market on Wednesday, July 28, 2021, to raise Rs 731 crores through an Initial Public Offering (IPO) of its units. The company has set the IPO date as well as the price range at which the shares will be offered for sale. Let’s take a peek at the particulars of the Rolex Rings IPO.
Rolex Rings IPO Date & Price Band
| IPO Open: | 28 July 2021 |
| IPO Close: | 30 June 2021 |
| Issue Type: | Book Built Issue IPO |
| Issue Size: | Approx ₹731 Crores |
| Fresh Issue: | Approx ₹56 Crores |
| Offer for Sale: | Approx ₹675 Crores |
| Face Value: | ₹10 Per Equity Share |
| Price Band: | ₹880 – ₹900 Per Equity Share |
| Listing on: | BSE, NSE |
Rolex Rings IPO Market Lot
| Minimum Lot Size: | Minimum 16 Shares |
| Minimum Amount: | ₹14,400 |
| Minimum Lot Size: | Maximum 208 Shares |
| Minimum Amount: | ₹1,87,200 |
Rolex Rings IPO Allotment & Listing
| Basis of Allotment: | 04 Aug 2021 |
| Refunds: | 05 Aug 2021 |
| Credit to Demat Account: | 06 Aug 2021 |
| Listing Date: | 09 Aug 2021 |
Financials of Rolex Rings Limited IPO
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets (in ₹ millions) | 7,969.24 | 6,861.73 | 7,822.57 |
| Total Revenue (in ₹ millions) | 6,197.57 | 6,753.32 | 9,112.54 |
| Profit After Tax (in ₹ millions) | 869.55 | 529.41 | 590.41 |
About Rolex Rings Limited
Rolex Rings Limited is one of India’s top five forging enterprises, having been founded in 2003. The company makes hot rolled forged and machine bearing rings as well as automotive components for a variety of applications, including passenger cars, two-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines, and railways.
Automotive parts, hot forged and machined alloy steel bearing rings weighing from 0.01 kg to 163+ kg are among the product options that appeal to many industries, including automotive, industrial infrastructure, railways, renewable energy, and so on.
Automotive firms and renowned bearing manufacturers like SRF India, Schaeffler India, Timken India, and others use the company’s goods on a domestic and international level. It has exported bearing rings and automobile components to 17 different countries in fiscal 2020, i.e. France, Italy, Germany, Thailand, the Czech Republic, the United States, and others are among them.
The company currently operates three manufacturing sites in Rajkot, each with 22 forging lines and a total installed capacity of 1,44,750 MTPA.
Objective of the Issue:
The company plans to use the funds from the IPO for the following purposes:
- Financing long-term working capital requirements.
- To fulfil general corporate objectives.