Upcoming IPO

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

Total Assets (in ₹ millions)7,969.246,861.737,822.57
Total Revenue (in ₹ millions)6,197.576,753.329,112.54
Profit After Tax (in ₹ millions)869.55529.41590.41

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.

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