INSUBCONTINENT EXCLUSIVE:
Rolex Rings' Rs 731 crore IPO consisted of fresh issue of Rs 56 crore and an OFS of up to Rs 675 crore.Rolex Rings shares were in very high
demand during the three-day share sale via initial public offer (IPO) which ended today
Rolex Rings IPO, the 28th IPO to hit capital markets this year, was subscribed 130.44 times by the end of the final day of the bidding
process, data from stock exchanges showed
Rolex Rings received 74.16 crore bids for a little over 56.85 lakh shares on the offer
A total of 5.47 crore bids were received at the cut-off price
Rolex Rings IPO received stupendous response from non-institutional investors as the portion reserved for them was subscribed 294.18
times.Qualified institutional buyers (QIBs) also showed strong interest for Rolex Rings shares in the IPO as the portion reserved for them
was subscribed 45.92 times
Among the QIBs, foreign institutional investors (FIIs) made 3.35 crore bids and domestic financial institutions (Banks, financial
institutions (FIs) and insurance companies) made 1.26 crore bids, according to NSE data.Portion for retail investors was subscribed 11.74
times.Rolex Rings' Rs 731 crore IPO consisted of fresh issue of Rs 56 crore and an offer for sale of up to Rs 675 crore
The company sold shares in the price band of Rs 880-900 per share and retail investors were allowed to buy shares in minimum 1 lot of 16
shares up to maximum of 13 lots
At the upper end of the price band one lot of Rolex Rings IPO was priced at Rs 14,400.Ahead of the IPO, Rolex Rings raised Rs 219 crore from
anchor investors, including ICICI Prudential MF, Axis MF, HDFC Mutual Fund, Aditya Birla Sun Life MF, SBI MF, Kotak MF, L-T MF and HDFC Life
Insurance Company, at a price of Rs 900 per share.Rolex Rings, based at Rajkot in Gujarat, is among top five forging companies in India
It is a manufacturer and global supplier of hot rolled forged and machined bearing rings and offers components for two-wheelers, passenger
vehicles, commercial vehicles, off-highway vehicles and electric vehicles.
