The Subscription for the much-awaited Initial Public Offering (IPO) of the famous Auto-parts manufacture, Rolex Rings Limited is about to open on 28th July 2021, that is, on Wednesday and will be settled on 30th July 2021. As per the initial reports, the companies grey market premium (GMP) is somewhat around Rs. 420. For those who do not know, the grey market is an unauthorized platform that allows trading after the release of the IPO price band prior to its listing in the stock exchange. Many investors have their eyes on this particular IPO and are as much curious to know more about the same in a detailed manner.
Rolex Rings IPO Share Allotment Status
Rolex Rings Limited is one of the top five auto-parts manufacturing companies in India and was incorporated in the year 2003, that is, 18 years ago. The company holds expertise in manufacturing hot rolled produced as well as machine bearing rings and automotive parts that are utilised in numerous segments, including in electric, commercial, passenger, off-highway vehicles, 2-wheelers, railways, manufacturing machinery, wind turbine and others.
The company carter their service to multiple sectors including industrial infrastructure, automotive, renewal energy and much more. Moreover, their operations and supplies are not only limited to the Indian automobile industry but also at the global level including Germany, Thailand, Czech Republic, USA, France, Italy and others. Some of their major clients are Timken India, Schaeffler India and SRF India etc. They have three manufacturing plants in Rajkot and 22 production lines that have an overall installed capacity of 1,44,750 MTPA.
Company’s Financials (FY 21)
For the year ended 31st Match 2021 (FY 2021), the company’s net profit was recorded to be Rs. 86.95 crore followed by revenue of Rs. 619.75 Crore and total assets of Rs. 796.92 crore.
- Total Assets: Rs. 796.92 crore
- Total Revenue: Rs. 619.75 Crore
- EAT (Earings After Tax): Rs. 86.95 crore
From FY 21 to FY 20, there has been a decline in the total Revenue from Rs. 675.33 crore to Rs. 619.75 crore. However, the earning after Tax (EAT) has been increased from Rs. 52.94 crore to Rs. 86.95 crore.
Rolex Rings IPO Details
- Opening Date: 28th July 2021
- Closing Date: 30th July 2021
- Face Value (FV): Rs. 10/equity share
- Price (Fixed): Rs. 880 to Rs. 900/ equity share
- Size of Lot: 16 shares
- Min Order Qty: 16 shares
- Listed: NSE, BSE
- Listing Date (Expected): 9th August 2021
- Issue Type: Book Built Issue
- Issue Size: 100% Book Building
- Fresh Issue: Rs.56 Cr (@Rs.10 per share)
- Offer for Sale (OFS) : 750 crore Eq Shares @ Rs. 10
- Max. Subscription Amt for Retail Investors: Rs. 2.0 Lakh
The size of the fresh issue is reported to be 100% Book building, consisting of a fresh issue of Rs.56 Crore, the face value of which is Rs. 10 per equity share, while the price is fixed between the range from Rs. 880 to Rs. 900. The IPO subscription is starting from 28th July 2021 and will close on 30th July 2021. Moreover, the shares will be listed in the BSE and NSE most probably on 9th August 2021. For the Retail Investors, the company has set the maximum Subscription amount up to Rs. 2 lakhs. The company has an offer for sale (OFS) of 750 equity shares at the price of Rs. 10 each.
The proceeds from this fresh issue shall be used by the company towards funding their long-term Working Capital needs and also to fulfil their general corporate objectives. Equirus Capital Private Limited, JM Financial Limited, ID BI Capital Markets & Securities Limited are the major booking running Lead managers while ICICI Bank Limited is the sponsor Bank for this IPO. The IPO is registered on the ROC of Link Intime Private Limited. Kindly note, the IPO market timings are from 10:00 AM to 5:00 PM.
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