Rolex Rings Limited IPO Detail
Incorporated in 2003, Rolex Rings is among the top five forging companies in India. The company manufactures hot rolled forged & machine bearing rings and automotive components that are used across segments i.e. passenger vehicles, 2-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines, railways, etc. A wide range of product offerings such as automotive parts, hot forged and machined alloy steel bearing rings weighing from 0.01 Kg to 163+ kg caters to different industries i.e. automotive, industrial infrastructure, railways, renewable energy, etc.
The company supplies its products on both the domestic as well as international ground to automotive companies and leading bearing manufacturers such as SRF India, Schaeffler India, Timken India, etc. In fiscal 2020, it has exported bearing rings and automotive components to 17 different countries i.e. France, Italy, Germany, Thailand, Czech Republic, USA, and others.
Currently, the firm has 3 manufacturing plants in Rajkot with 22 forging lines with an aggregated installed capacity of 1,44,750 MTPA.
Competitive Strengths
- Among the leading forging companies in India.
- Strong manufacturing capabilities.
- Comprehensive product portfolio.
- Geographically diversified revenue base.
- Strong and consistent financial performance track record.
Company Promoters
Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka, and Bhautik Dayashankar Madeka are the company promoters.IPO Details
| IPO Opening Date | Jul 28, 2021 |
| IPO Closing Date | Jul 30, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹880 - 900 per equity share |
| Market Lot | 16 Shares |
| Min Order Quantity | 16 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹731 Cr |
| Fresh Issue | [.] Eq Shares of ₹10 (aggregating up to ₹56.00 Cr) |
| Offer for Sale | 7,500,000 Eq Shares of ₹10 (aggregating up to ₹675.00 Cr) |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 1.34x | 7.11x | 3.84x |
| Day 2 | 0.23x | - | - | 5.85x | 15.89x | 9.26x |
| Day 3 | 143.58x | - | - | 360.11x | 24.49x | 130.44x |
IPO Tentative Timetable
The Rolex Rings Limited IPO open date is Jul 28, 2021, and the close date is Jul 30, 2021. The issue may list on Aug 09, 2021.
| IPO Open Date | Jul 28, 2021 |
| IPO Close Date | Jul 30, 2021 |
| Basis of Allotment Date | Aug 04, 2021 |
| Initiation of Refunds | Aug 05, 2021 |
| Credit of Shares to Demat Account | Aug 06, 2021 |
| IPO Listing Date | Aug 09, 2021 |
IPO Lot Size
The Rolex Rings Limited IPO market lot size is 16 shares. A retail-individual investor can apply for up to 13 lots (208 shares or ₹187200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 16 | ₹14400 |
| Maximum | 13 | 208 | ₹187200 |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-20 | 6,71.02 | 225.45 | 25.31 |
| 31-Mar-20 | 686.17 | 675.33 | 52.94 |
| 31-Mar-19 | 782.25 | 911.25 | 59.04 |
| 31-Mar-18 | 803.49 | 791.54 | 72.87 |
Objects of the Issue:
- Funding long-term working capital requirements.
- General corporate purposes.
