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Rolex Rings Limited IPO Detail

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 DateJul 28, 2021
IPO Closing DateJul 30, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹880 - 900 per equity share
Market Lot16 Shares
Min Order Quantity16 Shares
Listing AtBSE, NSE
Issue Size₹731 Cr
Fresh Issue[.] Eq Shares of ₹10 (aggregating up to ₹56.00 Cr)
Offer for Sale7,500,000 Eq Shares of ₹10 (aggregating up to ₹675.00 Cr)
Retail Portion 35%

IPO Subscription (Bidding Detail)

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 DateJul 28, 2021
IPO Close DateJul 30, 2021
Basis of Allotment DateAug 04, 2021
Initiation of RefundsAug 05, 2021
Credit of Shares to Demat AccountAug 06, 2021
IPO Listing DateAug 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).

ApplicationLotsSharesAmount (Cut-off)

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.