scorecardRolex Rings IPO opens today with a price band of ₹880-900
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Rolex Rings IPO opens today with a price band of ₹880-900

Rolex Rings IPO opens today with a price band of ₹880-900
Stock Market2 min read
  • Rolex Rings IPO opens Wednesday and closes on July 30, Friday.
  • The company is looking to raise ₹731 crore through the public listing with a price band of ₹880-900.
  • The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot.
With several initial public offering (IPO) announcements coming almost every day, there are two ongoing IPOs this week, one of automotive components manufacturer Rolex Rings that opens Wednesday and Glenmark Pharmaceuticals’ subsidiary Glenmark Life Sciences, which started on July 27 and ends on July 29.

Rolex Rings IPO opens on July 28 and closes on July 30 with a price band of ₹880-900.

The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot.

The offer comprises a fresh issue of ₹56 crore and an offer for sale by private equity firm Rivendell PE of up to 75 lakh equity shares.

The company will utilise the net proceeds of the IPO towards funding long-term working capital requirements and for general corporate purposes.

Here are the important details to note:
Issue details


Price band

₹880 to ₹900

IPO open date

July 28

IPO close date

July 30

Allotment date

August 4

Initiation of refunds

August 5

Credit of shares to demat account

August 6

IPO listing date

August 9

Minimum lot

16


In FY20, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, US and in European countries such as Germany, France, Italy, and Czech Republic, and Thailand.

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