As the month of July draws to a close, another mainboard IPO is about to hit the stock market. This time, it is from Rolex Rings Limited. Interested to know more about the Rolex Rings IPO details? Here’s something that can help you out.
- About the company
Headquartered in Rajkot, Gujarat, Rolex Rings Limited was incorporated in 2003. Although late to the industry, the company has quickly grown to become one of the top five forging companies in the country. Its product portfolio consists of bearing rings that are hot rolled, forged, and machined.
The bearing rings that Rolex Rings Limited manufactures are used widely in the automotive industry, industrial machinery, wind turbines, and railways. In addition to supplying within India, the company also exports its products to over 17 different countries including the USA, France, Italy, Germany, and Thailand, among others.
- Rolex Rings IPO details
Let’s now move onto the key details of the upcoming IPO such as the Rolex Rings IPO date and Rolex Rings IPO share price.
- Rolex Rings IPO date
The company’s latest IPO issue would open on July 28, 2021 and come to a close on July 30, 2021.
- Rolex Rings IPO issue size
The Rolex Rings IPO issue features both a fresh issue of shares and an offer for sale from its promoters. The fresh issue component of the upcoming IPO is likely to raise around Rs. 56 crores for the company. Meanwhile, the OFS component is likely to net the promoters around Rs. 675 crores through the sale of around 75,00,000 equity shares.
- Rolex Rings IPO share price
The company has notified the IPO price band as well. It starts from Rs. 880 and goes all the way up to Rs. 900 per equity share.
- Rolex Rings IPO listing
Considering the fact that the latest IPO from Rolex Rings is from the mainboard, the shares of the company would be listed on both the premier stock exchanges of the country - the NSE as well as the BSE.
- Rolex Rings IPO objectives
The company is looking to use the net proceeds from the IPO for the following objectives.
- For long-term working capital requirements
- For meeting general corporate expenses
Conclusion
Did you know that you need a demat account for investing in the stock market? And so, if you wish to invest in this IPO, you will first need to open a demat account. Motilal Oswal can help you accomplish that. Visit our website right now to create one online for free.
Before commencing online trading, always remember to open a demat account and trading account with a trusted and reliable financial partner.
If you already have an existing account, you can start your online trading and invest in the upcoming IPO 2023.
With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the upcoming IPOs by regularly following our IPO calendar.
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