Rolex Rings initial public offering (IPO) share allotment status is likely be finalised on Wednesday. The public issue received an overwhelming response from the investors when it opened fro subscription last week. Rolex Rings IPO was subscribed a whopping 130.44 times. The automotive components manufacturer plans to raise mobilise Rs 731 crore through its public issue. The public issue comprises a fresh issue of Rs 56 crore and an offer for sale of 75 lakh equity shares by Rivendell PE LLC. It earlier garnered Rs 219.3 crore from anchor investors ahed of the IPO launch. This was the fifth-highest subscription seen by any IPO in 2021. The quota reserved for qualified institutional buyers was subscribed 143.58 times and that of non-institutional investors 360.11 times. The retail portion was subscribed 24.49 times.
Investors can check share in two ways on Wednesday — 1) Via BSE, 2) Via the IPO registrar’s website. Once the Rolex Rings IPO share allotment status is finalised, the refund will be credited to the to ineligible investors on August 5. Eligible investors will get the equity shares in thier demat accounts on August 6. Rolex Rings shares will hit the bourses on August 9.
How to Check Rolex Rings IPO Allotment Status via BSE
1) Go to the official BSE website. Via the URL (https://www.bseindia.com/investors/appli_check.aspx).
2) It will take you to a page called ‘Status of Issue Application’. There you need to select the ‘Equity’ option.
3) Select ‘Rolex Rings Limited’ from the drop-down menu that is besides the issue name.
4) Input your application number and the Permanent Account Number (PAN). Then you just click the ‘I am not a robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check Rolex Rings Allotment Status via the Registrar’s Website (Link Intime India)
1) Go to the Link Intime India website using the URL: (https://www.linkintime.co.in/IPO/public-issues.html)
2) Select the ‘Rolex Rings Limited’ option from the drop-down list under ‘Company’. The name will be populated only if the allotment is finalised
3) You need to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) Fill Captcha and enter ‘Submit’ option
Rolex Rings IPO Grey Market Premium
A strong price in the grey market indicates a stellar debut for Rolex Rings shares on BSE, NSE next week. The unlisted stock of Rolex Ring was trading at Rs 530-540, over the issue price of Rs 880-900 in the grey market, according to reports. Rolex Ring grey market premium was seen commanding a price of Rs 1,440, 60 per cent jump over the higher end of the price band on August 4.
“Rolex Rings with a 144,750 MTPA installed capacity, it has the 5th largest forging capacity in India with 60 customers across 17 locations.The company significantly improved its financial profile with debt-equity ratio improving from 3.23x as at March 31, 2018 to 0.80x as of March 31, 2021.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. All major capex has been done in the past hence no new capex is required. The company is not planning any major capex in till FY25. They would increase revenue by increasing capacity utilization. They are planning to increase forging utilization to 60% and machining capacity to 85%( which would generate incremental capex of Rs 90 crore). Revenue and EBITDA margin was impacted due to unfavourable demand scenario due to Covid 19. In the next five years, till FY25, the company can grow 10-12% YoY," said Ashish Chaturmohta, director research, Sanctum Wealth Management.