Rolex Rings IPO

Rolex Rings Limited IPO Analysis

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Rolex Rings IPO will open for subscription from 28 July 2021. the company aims for an issue size of ₹731.00 Crore through this IPO.

Also read: IPO List 2021: a complete list of IPOs in 2021

Rolex Rings Limited 

Rolex Rings is a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components for segments of vehicles including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles), industrial machinery, wind turbines, and railways, amongst other segments.

The company is among the top five forging companies in India and is one of the key manufacturers of bearing rings and caters to most of the leading bearing companies in India. During FY2020, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, the USA, and in European countries such as Germany, France, Italy, and the Czech Republic, and Thailand. Rolex Rings has been able to maintain long-standing relations with its customers and 80% of its 10 largest customers for FY2020 have been with the company for over a decade.

The company has three manufacturing units in Rajkot and has 22 forging lines with a combined installed capacity of 1,44,750 MTPA, machining facilities consisting of 508 spindles with a combined installed capacity of 66 million parts per annum, and other machinery including heat treatment furnaces, cold rolling machines, and other infrastructure.

Objects of the Issue

  • Funding long-term working capital requirements.
  • General corporate purposes.

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.

Basic details about the company

Full nameRolex Rings Limited
SectorAutomobile and Ancillaries

Dates to remember

IPO Open28 July 2021
IPO Close30 July 2021
Basis of Allotment04 August 2021
Refunds date05 August 2021
Credit to Demat Account06 August 2021
 Listing Date09 August 2021

IPO details

Issue typeBook Building
IPO issue size₹731.00 Cr
Fresh Issue₹56.00 Cr
Offer for sale₹675.00 Cr
Face value₹10 per equity share
Price band₹880 to ₹900 per equity share
Retail Allocation35%
Lot size16 Shares
Minimum application1Lot-16 Shares
Maximum application13 Lots-208 Shares
Minimum application amount₹14,400
Maximum application amount₹187,200
Listing ExchangeBSE & NSE

Company Financials

ParticularsFor the year/period ended (₹ in million)
Total Assets6,710.266,861.737,822.578,034.97
Total Revenue2,254.596,753.329,112.547,915.43
Profit After Tax253.14529.41590.41728.77

Valuation of Rolex Rings (as of FY2020)

Earnings Per Share (EPS)₹22.08
Price/Earnings (PE ratio)39.85 – 40.76
Return on Net Worth (RONW)19.75%
Net Asset Value (NAV)₹111.80 per share

Company Promoters

  • Rupesh Dayashankar Madeka
  • Jiten Dayashankar Madeka
  • Manesh Dayashankar Madeka
  • Pinakin Dayashankar Madeka
  • Bhautik Dayashankar Madeka

Lead Managers

  • Equirus Capital Private Limited
  • IDBI Capital Market Services Limited
  • JM Financial Consultants Private Limited

Rolex Rings IPO Allotment Status

Rolex Rings IPO allotment will be available on Link Intime’s website.

Click on this link to get the allotment status. 

Rolex Rings IPO Registrar

Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270

Company Contact Information

Rolex Rings Limited
B/h. Glowtech Steel Private Limited
Gondal Road, Kotharia, Rajkot, 360 004
Phone: 0281 6699677/577

Final thoughts

Rolex Rings IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make a wise decision.

Happy Investing

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