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 name | Rolex Rings Limited |
| Sector | Automobile and Ancillaries |
| Industry | Bearings |
| Company Website | www.rolexrings.com |
Dates to remember
| IPO Open | 28 July 2021 |
| IPO Close | 30 July 2021 |
| Basis of Allotment | 04 August 2021 |
| Refunds date | 05 August 2021 |
| Credit to Demat Account | 06 August 2021 |
| Listing Date | 09 August 2021 |
IPO details
| Issue type | Book 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 Allocation | 35% |
| Lot size | 16 Shares |
| Minimum application | 1Lot-16 Shares |
| Maximum application | 13 Lots-208 Shares |
| Minimum application amount | ₹14,400 |
| Maximum application amount | ₹187,200 |
| Listing Exchange | BSE & NSE |
Company Financials
| Particulars | For the year/period ended (₹ in million) | |||
|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 6,710.26 | 6,861.73 | 7,822.57 | 8,034.97 |
| Total Revenue | 2,254.59 | 6,753.32 | 9,112.54 | 7,915.43 |
| Profit After Tax | 253.14 | 529.41 | 590.41 | 728.77 |
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
Email: rolex.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
Rolex Rings Limited
B/h. Glowtech Steel Private Limited
Gondal Road, Kotharia, Rajkot, 360 004
Phone: 0281 6699677/577
Email: compliance@rolexrings.com
Website: http://www.rolexrings.com/
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