July 27, 2021 03:40 PM
Rolex Rings Limited IPO (Rolex Rings IPO) Detail
Rolex Rings Incorporated in 2003, Rolex Rings is among the top five forging companies in India. The company manufactures hot rolled forged & machine bearing rings and automotive components that are used across segments i.e. passenger vehicles, 2-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines, railways, etc. A wide range of product offerings such as automotive parts, hot forged and machined alloy steel bearing rings weighing from 0.01 Kg to 163+ kg caters to different industries i.e. automotive, industrial infrastructure, railways, renewable energy, etc.
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. In fiscal 2020, it has exported bearing rings and automotive components to 17 different countries i.e. France, Italy, Germany, Thailand, Czech Republic, USA, and others.
Currently, the firm has 3 manufacturing plants in Rajkot with 22 forging lines with an aggregated installed capacity of 1,44,750 MTPA.
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.
Company Promoters:
Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka, and Bhautik Dayashankar Madeka are the company promoters.
Company Financials:
| Summary of financial Information (Restated Consolidated) | |||||
| Particulars | For the year/period ended (₹ in million) | ||||
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 7,969.24 | 6,861.73 | 7,822.57 | ||
| Total Revenue | 6,197.57 | 6,753.32 | 9,112.54 | ||
| Profit After Tax | 869.55 | 529.41 | 590.41 | ||
Objects of the Issue:
- Funding long-term working capital requirements.
- General corporate purposes.
Rolex Rings IPO Details
| IPO Opening Date | Jul 28, 2021 |
| IPO Closing Date | Jul 30, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹880 to ₹900 per equity share |
| Market Lot | 16 Shares |
| Min Order Quantity | 16 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹10 (aggregating up to ₹731.00 Cr) |
| Fresh Issue | [.] Eq Shares of ₹10 (aggregating up to ₹56.00 Cr) |
| Offer for Sale | 7,500,000 Eq Shares of ₹10 (aggregating up to ₹675.00 Cr) |
Rolex Rings IPO Tentative Timetable
The Rolex Rings IPO open date is Jul 28, 2021, and the close date is Jul 30, 2021. The issue may list on Aug 9, 2021.
| IPO Open Date | Jul 28, 2021 |
| IPO Close Date | Jul 30, 2021 |
| Basis of Allotment Date | Aug 4, 2021 |
| Initiation of Refunds | Aug 5, 2021 |
| Credit of Shares to Demat Account | Aug 6, 2021 |
| IPO Listing Date | Aug 9, 2021 |
Rolex Rings IPO Lot Size
The Rolex Rings IPO market lot size is 16 shares. A retail-individual investor can apply for up to 13 lots (208 shares or ₹187,200).
| Application | Lots | Shares | Amount (Cut-off) |
| Minimum | 1 | 16 | ₹14,400 |
| Maximum | 13 | 208 | ₹187,200 |
Rolex Rings IPO Promoter Holding
| Pre Issue Share Holding | 58.99% |
| Post Issue Share Holding | 57.64% |
