Rolex Rings IPO Review, Dates, Size, Allotment, Subscription, GMP & DRHP
Last Updated Date: Aug 24, 2022Let’s have a detailed review of the company and analytics of the Rolex Rings IPO release date, IPO offer price, subscription, Rolex Rings Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 880 to Rs 900 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 16 Shares |
| Listing Date | Aug 9, 2021 |
| Offer for Sale | Rs 6750 Million |
| Fresh Issue | Rs 560 Million |
| IPO Size | Rs 7310 Million |
| Tick Size | 1 |
Rolex Rings IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Rolex Rings IPO – Summary
They are one of the top five forging companies in India (Source: ICRA Report) and 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.
They supply domestic and internationally to large marquee customers including some of the leading bearing manufacturing companies, tier-I suppliers to global auto companies, and some auto OEMs.
The Promoter of this company is MR. RUPESH DAYASHANKAR MADEKA, JITEN DAYASHANKAR MADEKA, MANESH DAYASHANKAR MADEKA, PINAKIN DAYASHANKAR MADEKA AND BHAUTIK AND DAYASHANKAR MADEKA. The lead manager to the issue is Equirus Capital Private Limited, IDBI Capital Markets & Securities Limited, and JM Financial Limited and the Registrar to this issue is Link Intime India Private Limited.
Rolex Rings IPO Date
The opening and the closing date of the IPO of Rolex Rings Limited are Jul 28, 2021, and Jul 30, 2021, respectively.
Check out Related IPO Links:
| Rolex Rings IPO GMP |
| Allotment of Rolex Rings IPO |
Rolex Rings IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 28 July | 0.00x | 1.34x | 7.11x | 3.84x |
| 2nd Day – 29 July | 0.23x | 5.85x | 15.89x | 9.26x |
| 5th Day – 30 July | 143.58x | 360.11x | 24.48x | 130.43x |
| Shares Offered or Net Issue | 1,624,444 | 1,218,334 | 2,842,778 | 5,685,556 |
The shares subscribed by the public will be updated here.
Rolex Rings IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Rolex Rings Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Aug 4, 2021 |
| Refunds Initiation | Aug 5, 2021 |
| Credit of Shares to Demat Account | Aug 6, 2021 |
| Share Listing Date | Aug 9, 2021 |
Rolex Rings IPO Cash Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.880 to Rs. 900
Rolex Rings IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs.880 to Rs. 900 per equity share aggregating to Rs.7310 Million.
Rolex Rings IPO Share Offering
Net Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.7310 Million
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Rolex Rings IPO – Live Performance
The listing date of this IPO is Aug 9, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Rolex Rings Share Price |
Rolex Rings IPO Grey Market Premium
The Rolex Rings Limited IPO Grey Market Premium price is Rs 450, the Kostak rate is Rs 0 and the Subject to Sauda is Rs 0.
Rolex Rings IPO – Company Overview
They started their manufacturing operations in 1988 with their first manufacturing plant set up in Rajkot. As of the date of this Draft red herring prospectus, they have three manufacturing units in Rajkot.
As of the date of this DRHP, they have 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.
Their product portfolio includes a wide range of bearing rings, parts of the gearbox, and automotive components, among others.
Our customers typically order in large volumes, and we cater to their orders by using our flexible manufacturing infrastructure, skills, and processes to achieve operational efficiency and quality.
Rolex Rings IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 7,969.24 | 6,861.73 | 7,822.57 |
| *Total Revenue | 6,197.57 | 6,753.32 | 9,112.54 |
| Total Expense | 5,445.72 | 6,032.49 | 7,706.94 |
| Profit After Tax | 869.55 | 529.41 | 590.41 |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 36.26 | 22.08 | 24.62 |
Rolex Rings IPO – Promoters
The Promoter of this company is:
- MR.RUPESH DAYASHANKAR MADEKA
- MR. JITEN DAYASHANKAR MADEKA
- MANESH DAYASHANKAR MADEKA
- MR. PINAKIN DAYASHANKAR MADEKA
- MR. BHAUTIK AND DAYASHANKAR MADEKA.
List of Related Parties (Key Managerial Personnel)
- Mr. Manesh Dayashankar Madeka, Chairman and Managing Director
- Mr. Bhautik Dayashankar Madeka, Whole Time Director
- Mihir Rupeshkumar Madeka, Whole Time Director
- Mr. Vivek Sett, Nominee Director
- Mr. Pravinchandra Ratilal Dholakia, Independent Director
Competitive Strengths of Rolex Rings
- Quality Assurance, timely payment, and delivery
- Broad customer base and strong relationships with their customers
- Multiple Business verticals under one roof
- The qualified management team and employee base
Rolex Rings IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 18,24,000 Equity Shares aggregating up to Rs.7310 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 23,981,090 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Rolex Rings IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding long-term working capital requirements
2. General Corporate Purposes
Business strategies of Rolex Rings Limited
- Increasing their share of business amongst existing customers
- Expand their customer base
- Continuing focus on improving operational efficiency
- Further, enhance their manufacturing infrastructure and product portfolio
- Reduce their power costs and reduce their carbon footprint
- Further, improve their financial risk profile
Rolex Rings Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Comprehensive product portfolio
- Manufacturing capabilities that offer scale, flexibility, and locational advantage
- Long-standing customer relationships and geographically diversified revenue base
- Experienced Promoters and management team with strong domain expertise
- Strong financial performance over the past few years
The relevant quantitative factors are:
| Basic EPS | Diluted EPS |
RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 36.26 | 35.96 | 24.38 | 148.76 |
| 31-Mar-20 | 22.08 | 22.08 | 19.75 | – |
| Mar-19 | 24.62 | 24.62 | 27.42 | – |
Rolex Rings IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Million) | |
| Rolex Rings Limited | 10 | [●] | 36.26 | 24.38 | 6,197.57 |
| Listed Peers | |||||
| Bharat Forge Ltd | 2 | NA | (2.71) | NA | 65,051.59 |
| Ramkrishna Forgings Ltd | 10 | 116.39 | 6.44 | 2.3 | 12,945.22 |
| Mm Forgings Ltd | 10 | 38.64 | 19.35 | 9.6 | 7,618.29 |
Rolex Rings IPO Lead Managers
| Lead Managers |
|
Equirus Capital Private Limited IDBI Capital Markets & Securities Limited JM Financial Limited |
Rolex Rings IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C 101, 247 Park, L. B. S. Marg Vikhroli (West), Mumbai 400 083 Tel: +91 22 4918 6200 E-mail: rolex.ipo@linkintime.co.in Investor grievance e-mail: rolex.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Rolex Rings IPO – Other Details
- Statutory Auditor – S R B C & Co LLP
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Rolex Rings IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Rolex Rings Limited IPO News
News 1 – Rolex Rings Limited IPO DRHP Download
News 2 – Rolex Rings Limited IPO RHP Download
Rolex Rings IPO Review FAQs
What is the Issue Size of Rolex Rings IPO?
The Company is making an initial public offer of NA equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Rolex Rings IPO?
The price band for this particular IPO ranges between Rs 880 to Rs 900. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Rolex Rings IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Jul 28, 2021, while the closing date is set at Jul 30, 2021.
What is the Rolex Rings IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Aug 4, 2021, refund initiation is on Aug 5, 2021, credit of shares is on Aug 6, 2021, and share listing date is on Aug 9, 2021.
What is the Rolex Rings IPO Listing Date?
Shares of this company shall be listed in the exchanges on Aug 9, 2021. The date, when the listing would be done, is stagnant on Aug 9, 2021.
Who is the Registrar of Rolex Rings IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Rolex Rings IPO?
Here are the promoters of this IPO – MR. RUPESH DAYASHANKAR MADEKA, JITEN DAYASHANKAR MADEKA, MANESH DAYASHANKAR MADEKA, PINAKIN DAYASHANKAR MADEKA AND BHAUTIK AND DAYASHANKAR MADEKA.. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Rolex Rings IPO?
We have obtained the GMP of this IPO and it is Rs. 450. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Rolex Rings IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Rolex Rings Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Million is 529.41, 2019 is 590.41, 2018 is 728.77. PAT from Sep 2020 is 253.14.
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