Rolex Rings IPO GMP is available to check here, total of 731 crore IPO is demanded by Rolex Rings. it has successfully received applications worth Rs 91,000 Crore. The Offering will last for a week and during this period, the company will earn many shares. Currently, the IPO costs Rs. 731 crore and is expected to earn more investors. Now that it is a trending Rolex Rings IPO GMP, you must know about it. Thus, we have mentioned the Rolex Rings IPO Grey Market Premium.
Rolex Rings IPO Grey Market Premium
With the price band of Rs. 880 to Rs. 900 per share, the IPO is supposed to close in a week and started today. Out of the Rs. 731 crore, the IPO has fresh Rs. 56 crore and the IPO also has Rs. 75 lakhs equity share by NSR-PE Mauritius LLC. Also, the observers believe that the IPO is at approximately Rs. 440. The company manufactures automotive parts and components and wishes to raise around Rs. 56 crore with the help of the fresh share. Current Rolex Rings GMP is 450 Inr till today.
However, for the Offer For Sale (OFS), the company has Rs. 675 crore. Talking about forging companies, Rolex Rings is one of the best-forging companies in India, as per ICICI Direct. Also, the company has clients like SKF, NEI, Schaeffler, etc. Thus, the company has managed to earn Rs. 219 crore ahead of the IPO through 26 anchor investors.
Rolex Rings IPO GMP Details
So far, retail investors have subscribed to the IPO three times, with 85 lakh shares (28.42 on offer). The Non-institutional investors (NII) have been able to bid around 0.26 times so far on 3.16 lakh shares (12.18 lakh on offer). On the other hand, Qualified Institutional Buyers (QIB) have not bid by far. Overall, on day one, the IPO has been subscribed 1.55 times with 88.26 lakh shares (58.85 on offer). Talking about the Rolex Rings IPO Grey Market Premium had a premium of Rs. 460 per equity share. Previously, the trade was at Rs. 500 per share but has reduced now. With the price band of Rs. 880 to Rs. 900 per equity share, the bidding lot is 16 shares. Thus, the minimum investment has to be 14,400.
In addition to this, you should also know that currently, the promoter shareholding is 41.01% and can rise to 42.36%. 35% of the IPO has been reserved for retail investors and half of the same is for QIBs. While 15% is for the Non-Institutional Investors. With the help of the fresh issue now, the company will spend Rs. 45 crore on working capital requirements. On the other hand, the residual funds will be for corporate purposes. Also, the company may list the IPO on 9th August 2021 and the bidding is active till 30th July 2021.
rolexrings.com IPO GMP Value
|Category||Rolex Rings IPO Grey Market Premium|
|Rolex Rings IPO GMP||Rs 450 Per Share|
|IPO Date||28th July 2021|
|Closing Date||30th July 2021|
|Size||Rs. 731 crore|
|Fresh Issue||Rs. 56 crore|
|Offer For Sale||Rs. 675 crore|
|Face Value||Rs. 10 Per Equity Share|
|Band Price||Rs. 880 to Rs. 900|
|Lot Size||16 Shares|
|QIB||Rs. 365.50 crore|
|NII||Rs. 109.65 crore|
|RI||Rs. 255.85 crore|
Rolex Rings IPO Grey Market Price Today
We would like to start by providing details on the company. It is one of the biggest suppliers of hot rolled forged bearing rings, vehicles, off-highway vehicles, wind turbines, industrial machinery, etc. Thus, you can say that the reach of the company is far. The company also distributes to bearing manufacturing companies and auto OEMs. Now we would like to come to the point if one should buy the offerings.
The company has observed continuous profits for four years and had a profit of Rs. 53 crore in FY 2019-20. In addition to this, the company has worked on EBITDA margins and PAT margins. As per ICICI Direct, the company has a debt of 95%. For this time, the issue is at P/E 28.2x for FY 2021. Also, the top competitors of the company are MM Forgings and Ramkrishna Forgings, which are trading at P/E 37.14 and 123.30 respectively. Thus, it is believed that one should subscribe, but with some caution.
Links For Rolex Rings IPO GMP Allotment Date
Rolex Rings IPO Grey Market Premium GMP FAQs
For the Rolex Rings IPO Grey Market Premium, the company has 16 shares.
The important dates after the closing of Rolex Rings IPO are:
Allotment Date- 4th August 2021
Unblocking ASBA- 5th August 2021
Demat Accounts Credit- 6th August 2021
IPO Listing- 9th August 2021
Rolex Rings has managers like Equirus Capital, JM Financial, and IDBI Capital Markets for the IPO.
4th august, 2021