Glenmark Life, Rolex Rings IPOs: Latest GMP, allocation and listing dates

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Glenmark Life, Rolex Rings IPOs: Subscription for Glenmark Life Sciences IPO and Rolex Rings IPO is over and all bidders are anxiously waiting for the share allotment date of these two public issues. Though listing date of these two public issues are around 5-6 days away, grey market has already started to indicate about the kind of listing market is expecting. While Rolex Rings IPO GMP today is ₹530, Glenmark Life Sciences IPO GMP today is ₹90. According to market observers, Rolex Rings IPO grey market premium has been oscillating between ₹525 to ₹550 for the last five days but Glenmark Life Sciences IPO grey market premium has come down below ₹100, which is astonishing.

We list out latest GMP, share allocation date and other details of Glenmark Life Sciences and Rolex Rings IPOs:

However, market observers were happy with the Rolex Rings GMP, which is ₹530 today. Yesterday Rolex Rings IPO grey market premium was ₹550. Market observers said that Rolex Rings IPO GMP has been oscillating around ₹525 to ₹550 that means the public isue is holding its ground on the weekend days. They expected rise in the share price of Rolex Rings in the grey market once the market opens on Monday.

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Rolex Rings IPO: What GMP signaling as all eyes set on share allotment date

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Rolex Rings IPO: After receiving robust 130.44 times subscription against its initial public offer, all eyes are now set on the Rolex Rings IPO allotment date, which is expected to take place on 4th August 2021. However, the grey market has already started signaling strong listing of the public issue as Rolex rings IPO GMP today is ₹550 that means the automotive component maker company has been able to hold its ground in the grey market. Rolex Rings IPO grey market premium on yesterday was ₹555. According to market observers, bidding for the public issue is over and now share price of the company being steady in the grey market indicates that it will have strong listing.

What steady Rolex Rings IPO GMP indicates?

The market observers are of the opinion that Rolex Rings IPO GMP has been rising since its subscription got opened on 28th July 2021. They said that its premium has soared from ₹400 levels to ₹550 levels in the grey market in last one week that simply means strong listing of the public issue on 9th August 2021. They went on to add that in the last four days, Rolex Rings IPO GMP has been oscillating between ₹450 levels to ₹555 mark that means market is expecting listing gains from the public issue somewhere around 50 to 60 per cent.

What Rolex Rings IPO GMP means

On what GMP means for an IPO, market observers maintained that GMP is a short-term indicator about the expected listing gain from the public issue. But, it’s unofficial and it keeps on changing from day to day basis. They said that today Rolex Rings IPO GMP is ₹550 that means market is expecting Rolex Rings IPO listing at around ₹1450 ( ₹900 + ₹550) — around 60 per cent higher from its issue price of ₹880 to ₹900.

Asked about fundamentals in regard to Rolex rings IPO; Abhay Doshi, Founder at UnlistedArena.com said, “At the price of ₹900 the asking PE comes at the multiple of 24 for Rolex Rings IPO. High sentiment in primary markets may emanate in listing gains but for long term it would be worthy to watch for future performance and take any decision.”

On what augurs strong listing of the public issue Abhay Doshi’s views; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance said, “Rolex Rings is one of the leading forging manufacturers with a geographically diversified revenue base and is available at reasonable valuation as compared to its peers.”

Rolex Rings IPO details

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Rolex Rings IPO subscription, allotment and important dates updates: Rolex Rings IPO (Initial Public Offering), which kicked off on Wednesday, July 28, saw massive subscription on the last day of the issue.

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The IPO was subscribed whooping 87.06 times as bids were made for a total of 49,49,99,536 shares as against available 56,85,556 shares for the offer, showed consolidated bid details at National Stock Exchange (NSE). Non-Institutional Investors (NIIs) subscribed the issue maximum 297.83 times by bidding for 36,28,52,480 shares against allotted quota of 12,18,334 shares.Qualified Institutional Buyers (QIBs) subscribed the issue 45.95 times, while Retail Individual Investors (RIIs) applied for IPO 20.23 times.

Earlier, the IPO was subscribed 9.26 times on Thursday as against reserved quota of 56,85,556 shares, bids were received for 5,26,70,832 shares on July 29. Retail Individual Investors (RIIs) led the bidding as RIIs subscribed the issue 15.89 times, followed by Non-Institutional Investors (5.85 times). Qualified Institutional Buyers (QIBs) were yet to subscribed the issue fully.

Rolex Rings IPO important dates

Rolex Rings IPO allotment of shares begin: August 4

Rolex Rings IPO Initiation of refunds: August 5

Rolex Rings IPO allotment date: August 6

Rolex Rings IPO listing date: August 9

*Note these are key tentative dates as per brokerage UPstox.

Investors, who had put their money in the offering of Auto components maker, should know that they can check status of IPO allotment on BSE and through Link Intime India Pvt Ltd, the registrar of the IPO. Direct links for BSE and Link Intime India Pvt Ltd, the registrar for the IPO are bseindia.com/investors/appli_check.aspx and https://linkintime.co.in/MIPO/Ipoallotment.html, respectively.

Rolex Rings IPO allotment status on BSE

Step 1: Visit the link: bseindia.com/investors/appli_check.aspx on BSE official website.

Step 2: In the dropdown menu select ‘Equity’ for issue type

Step 3: Now, select the name of the IPO, which is ‘Rolex Rings Limited’ in this case

Step 4: Here, you will be asked to verify application number & PAN number

Step 5: Hit search button and you are good to go. You can see your IPO allotment on the screen

Rolex Rings IPO allotment on Link Intime step-by-step guide

Step1: Visit Link Intime India Private Limited IPO allotment link: https://linkintime.co.in/MIPO/Ipoallotment.html

Step 2: Again, select IPO Name- ‘Rolex Rings Limited’

Step 3: Here, fill in details such as PAN number, application number or DP ID

Step 4: Now, click on ‘Search’ Button. You can now see your Rolex Rings IPO Allotment on the screen.