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Rolex Rings IPO subscription, allotment and important dates updates: Rolex Rings Initial Public Offering (IPO), which kicked off on Wednesday, July 28 will conclude today, July 30, 2021. Investors who want to put their money in the offering of Auto components maker will have last chance to apply for this IPO. Like, several previous IPOs, Rolex Rings Initial Public Offering also saw massive response from investors as the issue was subscribed withing hours of opening. Rolex Rings IPO was subscribed 3.84 times at the end of the first day.

See Zee Business Live TV Streaming Below:

Rolex Rings IPO subscription Day 2

Keeping the momentum going, the IPO went on to be subscribed for whooping 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 last date: July 30

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.

Rolex Rings IPO other details

The initial public offer (IPO) comprises a fresh issue of up to Rs 56 crore and an offer for the sale of up to 75 lakh equity shares. The offer is in a price range of Rs 880-900 per share. Rolex Rings on Tuesday had garnered a little over Rs 219 crore from anchor investors. At the upper end of the price band, the IPO will fetch Rs 731 crore. Proceeds from the fresh issue would be used towards funding long-term working capital requirements as well as general corporate purposes.

Based in Rajkot, Gujarat, Rolex Rings is among the leading manufacturers of forged and machined components in the country.

Equirus Capital Private Limited, IDBI Capital Markets and Securities Limited, and JM Financial Limited are the managers of the offer.

Where to check Rolex Rings IPO Allotment status

Once Rolex Rings IPO’s subscription is closed, investors can check status of IPO allotment on BSE and through Link Intime India Pvt Ltd, the registrar of the IPO.

BSE direct link: bseindia.com/investors/appli_check.aspx

Link Intime India Pvt Ltd direct link: https://linkintime.co.in/MIPO/Ipoallotment.html

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The Initial Public Offering (IPO) of Rolex Rings Limited is ongoing and there is one last opportunity to subscribe it on Friday, the last day of this issue. While there is one more day left for subscription and it is expected that the RIIs participation will likely go up, the allotment of shares to every investor is unlikely.

Those who have subscribed this issue can check the allotment status after finalisation, maybe on August 5, by doing this:

See Zee Business Live TV Streaming Below:

The investors can check the allotment status either through the BSE direct online link or through Link Intime India Pvt Ltd, who is the registrar for this public issue. The direct link is https://linkintime.co.in/MIPO/Ipoallotment.html

Rolex Rings IPO - Check the allotment status on the website of 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

Steps to check Rolex Rings IPO allotment via Link Intime

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.

Rolex Rings IPO – Complete Timeline

The tentative timeline is as follows and as per the information on Edelweiss App:

• The Rolex Rings IPO ends on 30 July

• The allotment of shares is likely to be completed by 5 August

• Initiation of refunds likely to start from 6 August

• Transfer of shares to demat accounts likely on 9 August

• Listing likely on 10 August.

Rolex Rings IPO: What GMP (grey market premium) signals about the public issue

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Rolex Rings IPO: The Initial Public Offering (IOP) of Rolex Rings got 3.84 times subscribed on the day one of bidding. The public issue will remain open for bidding till 30th July 2021. After the public offer got oversubscribed on day one of bidding, grey market has responded strongly to the Rolex Rings shares. According to market observers, Rolex Rings IPO GMP (grey market premium) today is ₹500, which is ₹50 higher from its grey market premium on Wednesday. Market observers went on to add that ₹500 premium on subscription opening date may attract attentions of potential bidders as GMP is taken as initial indicator in regard to the listing gains from the public issue.

What Rolex Rings IPO GMP mean?

As Rolex Rings IPO price band is ₹880 to ₹900, ₹450 Rolex Rings IPO GMP today means market is expecting around 55 per cent listing gain from this public issue at a time when its subscription is still open for bidders. The market observers said that Rolex Rings IPO grey market premium has been rising for the last four days and it has maintained premium of over ₹400 in the grey market. This rise in GMP of Rolex Rings IPO means the market is expecting Rolex Rings IPO listing at least around ₹1400 ( ₹900 + ₹500). They said it may attract some of the bidders who look at the GMP of a public issue before going into the financials of the company.

Speaking on what fundamentals suggest in regard to Rolex Rings IPO; Saurabh Joshi Research Analyst at Marwadi Shares and Finance said, “Considering the FY-21 adjusted EPS (earnings per share) of ₹31.93 on a post-issue basis, the company is going to list at a P/E ratio of 28.19 with a market cap of ₹24,510 mn, while its peers namely Ramkrishna Forgings and MM Forgings are trading at a P/E ratio of 123.30 and 37.14 respectively.”

On his suggestion to the bidders in regard to Rolex Rings IPO; Saurabh Joshi said, “We assign a Subscribe (With Caution) rating to this IPO as the company is one of the leading forging manufacturers with a geographically diversified revenue base and is available at reasonable valuation as compared to its peers. However, the client concentration risk and CDR debt restructuring in the past, keeps us cautious at the same time from a longer-term perspective.”

Rolex Rings IPO details

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