Rolex Rings IPO share allotment status: Here’s how to check your shares

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The auto component maker expects to receive the benefits of listing the equity shares on the stock exchanges, enhancement of its brand name among existing and potential customers, and the creation of a public market for its equity shares in India. (Image: Rolex Rolled Rings)

Rolex Rings IPO share allotment status: The initial public offering (IPO) of auto-components manufacturer Rolex Rings was subscribed a whopping 130.44 times over the 56.85 lakh shares that were on offer during the subscription period from July 28-30, 2021. The price band was fixed at Rs 880-900 per share.

Rolex Rings IPO received bids of over 74.16 crore (74,16,00,096) shares against the total issue size of over 56.85 lakh (56,85,556) shares, data available with the National Stock Exchange (NSE) showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 143.58 times, while those of non institutional investors was subscribed 360.11 times and that of retail individual investors (RIIs) was subscribed 24.49 times, the data showed.

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The IPO of the Rajkot-based auto-components maker has a size of Rs 731 crore. It comprised a fresh issue of equity shares worth Rs 56 crore and an offer for sale of up to 75 lakh equity stocks by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC).

The proceeds from the fresh issue would be used towards funding long-term working capital requirements as well as general corporate purposes. In addition to this, Rolex Rings expects to receive the benefits of listing the equity shares on the stock exchanges, enhancement of its brand name among existing and potential customers, and the creation of a public market for its equity shares in India.

Investors are now looking forward to the share allotment date of the Rolex Rings IPO. The auto components maker is suppose to finalise the allotment by Wednesday, August 4, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Rolex Rings IPO, then here is how you can check the status of your allotment when it gets declared:

The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Rolex Rings Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.

Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select ROLEX RINGS LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.

The listing of shares of Rolex Rings is likely to take place on Monday, August 9, 2021, on both the NSE and BSE.

Equirus Capital, IDBI Capital Markets & Securities and JM Financial are the book-running lead managers to the offer.

Rolex Rings IPO share allotment: Here’s how to check application status

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Auto-components maker Rolex Rings Limited’s initial public offering (IPO) , that was open for subscription on July 28 and closed on July 30, share allotment is expected to be finalized on August 4. The company’s price band was fixed at ₹880-900 per share. The bidders can check their share allotment status online by logging in at the BSE website here or at the official registrar’s website Link Intime India Private Ltd here .

Rolex Rings grey market premium (GMP) is strong at ₹510 today as all eyes are on the share allotment and listing date. Rolex Rings shares are expected to list on 9August 2021 on the Indian stock exchanges.

Rolex Rings IPO received an overwhelming response across all categories as the issue was subscribed 130.43 times on the final day of the bidding. The offer received bids for over 741.5 million equity shares against the total issue size of 5.69 million equity shares, according to the exchanges showed.

Qualified institutional buyers (QIBs) portion was subscribed 143.58 times, while those of non-institutional investors were subscribed 360.11 times and that of retail individual investors (RIIs) was subscribed 24.48 times.

The IPO comprises a fresh issue of ₹56 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC). Equirus Capital Private Limited, IDBI Capital Markets and Securities Limited, and JM Financial Limited were the managers of the offer.

Rolex Rings, based in Gujarat, is one of the top five forging companies in India in terms of installed capacity and a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components. It supplies bearing rings and automotive components to over 60 customers in 17 countries primarily located in India, USA, and Thailand and European countries.

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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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