Rolex Rings IPO: After food delivery company Zomato and Glenmark Life Sciences, now the IPO of Rolex Rings will open for subscription today. In this, you 30 can subscribe until July 29. The time to subscribe would end at this date. Rolex Rings is involved in the manufacturing of Automotive Components. This company is located in Rajkot, Gujarat. This will be the 29th IPO to be launched in the market this year.
Rolex Rings will try to raise Rs. 7.31 Billion through this IPO. The price band of its one share has been fixed at Rs. 880 to Rs. 900. There will be a fresh share issue of Rs. 560 Million in this. In addition, 7.5 million equity stock shares will be sold by Rivendell PE LLC under the 'offer for sale' category. In this IPO, a single lot would contain 16 shares. According to the company, the funds from these new shares will be used to meet the long-term requirement of working capital and corporate objectives.
Rolex Rings has three plants in Gujarat
Rolex Rings Company is located in Rajkot, Gujarat. It has three manufacturing plants here. The company manufactures parts for various industries in the automotive sector such as two-wheelers, passenger vehicles, commercial vehicles, off highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. Rolex Kings also exports automotive components to a number of countries across the globe.
Rolex Rings has appointed Equirus Capital Private Limited, IDBI Capital Markets & Securities Limited and JM Financial Limited Book Running as its Lead Managers for this IPO.