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<ul><li><keyword id="10967369" type="UNKNOWN" weightage="20" keywordseo="Rolex-Rings-IPO">Rolex Rings IPO</keyword> opened on July 28 and Friday, July 30 is the last day of its initial public offering (IPO) subscription.</li><li>So far, in the last two days of issue, it has received good response from retail investors and very tepid response from qualified institutional buyers (QIB).</li><li>The company looks to raise ₹731 crore with a price band of ₹880-900.</li></ul>If you are looking to invest in the initial public offering (IPO) of Rolex Rings, then go ahead as today (July 30) is the last day of the issue. The IPO application is live from 10 a.m. to 5 p.m. So far, in the first two days of subscription, the IPO has received good response from retail investors. However, it saw a tepid response from qualified institutional buyers (QIB). The portion reserved for retail investors was subscribed 14.09 times the issue size on the second day of the issue i.e., July 29 as of 4 p.m. Overall, the issue was subscribed 8.16 times on the second day. The IPO has received bids for 4.6 crore equity shares against the IPO size of 56.85 lakh equity shares. The IPO for Rolex Rings opened Wednesday, July 28 and will close on July 30 with a price band of ₹880-900. Further, most analysts have recommended subscribing to the IPO on good outlook for the automotive industry. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking house </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ventura </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> “We observe that the company’s financial metrics as well as valuations are broadly in line with that of other players. The historical growth is lagging others, which is compensated by the company’s higher return ratios. Considering these metrics, we recommend subscribing to the issue from a long term perspective, “ said a report by Nirmal bang Securities. Analysts at Ventura Securities see an upside of 31% from the offer price of ₹900 over a period of 18-24 months. “Our target price of ₹1,177 (15 times FY24 earnings) represents a potential upside of 31% from the offer price of ₹900 over a period of 18-24 months. Better than expected recovery in the global economy, a rebound of the domestic automotive industry and the management’s guidance on higher capacity utilisation in the coming years bolster our confidence in improving revenue growth and profitability,” added the report. On the other hand, analysts at Angel Broking said that while valuations of the company are capturing all positives, promoter picking up 25 lakh shares in the company at ₹10 per share before the IPO is a concern. The company recently issued shares over 25 lakh to promoters at Rs 10 each on July 16 through optionally convertible redeemable preference shares (OCRPS), while it has set a price band of Rs 880-900 per share. “This way promoters received 7.29% stake in the company for ₹2.3 crore weeks ahead of the IPO,” said a <a href="https://www.bloombergquint.com/ipos/rolex-rings-sets-ipo-price-at-rs-880-900-it-issued-shares-to-promoters-at-rs-10">report</a>. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

Today is the last day of Rolex Rings’ ₹731 crore IPO with a price band of ₹880-900

<ul><li>The grey market premium on <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword>' shares had fallen from near ₹1,450 before the IPO to a little over ₹1,300 a share now. </li><li>The stock will list on BSE and NSE tomorrow (August 9).</li><li>The auto components maker, which is currently under a debt restructuring programme, got tremendous response for its IPO from retail and institutional investors. </li><li>Check out the latest news and updates only on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>The shares of Rolex Rings will list on the stock exchanges, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 9 after ₹731 crore initial public offering (IPO). Here is how you can check <keyword id="11815911" type="UNKNOWN" weightage="20" keywordseo="rolex-rings-ipo-allotment">Rolex Rings IPO allotment</keyword> status : <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Rolex Rings‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Glenmark Life Sciences ’. </li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Rolex Rings makes components that go into automobiles. The company is under a corporate debt restructuring (CDR) cell as it was unable to pay its debt on time to banks and financial institutions. You can read the details of the company's financial health <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-to-help-company-for-payment-of-loan-and-interest/articleshow/84818263.cms" data-type="tilCustomLink" target="_blank">here</a>. However, institutional investors subscribed for 143.5 times the number of shares allotted for the category during the IPO. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 451.276pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription (compared to shares offered) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Institutional </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">143.5 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">360.11 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.49 times </td></tr></tbody><tbody></tbody></table> The grey market premium (GMP) on Rolex Rings' shares had reduced to a little over ₹1,300 a share compared to the near ₹1,450, which was the prevailing price before the IPO, according to reports. Grey market premium, typically, affects the price at which the shares are likely to list. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cartrade-raises-rs-900-crore-from-anchor-investors-ahead-of-its-ipo-issue-opens-on-monday/articleshow/85123261.cms">CarTrade raises Rs 900 crore from anchor investors ahead of its IPO, issue opens on Monday</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms" data-type="tilCustomLink" target="_blank">Don’t subscribe to an IPO just because it saw great interest from institutional investors ⁠— Indigo Paints, Mrs Bectors Food, and Ujjivan are examples to look at</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/what-if-vodafone-idea-dies/articleshow/85127937.cms">What if Vodafone Idea dies?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/neeraj-chopra-the-spearman-of-india/slidelist/85130069.cms">Neeraj Chopra — the ‘SpearMan’ of India</a>

Check if Rolex Rings shares have been allotted to your account

<ul><li>Rolex Rings, a manufacturer and global supplier of hot rolled, forged and machined bearing rings, and automotive components for segments of vehicles is coming with initial public offering (IPO).</li><li>The company is looking to raise ₹731 crore through public listing from July 28 to July 30.</li><li>It has set a price band of ₹880-900 for the issue.</li></ul>The next initial public offering (IPO) all set to hit the Indian bourses in July is of Rolex Rings, which is looking to raise ₹731 crore through the public listing. The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot. The bidding will start on July 28 and close on July 30 with a price band of ₹880 to ₹900 per share. The offer comprises a fresh issue of ₹56 crore and an offer for sale by private equity firm Rivendell PE of up to 75 lakh equity shares. Here are the important details to note: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹880 to ₹900 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 28 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 30 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 4 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 5 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 6 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 9 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr></tbody></table>Source: Company release and media reports The company will utilise the net proceeds of the IPO towards funding long-term working capital requirements and for general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹86 crore </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹52 crore </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹59 crore </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹619 crore </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹675 crore </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹911 crore </td></tr></tbody></table>Source: Red Herring Prospectus In FY20, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, US and in European countries such as Germany, France, Italy, and Czech Republic, and Thailand. SEE ALSO: <a href="https://www.businessinsider.in/business/news/byjus-is-willing-to-shell-out-10x-of-what-great-learning-earned-during-the-best-year-for-edtech/articleshow/84754613.cms">BYJU's is willing to shell out 10X of what Great Learning earned during the best year for edtech </a> <a href="https://www.businessinsider.in/stock-market/news/subscribe-to-glenmark-life-sciences-ipo-because-of-clean-regulatory-history-and-good-track-record-as-per-analysts/articleshow/84748115.cms">One may subscribe to Glenmark Life Sciences IPO because of clean regulatory history, strong promoter backing and good track record, say analysts </a>

Another IPO in July: Rolex Rings to raise ₹731 crore through public listing

<ul><li>Automotive components manufacturer <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword> gets subscribed 9.26 times on July 29, the second day of the issue.</li><li>The portion reserved for retail investors saw good response on the second day as well as it was subscribed 15.89 times the issue size.</li><li>The company is looking to raise ₹731 crore with a price band of ₹880-900 per share.</li></ul>The public issue of Rolex Rings continued receiving good response from retail investors on the second day of the initial public offering (IPO) bidding process. The portion reserved for retail investors saw good response as it was subscribed 15.89 times the issue size. Overall, the issue was subscribed 9.26 times on the first day. The IPO has received bids for 5.2 crore equity shares against the IPO size of 56.85 lakh equity shares. On the institutional side, shares reserved for qualified institutional buyers (QIB) continued to have tepid response as only 3.70 lakh shares received bids against 16.24 lakh shares. The IPO for Rolex Rings opened Wednesday, July 28 and will close on July 30 with a price band of ₹880-900. Here are the important details to note: <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹880 to ₹900 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 28 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 30 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 4 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 5 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 6 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 9 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr></tbody></table> The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot. The offer comprises a fresh issue of ₹56 crore and an offer for sale by private equity firm Rivendell PE of up to 75 lakh equity shares. The company will utilise the net proceeds of the IPO towards funding long-term working capital requirements and for general corporate purposes. SEE ALSO: <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for </a> <a href="https://www.businessinsider.in/stock-market/news/list-of-stocks-are-down-today-like-zomato-dixon-technologies-cdsl-happiest-minds-shree-renuka-sugars-and-more/slidelist/84817104.cms">It's not just Zomato — From Happiest Minds to CDSL, some of India's hottest stocks are melting too </a>

Rolex Rings IPO gets subscribed 9.26 times on the second day of bidding

<ul><li>Rolex Rings is looking to raise ₹731 crore through public listing.</li><li>The Rajkot-based company is a manufacturer and global supplier of forged and machined components.</li><li>The company’s IPO opens on July 28 and closes on July 30.</li><li>The IPO will see its biggest shareholder Rivendell PE selling 28% stake in the company out of 41% current shareholding.</li></ul>Automotive components manufacturer Rolex Rings’ initial public offering (IPO) has opened and the company is looking to raise ₹731 crore through the public listing, of which only ₹56 crore is fresh issue. While analysing the Rolex Rings’ financials, it is evident that the company is under a corporate debt restructuring (CDR) cell as it was unable to pay its debt on time to banks and financial institutions. The company had approached the corporate debt restructuring (CDR) cell for restructuring debt in the financial year 2013. CDR is a scheme evolved by the RBI wherein it reduces the burden of debts on the company by decreasing the rates paid and increasing the duration of the debt. The company had a restructured term debt of ₹4,87 crore. As on March 31, 2021, the percentage of the restructured term debt still due is 6.89% amounting to ₹33 crore. “In the first quarter of FY22, the company has paid about ₹10.5 crore and the remaining will be paid in the next couple of quarters. Before March 2022, we should be out of CDR,” said Doshi. Despite investments coming in, the company has made certain delayed repayment of loans and interest in FY18 and FY19 to financial institutions and banks to the extent of ₹103 crore and ₹37 crore respectively. “We had certain defaults or rather not defaults, but delays from long term obligations, for example it is due on January 1 and we paid on January 3 or something like that. This is mainly because of working capital squeeze. Our revenue has gone up significantly, but our working capital limits by the lender and has not been increased because many of our lenders are under prompt corrective action (PCA) so that is why we had a bit delay,” said Hiren Doshi, chief financial officer (CFO) of Rolex Rings in an interview with Business Insider. Under the PCA regime by the Reserve Bank of India (RBI), business restraints are imposed on struggling banks. Under PCA, banks are asked to reduce loan concentration to individual, group, sector, and company which means they cannot lend more loans to particular sections. “We cannot assure you that we will be able to make future payment of interest and repayment of borrowings in a timely manner or at all and that the relevant lenders will not impose, among others, default interest, penalties or termination of the facilities,” the company said in its red herring prospectus (RHP). From November 2018 onwards, the company did not have any single delays and even paid six months’ dues in advance before covid, Doshi added. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹86 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹52 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹59 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹619 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹675 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹911 crore </td></tr></tbody></table>Source: Red Herring Prospectus Further, the company will utilise the net proceeds of the IPO towards funding long-term working capital requirements and for general corporate purposes. This way the company will have enough funds for working capital requirements which will probably lower down the chances for any further delays. While the automotive components manufacturer is looking to raise ₹731 crore through the public listing, only ₹56 crore is fresh issue. The company’s biggest shareholder Rivendell PE, which currently holds 41% stake or 1.09 crore shares, will sell 28% or 75 lakh shares through the IPO. In 2007, Rivendell had invested ₹151 crore in the company and thereafter it made an additional investment of ₹12.5 crore in 2011 totalling to ₹163.50 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories </a> <a href="https://www.businessinsider.in/tech/news/intel-will-make-angstrom-based-chips-for-qualcomm/articleshow/84816732.cms">Intel will manufacture Angstrom-based chips for Qualcomm to compete with foundry rivals by 2025 </a>

Rolex Rings’ IPO to help company focus on growth and come out of corporate debt restructuring

<ul><li>Shares of <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword> list at ₹1,249 while the shares were allotted at ₹900 per share.</li><li>The IPO was subscribed 130.44 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,263 crore.</li></ul>Shares of Rolex Rings made a strong listing on the National Stock Exchange (NSE) and BSE at over 38% premium over the issue price of ₹900 apiece. Post listing, the market capitalisation of the company stood at ₹3,263 crore ($439 million), according to BSE data. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other listed top auto parts makers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market capitalisation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹73,496 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹36,525 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹25,693 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra CIE Automotive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,228 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramkrishna Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,053 </td></tr></tbody><tbody></tbody></table>The shares of Rolex Rings were trading at ₹1,192, higher by 32% at 10.02 a.m., on August 9. The grey market showed a strong listing for Rolex Rings a day prior to the listing with a 40-45% premium. Moreover, the IPO ⁠— open between July 28 and July 30 ⁠— was a hit among investors. It was subscribed 130.44 times on the last day of the bidding. The IPO has received bids for 74.1 crore equity shares against the IPO size of 56.85 lakh equity shares. The Rajkot-based company is a manufacturer and global supplier of forged and machined components for automobile makers. The offer from the company consisted of a fresh issue of ₹56 crore and an offer for sale (OFS) by private equity firm Rivendell PE of up to 75 lakh equity shares. The company will use the IPO proceeds to fund its long-term working capital requirements and for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/cartrade-ipo-grey-market-premium-and-analysts-recommend-subscribe/articleshow/85169585.cms">CarTrade IPO ⁠— the share sale by this profitable tech startup gets a unanimous call for ‘subscribe’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/freshtohome-and-bluestone-backer-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a><h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 28px; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"></h1>

Rolex Rings IPO investors make 38% at listing ⁠— the auto components maker is now worth nearly half a billion dollars

<ul><li><keyword id="10967369" type="UNKNOWN" weightage="20" keywordseo="Rolex-Rings-IPO">Rolex Rings IPO</keyword> opens Wednesday and closes on July 30, Friday.</li><li>The company is looking to raise ₹731 crore through the public listing with a price band of ₹880-900.</li><li>The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot.</li></ul>With several initial public offering (IPO) announcements coming almost every day, there are two ongoing IPOs this week, one of automotive components manufacturer Rolex Rings that opens Wednesday and Glenmark Pharmaceuticals’ subsidiary Glenmark Life Sciences, which started on July 27 and ends on July 29. Rolex Rings IPO opens on July 28 and closes on July 30 with a price band of ₹880-900. The Rajkot-based company is a manufacturer and global supplier of forged and machined components. The firm has 3 manufacturing plants in Rajkot. The offer comprises a fresh issue of ₹56 crore and an offer for sale by private equity firm Rivendell PE of up to 75 lakh equity shares. The company will utilise the net proceeds of the IPO towards funding long-term working capital requirements and for general corporate purposes. Here are the important details to note: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹880 to ₹900 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 28 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 30 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 4 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 5 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 6 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 9 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr></tbody></table> In FY20, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, US and in European countries such as Germany, France, Italy, and Czech Republic, and Thailand. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/interglobe-aviation-maruti-suzuki-indusind-bank-and-other-stocks-to-watch-out-for-on-july-28/slidelist/84812927.cms">InterGlobe Aviation, Maruti Suzuki, IndusInd Bank and other stocks to watch out for on July 28 </a> <a href="https://www.businessinsider.in/business/news/ratan-tatas-fund-backed-axio-biosolutions-raises-6-million-to-strengthen-its-position-in-india/articleshow/84790703.cms">Ratan Tata’s fund-backed Axio Biosolutions raises $6 million to strengthen its position in India </a>

Rolex Rings IPO opens today with a price band of ₹880-900

Lenovo-owned smartphone brand <keyword id="11148" type="CITY" weightage="20" keywordseo="Motorola">Motorola</keyword> has hinted that its "Edge 20" series is coming soon for Indian users. The company has posted some teasers on its official Instagram and <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> accounts with the hashtag #FindYourEdge, suggesting an imminent launch of the Edge 20 lineup in India. The Edge 20 series consists of three smartphones -- Edge 20, Edge 20 Lite and Edge 20 Pro. However, it's unclear if Motorola will bring all three smartphones to India or skip any model, reports GSMArena. The <keyword id="11560528" type="UNKNOWN" weightage="20" keywordseo="motorola-edge-20-lite">Motorola Edge 20 Lite</keyword> is powered by the Snapdragon 720G SoC, sports a 6.7-inch FullHD+ 90 OLED screen and packs a 5,000 mAh battery. The vanilla Edge 20, on the other hand, has a Snapdragon 778G chip at the helm and comes with a 6.7-inch FullHD+ 144Hz OLED panel and a 4,000 mAh cell. The Edge 20 Pro, which is the top-end model in the lineup, comes with the Snapdragon 870 SoC, 6.7-inch FullHD+ 144Hz OLED display and a 4,500 mAh battery. All three smartphones support 30W charging and feature 108MP primary and 32MP selfie cameras, the report said. In April, the company launched two affordable G Series smartphones -- <keyword id="10963006" type="UNKNOWN" weightage="20" keywordseo="Moto-G60">Moto G60</keyword> and Moto G40 -- in India. The new Moto G60 is priced at Rs 17,999. While Moto G40 fusion is priced at Rs 13,999 for the 4GB+64GB variant and Rs 15,999 for the 6GB+128GB variant. Both Moto G60 and Moto G40 fusion are thoughtfully designed and exquisitely crafted. Tinted housing surrounding the rear cameras adds a touch of sophistication, the company said earlier. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-share-allotment-and-grey-market-premium-gmp-and-likely-listing-price/articleshow/85147938.cms">Check if Rolex Rings shares have been allotted to your account</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cartrade-raises-rs-900-crore-from-anchor-investors-ahead-of-its-ipo-issue-opens-on-monday/articleshow/85123261.cms">CarTrade raises Rs 900 crore from anchor investors ahead of its IPO, issue opens on Monday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/10-startups-raised-825-million-only-in-week-in-india/slidelist/85102144.cms">From BharatPe to MindTickle — Ten Indian startups raised over $825 million this week</a>

Lenovo drops a hint on Instagram and Twitter that Motorola's new Edge 20 series may enter India soon

<ul><li>Shares of <keyword id="11575469" type="UNKNOWN" weightage="20" keywordseo="tatva-chintan-pharma-chem">Tatva Chintan Pharma Chem</keyword> listed at over 100% premium from its price band of ₹1,073-1,083.</li><li>The IPO was subscribed 182 times on the final day of bidding.</li><li>The market capitalisation of the company stood at ₹5,175 crore.</li></ul>Shares of <keyword id="11573063" type="UNKNOWN" weightage="20" keywordseo="tatva-chintan">Tatva Chintan</keyword> <keyword id="11744552" type="UNKNOWN" weightage="20" keywordseo="pharma-chem">Pharma Chem</keyword>, speciality chemical manufacturer, made a strong listing on the National Stock Exchange (NSE) and BSE at over 100% premium from its price band of ₹1,073-1,083 per share. The stock had opened at ₹2,111.80 and reached ₹2,486 in 5 minutes, on July 29. Post listing, the market capitalisation of the company stood at ₹5,175 crore, according to BSE data. At 10:07 a.m., on July 29, shares of Tatva Chintan Pharma Chem were trading at ₹2,331, up 115%. The grey market premium of the stock had indicated a 105-110% premium with stock price at Rs 1,140-1,150 per share over the issue price. The company was looking to raise ₹500 crore through the public issue of shares. Gujarat-based speciality chemical manufacturer was a hit among investors during the bidding days, especially from non-institutional investors and qualified institutional buyers. The issue size was subscribed 182.04 times on the third and final day of the issue on July 20. The initial public offering (IPO) was subscribed much more than that of the recent speciality chemical company Clean Science and Technology IPO which was 95 times. In fact, most analysts had suggested subscribing to the IPO for the long term on strong growth opportunities in global markets. The IPO was open for subscription from July 16 to July 20. The company manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-tata-motors-bandhan-and-pnb-bank-bank-of-india-and-many-other-stocks-down-with-10-in-last-one-month/articleshow/84847887.cms">From Adani Group to Tata Motors and banks ⁠— these 17 stocks have already lost over 10% in last one month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-subscription-status-today/articleshow/84827590.cms">Rolex Rings IPO gets subscribed 3.84 times on the first day of bidding</a>

Tatva Chintan Pharma Chem IPO makes strong listing on exchanges with 100% premium, shares open at ₹2,111

<ul><li>Ultrahuman and boAt have recently launched their <keyword id="2123001" type="General" weightage="20" keywordseo="smart-rings" source="Orion">smart rings</keyword> in India.</li><li>Noise has announced the Luna Ring, its premium <keyword id="2007826" type="General" weightage="100" keywordseo="smart-ring" source="Orion">smart ring</keyword> in the country.</li><li>Samsung is reportedly working on <keyword id="16668099" type="General" weightage="80" keywordseo="galaxy-ring" source="Orion">Galaxy Ring</keyword>, a smart ring in collaboration with Japan’s Meiko.</li><li>With increased interest among major companies, smart rings may soon become mainstream.</li></ul> <keyword id="1010975" type="General" weightage="20" keywordseo="smartwatches" source="Orion">Smartwatches</keyword> are essential devices that allow us to keep a track of several important health metrics, including heart rate and blood oxygen saturation. While smartwatches have been<a href="https://www.businessinsider.in/tech/news/india-dominates-smartwatch-market-accounts-for-over-a-quarter-of-global-sales-in-q1-2023/articleshow/100522354.cms%5d"> selling</a> like hot cakes, companies are now working on smart rings, which will be able to offer the same functionality in a smaller form-factor. While smart rings are not a new concept, the device is now coming into the limelight as major companies are looking to enter this segment. <cmsannotation type="cmsannotation" annotationid="Noise announces Luna Ring" comment="subhead" text="Noise announces Luna Ring">Noise announces Luna Ring</cmsannotation> Noise is the latest company to foray into the smart ring segment. The company has announced the Luna Ring, a premium smart ring with a titanium body. The ring is capable of tracking over 70 health metrics, include heart rate, temperature and SpO2 levels. The Luna Ring is compatible with both, Android and iOS devices and comes with a 7-day battery life. <cmsannotation type="cmsannotation" annotationid="Ultrahuman, boAt unveil their smart rings" comment="subhead" text="Ultrahuman, boAt unveil their smart rings">Ultrahuman, boAt unveil their smart rings</cmsannotation> Ultrahuman, a Bengaluru-based startup launched the Ring Air, the company’s smart ring in June 2023 and boAt recently entered the segment with the launch of the boAt Smart Ring. <cmsannotation type="cmsannotation" annotationid="Samsung is reportedly working on the Galaxy Ring" comment="subhead" text="Samsung is reportedly working on the Galaxy Ring">Samsung is reportedly working on the Galaxy Ring</cmsannotation> A Korean website, The Elec recently reported that Samsung is working on its own “Galaxy Ring”. The South Korean smartphone maker already has a popular Galaxy Watch line-up and is scheduled to launch the Galaxy Watch 6 series at its upcoming<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms"> Galaxy Unpacked</a> event on July 26. While it may be too early, Samsung may reveal some information about the Galaxy Ring at its upcoming event. Samsung has reportedly partnered with Japan’s Meiko to develop the printed circuit board (PCB) for the smart ring. Finnish health tech giant Oura is well known for its smart rings that provide continuous health monitoring and activity tracking. Oura’s Ring is currently not available in India. <cmsannotation type="cmsannotation" annotationid="How are smart rings different from smart watches?" comment="subhead" text="How are smart rings different from smart watches?">How are smart rings different from smart watches?</cmsannotation> The biggest difference between smartwatches and smart rings is the size. While smartwatches are usually the same size or even bigger than traditional watches, smart rings offer similar functionality in a compact form factor. At the same time, a smart ring misses out on a display, which allows users to get access to a lot of data by looking at their watch, without having to take out their phones. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms">Netweb Technologies IPO allotment – how to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms">Ola S1 Air to hit Indian roads soon – price, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

Noise joins the smart rings bandwagon as a new category emerges

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Rolex's sportier models get all the glory, but the Swiss watchmaker also has a classic dress watch line that shouldn't be missed.Launched in 2014 and called the "Cellini," the watches are thinner and more minimal than the rest of the Rolex lineup. They haven't evolved much since then, but a new release at Baselworld this year is about to change that.The <a href="https://www.rolex.com/watches/baselworld/new-cellini-moonphase/m50535-0002.html">Rolex Cellini Moonphase</a> is Rolex's newest entry in its dress watch line. The addition of a moonphase marks the first time the brand has included that complication since the 1950s, <a href="https://www.hodinkee.com/articles/rolex-cellini-moonphase-introducing">according to Hodinkee</a>.The moonphase complication will remain accurate for 122 years without adjustment, according to Rolex. It tells the current lunar phase with a blue disk carrying an empty ring and meteorite appliqué moon.The date can also be read using the numerals on the edge of the white lacquer dial. The 39 mm case uses Rolex's proprietary 18k rose gold alloy called "Everose," and it's paired with an alligator leather strap.The watch will be released soon, and it carries a price tag of $26,750.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/watches-worn-most-powerful-men-finance-larry-fink-warren-buffett-rolex-ray-dalio-2017-3">These are the watches worn by some of the most powerful men in finance</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="g0a25mYTE6uRpJNAu6rFcACj-WtCRgKL" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "rolex rings ipo allotment" and got 11 results

Today is the last day of Rolex Rings’ ₹731 crore IPO with a price band of ₹880-900

Bhakti Makwana

Check if Rolex Rings shares have been allotted to your account

BI India Bureau

Another IPO in July: Rolex Rings to raise ₹731 crore through public listing

Bhakti Makwana

Rolex Rings IPO gets subscribed 9.26 times on the second day of bidding

Bhakti Makwana

Rolex Rings’ IPO to help company focus on growth and come out of corporate debt restructuring

Bhakti Makwana

Rolex Rings IPO investors make 38% at listing ⁠— the auto components maker is now worth nearly half a billion dollars

Bhakti Makwana

Rolex Rings IPO opens today with a price band of ₹880-900

Bhakti Makwana

Lenovo drops a hint on Instagram and Twitter that Motorola's new Edge 20 series may enter India soon

IANS

Tatva Chintan Pharma Chem IPO makes strong listing on exchanges with 100% premium, shares open at ₹2,111

Bhakti Makwana

Noise joins the smart rings bandwagon as a new category emerges

Sourabh Jain

Rolex released a new watch with a feature it hasn't used since the 1950s

Dennis Green

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