On the block is a fresh issue of shares aggregating up to Rs 56 crore and an offer for sale of up to 7,500,000 shares. At the upper band of the price band, the issue size stands at Rs 731 crore, with the implied post-issue market capital at Rs 2,451 crore.
A total of 35 per cent of the quota is reserved for retail investors, 14 per cent for HNIs and the rest 50 per cent for qualified institutional buyers (QIBs). Investors can bid for a minimum of 16 shares and in multiples thereafter.
Rolex is among top five forging companies in India. It is a manufacturer and global supplier of hot rolled forged and machined bearing rings and offers components for two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, and electric vehicles. It also offers products in segments such as industrial machinery, wind turbines, and railways.
The IPO would close on Friday. The finalisation of the basis of allotment is likely by August 4 while refunds are likely to be initiated on August 5. Credit of shares to investors are likely by August 6 and listing by August 9.
At present, Rolex has 22 forging lines with a combined installed capacity of 1,44,750 MTPA. Its machining facilities consist of 528 spindles with a combined installed capacity of 69 million parts per annum. Other machinery including heat treatment furnaces, cold rolling machines and other infrastructure.
The company intends to de-risk its business’ dependence on changes in power tariffs and reduce their carbon footprint through investment in renewable energy.
At present, it has windmills with installed capacity of 8.75 MW. The company is in the process of expanding the capacity of solar projects by an installed capacity of 16 MW and has already placed purchase orders for equipment with an installed capacity of 7.35 MW.
The proposed expansion is expected to help it reduce its carbon footprint and expanding profit margins.
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