Rolex Rings IPO to open tomorrow: Should you subscribe?
Business

Rolex Rings IPO to open tomorrow: Should you subscribe?

By Dan Neff

Rajkot-based Rolex Rings is among the country’s top five forging companies.

Synopsis

Given the cyclical nature of the business, past record of loan default, growth prospects, better return ratios, and a focus on reducing debt, investors with a high-risk appetite may consider the IPO.

Issue dates: 28-30 July 2021

Price band: Rs 880-900/share

Issue size: Rs 716-731 crore

Implied market capitalization: Rs 2,450 crore

Lot size: 16 shares

ET Intelligence Group: Rolex Rings, a maker of rings for bearings used in automotive and industrial applications, plans to raise Rs 56 crore through a fresh issue of equity shares and up to Rs 675 crore through an offer for sale of a portion of existing shares. Given the cyclical nature of

BY

ET Bureau

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Dan Neff