Rolex Rings IPO: Check allotment date, status; Grey Market Premium strong
Rolex Rings IPO allotment will be finalised on Wednesday. Rolex Rings IPO allotment status will be available on Link Intime's website. Link Intime India Private is the official registrar of Rolex Rings IPO. Investors can also check Rolex Rings IPO allotment status on the official Bombay Stock Exchange website.
Rolex Rings IPO worth Rs 731-crore received bids for 74,16,00,096 shares against 56,85,556 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 143.58 times, non-institutional investors 360.11 times, and retail individual investors (RIIs) 24.49 times.
Rolex Rings IPO comprised a fresh issue of up to Rs 56 crore and an offer for the sale of up to 75 lakh equity shares. The offer was in a price range of Rs 880-900 a share. Rolex Rings had earlier raised over Rs 219 crore from anchor investors.
Rolex Rings IPO was the fifth-highest subscribed IPO in 2021 after MTAR Technologies, Tatva Chintan Pharma Chem, Nazara Technologies and Easy Trip Planners.
Rolex Rings IPO is commanding a strong premium in the grey market. However, today's premium is less than its high of Rs 555. Rolex Rings IPO's latest GMP is a little less than 50 per cent. Rolex Rings IPO GMP is currently Rs 420-450.
Although Rolex Rings IPO GMP has declined marginally, investors are hopeful of a good listing gain from Rolex Rings IPO.
Rolex Rings shares will be credited to the Demat account of investors once IPO allotment status is finalised. Rolex Rings shares will be credited to the Demat account of eligible investors on August 5. Ineligible investors will get a refund on August 6.
Rolex Rings shares will be listed on BSE and NSE on August 9.
Rolex Rings has said that it will use the proceeds from the fresh issue towards funding long-term working capital requirements as well as general corporate purposes.
Rolex Rings is based in Gujarat's Rajkot. It is an auto components maker company. Rolex Rings is among the leading manufacturers of forged and machined components in the country.
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