Rolex Rings Limited IPO - Date, Price, GMP, Valuation, Company Strength, IPO Details

Gaurav Seth
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Gaurav Seth

Rolex Rings Limited IPO

Incorporated in 2003, Rolex Rings is one of the top 5 forging companies in India. It is a manufacturer and global supplier of hot rolled forged and machined bearings rings, and automotive components for vehicles including passenger vehicles, two-wheelers, commercial vehicles, off-highway vehicles, electric vehicles, etc.

Rolex rings supply domestically and internationally to large marquee customers including tier-I suppliers to global auto companies, some of the leading bearing manufacturing companies, and some auto OEMs. It is one of the key manufacturers of bearing rings in India and it caters to most of the leading bearing companies in India. In the fiscal year 2021, it supplied bearing rings and automotive components to over 60 customers in 17 countries that include the United States of America, Germany, France, Italy, Thailand, etc. 

Rolex rings set up its first manufacturing plant in Rajkot and as of 30th June 2021, it has 3 manufacturing plants in Rajkot which include machining facilities consisting of 528 spindles with a combined installed capacity of 69 million parts per annum, 22 forging lines with a combined installed capacity of 1,44,750 MTPA, and other machinery including heat treatment furnaces, cold rolling machines, and other infrastructure.

The promoters of the company are Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka, and Bhautik Dayashankar Madeka.

Strengths of the Company

  • Comprehensive product portfolio
  • Manufacturing capabilities that offer scale, locational advantage, and flexibility
  • Long-standing customer relationships
  • Geographically diversified revenue base
  • Strong financial performance
  • Experienced promoters and management team

Purpose of the IPO

  • To fund the long term working capital requirements
  • For general corporate purposes

Financial Performance of the company

 FY 2021FY 2020FY 2019
Total Revenue619.75675.33911.25
Profit After Tax75.1872.08140.56
Total Assets796.92686.17782.25

*All the values are in crores and as per RHP.

Valuation of the Company

 FY 2021FY 2020FY 2019
Basic Earnings per Share (EPS)36.2622.0824.62
Diluted Earnings per Share (EPS)35.9622.0824.62
Return on Net Worth (%)24.38%19.75%27.42%
Net Assets Value per Equity share148.76111.8089.80

*As per RHP. 

Rolex Rings Limited IPO DRHP

Rolex Rings Limited IPO RHP

IPO details

Face Value₹10 per equity share
Market Lot16 Shares
Minimum Order Quantity16 Shares
Price Band₹880- ₹900 per equity share
Issue typeBook Built Issue IPO
Issue Size₹731 Crores
Fresh Issue₹56 Crores
Offer for Sale₹675 Crores
Listing NSE, BSE

Important IPO dates

Open Date28th July 2021
Close Date30th July 2021
Basis of Allotment Date04th August 2021
Initiation of Refunds05th August 2021
The credit of shares to Demat Account06th August 2021
Listing Date09th August 2021

Check your Rolex Rings Limited IPO allotment status here:

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