Rolex Rings IPO
Rolex Rings IPO — date, price band, lot size & details 2021
Rolex Rings listed on 9 Aug 2021 at ₹1,250, 38.9% above the ₹900 issue price.
Rolex Rings makes hot rolled forged and machined bearing rings and automotive components, and is among the top five forging companies in India. Its total income was Rs 619.76 crore in FY2021.
Stock price
Rolex Rings is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 28 Jul 2021
- Close 30 Jul 2021
- Allotment 04 Aug 2021
- Refund/credit 05 Aug 2021
- Listing 09 Aug 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 to 30 Jul, 2021 |
|---|---|
| Price Band | ₹880 – ₹900 |
| Face Value | ₹10 |
| Lot Size | 16 Shares |
| Issue Size | ₹731 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,400 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 16 shares at the ₹900 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 16 | ₹14,400 |
| Retail (max) | 13 | 208 | ₹1,87,200 |
| S-HNI (min) | 14 | 224 | ₹2,01,600 |
| S-HNI (max) | 69 | 1,104 | ₹9,93,600 |
| B-HNI (min) | 70 | 1,120 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 52.94 crore in FY2020 to Rs 86.96 crore in FY2021.
- 02Total borrowing fell from Rs 385.17 crore on 31 March 2019 to Rs 249.49 crore on 31 March 2021.
- 03Net worth grew from Rs 215.34 crore on 31 March 2019 to Rs 356.73 crore on 31 March 2021.
- 04The pre-issue P/E was 27.54 at the upper band of Rs 900, based on EPS of Rs 32.68.
- 05It exported to 17 countries in fiscal 2020 and supplies large bearing makers such as Schaeffler and Timken.
Risks · 6
- 01Total income fell from Rs 911.25 crore in FY2019 to Rs 619.76 crore in FY2021.
- 02EBITDA fell from Rs 208.02 crore in FY2019 to Rs 112.29 crore in FY2021.
- 03Rs 675.00 crore of the Rs 731 crore issue was offer for sale, so almost all the money went to selling shareholders.
- 04All 3 plants are in Rajkot, so a local disruption could hit output.
- 05Demand depends on the auto and bearing cycles, and exports to 17 countries add currency risk.
- 06Promoters and the promoter group held 58.99% before the issue and 57.64% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Rolex Rings offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 796.92 | 686.17 | 782.26 |
| Total Income | 619.76 | 675.33 | 911.25 |
| Profit After Tax | 86.96 | 52.94 | 59.04 |
| EBITDA | 112.29 | 130.78 | 208.02 |
| NET Worth | 356.73 | 268.11 | 215.34 |
| Reserves and Surplus | 332.75 | 244.12 | 191.36 |
| Total Borrowing | 249.49 | 258.95 | 385.17 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Rolex Rings RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Rolex Rings IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹32.68 | ₹31.93 |
| P/E Ratio (x) | 27.54 | 28.19 |
| Market Cap at Offer Price (₹ Cr) | ₹2,394.86 | ₹2,451.11 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹900 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹52.96 Cr of the issue is earmarked to named objects.
Rolex Rings IPO Anchor Investors
26 anchor investors across 13 fund houses committed ₹219.32 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its products go into passenger vehicles, two-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines and railways. Bearing rings range from 0.01 kg to over 163 kg. Customers include SRF India, Schaeffler India and Timken India.
In fiscal 2020 it exported to 17 countries, including France, Italy, Germany, Thailand, the Czech Republic and the USA. It has 3 plants in Rajkot with 22 forging lines and an installed capacity of 1,44,750 MTPA.
The IPO was Rs 731 crore, with Rs 56.00 crore of fresh issue and Rs 675.00 crore of offer for sale, mainly by investor Rivendell PE LLC. Rs 45.00 crore was planned for long-term working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Rolex Rings IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rolex Rings?
The current Grey Market Premium is ₹530, or 59% over the issue price.
What is the Rolex Rings IPO price band?
₹880 to ₹900, on a face value of ₹10.
When is the allotment?
The basis of allotment is 4 August 2021, with listing on 9 August 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
