Stage set for Rolex Rings IPO opening! Price band, issue size, open and close dates, minimum investment - All that INVESTORS need to know
The Initial Public Offering (IPO) of Automotive components manufacturer Rolex Rings will close on July 30, 2021.
Rolex Rings IPO will open for subscription on Wednesday, 28 July, 2021. The Initial Public Offering (IPO) of Automotive components manufacturer Rolex Rings will close on July 30, 2021. Rolex Rings has come up with Rs 731-crore IPO, which also comprises a fresh issue of Rs 56 crore and an offer-for-sale (OFS) of up to Rs 75 lakh equity shares by Rivendell PE LLC.
As per DRHP (Detailed Red Herring Prospectus) of the company, Rolex Rings IPO will see 50 per cent shares reserved for Qualified Institutional Buyers (QIBs), not less than 35 per cent for retail investors and the remaining 15 per cent for Non-Institutional Investors (NIIs).
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Before Rolex Rings IPO opens for subscription tomorrow, the investors should know all key details related to the IPO:
Rolex Rings IPO IPO Price Band: Rs 880 to Rs 900 per equity share
Rolex Rings IPO Market Lot: 16 Shares
Rolex Rings IPO Min Order Quantity: 16 Shares
Rolex Rings IPO: Rs 731.00 Crore
Rolex Rings IPO Important Dates:
Rolex Rings IPO Open Date: July 28, 2021
Rolex Rings IPO Close Date: July 30, 2021
Rolex Rings Basis of Allotment Date: August 4, 2021
Rolex Rings Initiation of Refunds: August 5, 2021
Rolex Rings Credit of Shares to Demat Account: August 6, 2021
Rolex Rings IPO Listing Date: August 9, 2021
Rolex Rings IPO Issue Type: Book Built Issue IPO
Rolex Rings IPO Face Value: ₹10 per equity share
Rolex Rings IPO: Listing on BSE, NSE
The money raised through the IPO will be utilised for the purpose of funding the long-term working capital requirements of the Company and for general corporate purposes. “Our Company proposes to utilise Rs 450 million from the Net Proceeds towards funding the long-term working capital requirements of the Company,” and for general corporate purposes, the company has said in its Red Herring Prospectus.
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