Rolex Rings Limited IPO

Incorporated in 2003, Rolex Rings is among the top five forging companies in India. The company manufactures hot rolled forged & machine bearing rings and automotive components that are used across segments i.e. passenger vehicles, 2-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines, railways, etc. A wide range of product offerings such as automotive parts, hot forged and machined alloy steel bearing rings weighing from 0.01 Kg to 163+ kg caters to different industries i.e. automotive, industrial infrastructure, railways, renewable energy, etc.

The company supplies its products on both the domestic as well as international ground to automotive companies and leading bearing manufacturers such as SRF India, Schaeffler India, Timken India, etc. In fiscal 2020, it has exported bearing rings and automotive components to 17 different countries i.e. France, Italy, Germany, Thailand, Czech Republic, USA, and others.
Currently, the firm has 3 manufacturing plants in Rajkot with 22 forging lines with an aggregated installed capacity of 1,44,750 MTPA.

Competitive Strengths:

  • Among the leading forging companies in India.
  • Strong manufacturing capabilities.
  • Comprehensive product portfolio.
  • Geographically diversified revenue base.
  • Strong and consistent financial performance track record.

Company Promoters:

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

Company Financials

Particulars For the year/period ended (₹ in million)
Summary of financial Information (Restated Consolidated) 30-Sep-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 6,710.26 6,861.73 7,822.57  8,034.97
Total Revenue 2,254.59 6,753.32 9,112.54 7,915.43
Profit After Tax 253.14 529.41 590.41 728.77


Objects of the Issue: 

  • Funding long-term working capital requirements.
  • General corporate purposes.

(Read detailed report)


Issue Details


ISSUE OPENS
Wednesday, July 28, 2021

ISSUE CLOSES
Friday, July 30, 2021

ISSUE PRICE
Rs 880 - Rs 900 Per Equity Share.

BID LOT
16 Equity shares & multiple of 16 Equity shares thereafter.

IPO SIZE
Rs. 731 Cr

LISTING EXCHANGES
NSE & BSE

ALLOTMENT DATE
Tentatively Thursday, August 05, 2021

RATIOS
QIB 50% - Retail 35% - NIB 15%

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