Rolex Rings Limited IPO – July 28 to 30

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Rolex Rings Limited IPO – July 28 to 30

July 27, 2021
Rolex Rings Limited IPO – July 28 to 30

Rolex Rings Ltd. is coming out with a fresh public issue to raise Rs 731 crores from the market.

Key details of the issue:

  • Issue opens – July 28 (Wednesday)
  • Issue closes – July 30 (Friday)
  • Issue size – Rs 731 crores
  • Price band – Rs 880 to 900 per equity share
  • Bid lot – 16 shares and in multiples thereof

And here are some details of the company and further details on the Rolex Rings Ltd. issue.

Company details:

Rolex Rings Limited started manufacturing operations in 1988 with their first manufacturing plant set up in Rajkot. As on date of the RHP, they have 3 manufacturing units in Rajkot.

They are one of the top five forging companies in India in terms of installed capacity (Source: ICRA Report) and a manufacturer and global supplier of hot-rolled forged and machined bearing rings and automotive components for segments of vehicles that include two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways, among other segments.

They supply domestically and internationally to large marquee customers, including some of the leading bearing manufacturing companies, tier-I suppliers to global auto companies and some auto OEMs. As per ICRA Report, SKF India Limited, Schaeffler India Limited, Timken India Limited, NEI and NRB collectively account for 81% of the market share of the Indian bearing industry. They are one of the key manufacturers of bearing rings in India (Source: ICRA Report) and cater to most of the leading bearing companies in India.

Their product portfolio includes a wide range of bearing rings, parts of gear box and automotive components, among others. Their manufacturing capabilities are complemented by their tool design, engineering and product development capabilities. Till date, they have offered a diverse range of hot forged and machined alloy steel bearing rings weighing from 0.01 kilograms to over 163 kilograms, and with inner diameter of 25 millimetres to outer diameter of 900 millimetres. This makes their products suitable for a wide range of end-user industries such as Automotive, Railways, Industrial Infrastructure and Renewable Energy, among others.

For Fiscal 2021, they supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, United States of America and in European countries such as Germany, France, Italy, Czech Republic and Thailand.

They have received awards from their customers in relation to their products, such as Supplier Quality Excellence Award from General Motors in 2018 and 2019 and Excellence in New Product Development from Timken in 2018. They have also received various certifications, demonstrating their dedication and commitment to quality and service excellence. They have recently also received the Q1 Preferred Quality Status Award in May 2021 from Ford.

Issue size: Rs 731 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 365 crores
  • NIB – 15% of the offer – Rs 110 crores
  • RET – 35% of the offer – Rs 256 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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