Rolex Rings IPO subscribed 9.26 times at end of Day-2
The Rs.731 crore IPO of Rolex, consisting of Rs.56 crore fresh issue and Rs.675 crore OFS, has gradually built on the response from retail investors on Day-1 and Day-2. As per the combined bid details put out by the BSE, Rolex Rings IPO was subscribed 9.26X overall, with bulk of the demand coming from the retail segment followed by the HNI segment. The issue had been subscribed 3.84X on Day-1 itself.
Also Read: Rolex Rings IPO Day 1 Subscription
As of close of 29 July, out of the 56.86 lakh shares on offer in the IPO, Rolex Rings saw applications for 526.39 lakh shares. This implies an overall subscription of 9.26X. The granular break-up of subscriptions were tilted in favour of retail investors but HNI portion has seen good traction on Day 2.
The QIB portion remains tepid at the end of Day-2 also. On 27 July, Rolex Rings did an anchor placement of 24.37 lakh shares to QIB investors like HDFC MF, Axis MF, ICICI Pru MF, Birla MF, Kotak MF and SBI MF. QIB portion is just subscribed 0.23X, but is likely to see action on the last day.
The HNI portion got subscribed 5.58X (getting applications for 71.22 lakh shares against the quota of 12.18 lakh shares). Of course, funded applications and corporate applications, will come in on the last day. The real big story was the retail portion, which is already subscribed 15.88 times at the end of Day-2, showing strong retail appetite.
Among retail investors; out of the 28.43 lakh shares on offer, valid bids were received for 451.47 lakh shares, of which bids for 356.11 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.880-Rs.900) and will close for subscription on Friday, 30 July.
Start Investing Now!
Open Free Demat Account in 5 mins