Rolex Rings IPO subscribed 9.26 times at end of Day-2

Rolex Rings IPO Subscription Day 2

by 5paisa Research Team Last Updated: Mar 14, 2023 - 03:07 pm 57.3k Views
Listen icon

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. 
 

How do you rate this blog?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

oda_gif_reasons_colorful

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Top Private Banks in India 2024

India has a large banking sector with 21 private and 12 public sector banks. The top private banks in India are the reason behind India’s economic growth, making it one of the most rapidly emerging nations in the world. Moreover, with becoming the most populated country around the globe, India also has the largest economy. 

Mukka Proteins IPO Allotment Status

About the Mukka Proteins Ltd IPO The stock of Mukka Proteins Ltd has a face value of ₹1 per share and the price band for the book building IPO has been set in the range of ₹26 to ₹28 per share. The Mukka Proteins IPO will be entirely a fresh issue of shares with no offer for sale (OFS) component. A fresh issue tends to bring in fresh funds into the company, but is also EPS and equity dilutive.

M.V.K. Agro Food Product IPO Allotment Status

Building blocks of the M.V.K. Agro Food Product Ltd IPO The stock of M.V.K. Agro Food Product Ltd has a face value of ₹10 per share and it is a fixed price issue. The price for the book building issue is set at ₹120 per share. Being a fixed price IPO, the question of price discovery does not arise in this case. The M.V.K.