Rolex Rings Ltd IPO

Closed

IPO Subscription Details

  • Open Date 28 Jul
  • Close Date 30 Jul
  • Lot Size 16
  • IPO Size ₹ ₹ 731 Cr
  • IPO Price Range ₹ 880 - ₹ 900
  • Min Investment ₹ 14,080
  • Listing Exchange NSE, BSE
  • Basis of Allotment 04 Aug
  • Refunds 05 Aug
  • Credit to Demat Account 06 Aug
  • Listing Date 09 Aug

Rolex Rings Ltd IPO Subscription Status

Rolex Rings IPO Subscription Status

Category Subscription Status
Qualified Institutional (QIB) 143.58 Times
Non-Institutional (NII) 360.11 Times
Retail Individual 24.49 Times
Total 130.44 Times

 

Rolex Rings IPO Subscription Details (Day by Day)

Date QIB NII Retail Total
July 28, 2021 17:00 0.00x 1.34x 7.11x 3.84x
July 29, 2021 17:00 0.23x 5.85x  15.89x  9.26x 
July 30, 2021 17:00 143.58x 360.11x 24.49x 130.44x

IPO Synopsis

Rolex Rings Ltd is launching its Initial Public Offering in July 2021. The IPO will be open for bidding since 28th July 2021 and investors can apply for subscriptions till 30th July 2021. 

Fresh Issue of Equity Shares aggregating upto ₹ 56 Crore and Offer for sale of upto 7,500,000 Equity Shares.
The Company proposes to utilise the Net Proceeds towards the following objects:


1.    Funding long-term working capital requirements 
2.    General corporate purposes

 

Rolex Rings Shareholding Pattern

 

% Shareholding

Pre- IPO(%)

Post-IPO(%)

Promoter & Promoter Group

58.99

57.64

Public

41.01

42.36

About Rolex Rings Ltd

Rolex Rings Limited (RRL) is 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 including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles), industrial machinery, wind turbines, and railways, amongst other segments. The company supplies 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. RRL is one of the key manufacturers of bearing rings in India (Source: ICRA Report) and caters to most of the leading bearing companies in India.

As per RHP, we have 22 forging lines with a combined installed capacity of 1,44,750 MTPA, machining facilities consisting of 528 spindles with a combined installed capacity of 69 million parts per annum and other machinery including heat treatment furnaces, cold rolling machines and other infrastructure.

The product portfolio includes a wide range of bearing rings, parts of gear box and automotive components, among others. For Fiscal 2021, RRL 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, and Czech Republic, and Thailand. The company has maintained long standing relations with customers and 70% of 10 largest customers for Fiscal 2021 have been with the company for over a decade.

Rolex Rings - Financials

Particulars (Rs in crore)

FY21

FY20

FY19

Revenue from operations

616

666

904

EBITDA

112

131

208

PAT

87

53

59


Rolex Rings Company Strengths :

1) Among the leading forging companies in India.
2) Strong manufacturing capabilities
3) Comprehensive product portfolio
4) Geographically diversified revenue base
5) Strong and consistent financial performance track record

 

Some of the competitive strengths are as follows

  • Comprehensive product portfolio:

Rolex Rings offers a diverse range of hot forged and machined alloy steel bearing rings weighing from 0.01 kg to over 163 kg and with inner diameter of 25 mm to outer diameter of 900 mm. This makes RRL products suitable for a wide range of end-user industries such as automotive, railways, industrial infrastructure and renewable energy, among others. They also offer auto components such as wheel hubs, shafts and spindles, gears, etc. The company’s strength in their product portfolio is shown by the fact that they supply domestically and internationally in each of their product segments. Their product portfolio helps them in offering a wide range of products to their customers, enhances their ability to attract new customers, improve their share of business amongst existing customers and helps de-risk the business through limited dependence on any single product category. 

 

  • Long standing customer relationships and geographically diversified revenue base

For Fiscal 2021, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, USA and in European countries such as Germany, France, Italy, Czech Republic and Thailand. Notably, they supply domestically and internationally to some of the leading manufacturers of bearings, Tier-I and Tier-II auto-component suppliers and certain auto OEMs. They have been able to maintain long standing relations with their customers and 70% of their 10 largest customers for Fiscal 2021 have been with them for over a decade. Company’s products find end use across automobile sector (including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles and electric vehicles), industrial machinery, wind turbines and railways, amongst other segments.

  • Experienced Promoters and management team with strong domain expertise:

Rolex Rings is led by an experienced management team that has the expertise and vision to manage and grow their business. Manesh Madeka, Chairman and Managing Director, has over 40 years of experience in the industry and has been engaged with the company since its inception. Their production and planning-related business is led by Bhautik Madeka, whole-time Director and the marketing functions and the development of new customers and products related business is led by Mihir Madeka, both of whom have over 18 years of experience in the industry. Besides, members of their senior management team have an average experience of over 24 years with most of such team members having been in the company for more than a decade.

Risk Factors:

Some of the risk factors are as follows

  • RRL is heavily dependent on the performance of the automotive sector in India, Europe, North America, Latin America and some part of Asia. Any adverse changes in the conditions affecting these markets can adversely impact our business, results of operations, cash flows and financial condition.
  • The continuing impact of the outbreak of the COVID-19 could have a significant effect on our operations, and could negatively impact our financial performance.
  • RRL is highly dependent on top 10 customers for their revenues. Any unfavorable decision taken by the customers would impact financial numbers.
     

How to apply for an IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

Contact Details of Rolex Rings Ltd IPO

Contact Information

Address

Rolex Rings Limited
B/h. Glowtech Steel Private Limited
Gondal Road, Kotharia, Rajkot, 360 004


Phone: 0281 6699677/577
Email: compliance@rolexrings.com
Website: http://www.rolexrings.com/

Rolex Rings Ltd IPO Register

Address

Link Intime India Private Ltd

C 101, 247 Park, L.B.S. Marg,

Vikhroli (West), Mumbai - 400083

 

Phone: +91-22-4918 6270 Email: rolex.ipo@linkintime.co.in Website: http://www.linkintime.co.in

Rolex Rings Ltd IPO Lead Manager

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IDBI Capital Markets & Securities Limited

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