Rolex Rings IPO – Report card for stock on LISTING DAY – Where it started, closed on BSE, NSE!

Rolex Rings IPO – The stocks of Rolex Rings Limited were listed at a premium of almost 39 per cent on the NSE and BSE on Monday. On NSE, this stock was listed at Rs 1250 while on the BSE, it was listed at Rs 1249. The shares of Rolex Rings IPO, which was launched between 28-30 July 2021, were available in the price band of Rs 880 and Rs 900.

The stock attained an intraday high of Rs 1263 while an intraday low of 1105 on the NSE. This stock saw some profit booking after getting listed as the prices declined. The stock finally ended at 1170, down by 6.4 per cent or Rs 80 from the listing price.

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Meanwhile on the BSE, the stock settled at RS 1166.55, going down by almost 6 per cent or over Rs 82 from the listing price. The intraday high was Rs 1264.95 while the intraday low was Rs 1105.

The issue was subscribed 130.44 times on the NSE. The Retail Individual Investors (RIIs) subscribed the issue 24.49 times, while the non-institutional investors subscribed it 360 times. The Qualified Institutional Buyers (QIBs) subscribed the issue 143.58 times.       

The IPO was launched on 28 August 2021. The three-day public issued had ended on 30 July 2021. The issue type was 100 per cent book building with a price range between Rs 880 and 900. The face value of the equity share was Rs 10 while the ticket size was Rs 1.  The retail investors could apply for a maximum of Rs 2 lakhs and a minimum of 1 lot which comprised of 16 equity shares.

Based at Rajkot (Gujarat) India, Rolex Rings manufactures forged and machined components in India. The products cater to the automotive industry. Rolex manufactures transmission components, engine components, chassis components, exhaust system components and bearing rings.