Home >Markets >Ipo >Rolex Rings raises Rs219 crore from 26 anchor investors ahead of the IPO

Automotive components manufacturer Rolex Rings raised 219 crore from 26 anchor investors ahead of initial public offers (IPO).

The anchor investors include ITPL – Invesco, Matthews Asia, HSBC Global Investment.

In addition, HDFC Trustee Company Ltd, ICICI Prudential, Axis Mutual Fund, Kotak Mahindra Life Insurance and Nippon Life India Trustee were other investors invested in the anchor book bidding.

The 731 crore initial public offer will open for subscription on Wednesday at a price of 880-900 per share and will close for subscription on Friday.

The issue will comprise a fresh issue of 56 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC).

Equirus Capital Private Limited, IDBI Capital Markets & Securities Limited, and JM Financial Limited are the book running lead managers to the issue. Link Intime India Pvt Ltd is the registrar to the issue.

Up to 50% of the offer will be reserved for Qualified Institutional Buyers (QIBs), not less than 35 per cent for retail investors and the remaining 15 per cent for Non-Institutional Investors (NIIs). Investors can bid for a minimum of 16 equity shares and in multiples of thereof. The promoters of the company are Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka and Bhautik Dayashankar Madeka. This would be the 29th IPO in the calendar year 2021.

The basis of allotment of IPO shares with the designated stock exchange will take place on 4 August. The initiation of refunds or unblocking of funds from ASBA accounts is likely to happen on 5 August 2021. While the equity shares will be credited to depository accounts on 6 August 2021. Rolex Rings will make its stock market debut on 9 August 2021, according to the red herring prospectus filed by the company.

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