Rolex Rings Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹900
Per ShareLot Size
16 Shares
Minimum Investment
₹14,400
Issue Size
₹716 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Rolex Rings Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
48.8%
Issue Type
Book Building
ISIN
INE645S01024
About the Company
Rolex Rings Limited is one of the top five forging companies in India and a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components for segments of vehicles including passenger vehicles, commercial vehicles, two-wheeler vehicles and off-highway vehicles and electric vehicles. It supplies domestically and internationally to large marquee customers including some of the leading bearing manufacturing companies, tier-I suppliers to global auto companies and auto OEMs. It is one of the key manufacturers of bearing rings in India and cater to most of the leading bearing companies in India.
Industry Overview
The Indian bearing market is estimated at Rs. 12,000 crore and it constitutes less than 4% of the global bearing demand. In terms of consumption, about 60% requirement is met through domestic production while the remaining is met through imports. Bearing Rings form one of the most critical and largest raw material cost for the bearings sector and at Rs. 2,200 crores, the industry contributes ~18.3% of the size of domestic bearing market.
Company History
Rolex Rings Limited originally started as a business in partnership under the name of `Rolex Industries' by two of its Promoters Rupesh Dayashankar Madeka and Manesh Dayashankar Madeka in 1977-1978. The partnership firm was, thereafter, converted into a joint stock company under the Companies Act, 1956, in the name of `Rolex Rings Private Limited', and a certificate of incorporation dated February 13, 2003 was issued by the RoC. The name of the Company was further changed to Rolex Rings Limited upon conversion to a public limited company and consequently a fresh certificate of incorporation was issued by the RoC, on March 10, 2021, recording the change of its Company's name to `Rolex Rings Limited'.
Growth Strategy
- Increasing its share of business amongst existing customers
- Expand its customer base
- Continuing focus on improving operational efficiency
- Further enhance its manufacturing infrastructure and product portfolio
- Reduce its power costs and reduce its carbon footprint
- Further improve its financial risk profile
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial Public Offering of 8,122,222 equity shares of face value of Rs.10 each ("equity shares") of Rolex Rings Limited (the "company" or the "issuer") for cash at a price of Rs. 900 per equity share including a securities premium of Rs. 890 per equity share (the "offer price") aggregating to Rs. 731 Crores (the "offer"). The offer comprises of a fresh issue of 622,222 equity shares by the company aggregating to Rs. 56 Crores (the "fresh issue") and an offer for sale by Rivendell Pe LLC, (the "selling shareholder"), of 7,500,000 equity shares aggregating to Rs. 675 Crores ("the offer for sale"). The offer shall constitute 29.82% of the post-offer paid-up equity share capital of the Company. The face value the equity shares of Rs.10 each and The price is Rs.900 per share and is the 90 times of the face value.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Comprehensive product portfolio
- Manufacturing capabilities which offer scale, flexibility and locational advantage
- Long standing customer relationships and geographically diversified revenue base
- Experienced Promoters and management team with strong domain expertise
- Strong financial performance over the past three years
- Company have defaulted in payment of certain loans in the past, and had approached CDR Cell for restructuring debt in FY 2013
- Company 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 its business, results of operations, cash flows and financial condition.
- Company's loan agreements requires its Promoters and certain members of its Promoter Group to pledge Equity Shares and NCRPS of its Company with lenders. A breach by Company of certain covenants under the financing agreements may entitle these lenders to exercise their rights under the financing agreements and reduce the hareholding of its Promoters and certain members of the Promoter Group, which may adversely affect its business.
- Any shortages, slowdown or shutdown in its manufacturing operations may lead to under-utilization at its existing manufacturing facilities which could have an adverse effect on its 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 its operations, and could negatively impact its business, revenues, financial condition, cash flows and results of operations.