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Rolex Rings Limited allocates 24,36,666 equity shares to Anchor Investors at the upper price band of ₹900 per equity share

Public offer to open on Wednesday, July 28, 2021 and close on Friday, July 30, 2021

Mumbai, NFAPost: Rolex Rings Limited (the “Company”), one of the top five forging companies in India in terms of installed capacity (Source: ICRA Report), allotted 24,36,666 equity shares to anchor investors and raised Rs 219.29 crores ahead of the company’s proposed IPO at the upper price band of ₹900 per equity share.

The Offer comprised of a fresh issue aggregating up to ₹560 million (the “Fresh Issue”) and an offer for sale by Rivendell PE LLC, (the “Selling Shareholder”), of up to 75,00,000 Equity Shares.

The anchor allocations are as follows:

The Anchor book was fully subscribed and witnessed participation from domestic mutual funds, insurance companies as well as foreign portfolio investors including from seven of the top ten largest mutual funds in India in terms of AUM.

Bids can be made for a minimum of 16 Equity Shares and in multiples of 16 Equity Shares thereafter.

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards (i) Funding long-term working capital requirements; and (ii) General corporate purposes.

Equirus Capital Private Limited, IDBI Capital Markets & Securities Limited and JM Financial Limited are the Book Running Lead Managers to the Offer.

The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE and NSE.

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