Updated: July 30, 2021 5:29:13 pm
Rolex Rings IPO subscription status: The initial public offering (IPO) of auto-components manufacturer Rolex Rings, which was launched earlier this week was met with a bumper demand by the investors.
Rolex Rings IPO was subscribed 130.43 times on the final day, data available on the BSE showed. The Rs 731 crore offer received bids for over 74.15 crore (74,15,76,736) shares against the total issue size of 56.85 lakh (56,85,556) shares, the data showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) got subscribed 143.58 times, while those of non institutional investors were subscribed a whopping 360.11 times and that of retail individual investors (RIIs) was subscribed 24.48 times, the BSE data showed.
Half of the issue size was been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
The Rolex Rings IPO of a fresh issue of equity shares worth Rs 56 crore and an offer for sale of up to 75 lakh equity stocks by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC).
The IPO had opened for subscription on Wednesday, July 28, 2021, and concluded at 5 pm today. It had a price band of Rs 880-900 per share and before heading into the IPO, Rolex Rings raised over Rs 219 crore (Rs 2,19,29,99,400) from 26 anchor investors in lieu of 24,36,666 equity shares at Rs 900 each.
Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Rolex Rings is expected to take place on Wednesday, August 4, 2021, as per the information provided in the red herring prospectus.
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