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Wednesday, September 22, 2021

Rolex Rings shares list with 39% premium

The stock listed at Rs 1,249, registering a jump of 38.77 per cent from its issue price on the BSE. It later zoomed 40.55 per cent to Rs 1,264.95.

By: PTI | New Delhi |
Updated: August 9, 2021 11:48:27 am
Rolex Rings IPO, Rolex Rings IPO date, Rolex Rings IPO priceThe auto component maker expects to receive the benefits of listing the equity shares on the stock exchanges, enhancement of its brand name among existing and potential customers, and the creation of a public market for its equity shares in India. (Image: Rolex Rolled Rings)

Shares of auto components maker Rolex Rings Ltd on Monday listed on the bourses with a premium of nearly 39 per cent against the issue price of Rs 900.

The stock listed at Rs 1,249, registering a jump of 38.77 per cent from its issue price on the BSE. It later zoomed 40.55 per cent to Rs 1,264.95.

At the NSE, it made its debut at Rs 1,250, reflecting a jump of 38.88 per cent.

The company’s market valuation was at Rs 3,090.98 crore on the BSE.

Mirroring massive investor response, Rolex Rings initial public offer was subscribed 130.44 times last month.

The Rs 731-crore offer was in a price range of Rs 880-900 a share.

Based in Rajkot, Gujarat, Rolex Rings is among the leading manufacturers of forged and machined components in the country.

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