Rolex Rings’ Initial Public Offering (IPO) received a massive response from investors when it opened for subscription from July 28 to July 30. The Rs 731 crore public issue was fully subscribed within minutes of opening. The Rolex Rings IPO was subscribed 130.44 times. It was the fifth highest subscription ever recorded by an IPO in 2021. The offer included a new issue of Rs 56 crore and an offer to sell of Rs 675 crore by Rivendell PE LLC. The company will use the net proceeds of the new issue for its working capital requirements. The portion reserved for qualified institutional buyers was subscribed 143.58 times and that of non-institutional investors 360.11 times. The retail quota was counted 24.49 times, according to data available on the exchange.
The stock award status of the Rolex Rings IPO was finalized on Thursday. Those who have applied for the Rolex Rings IPO can verify their application in two ways: a) through the ESB website, b) through the IPO Registrar website.
How to check the IPO attribution status of Rolex rings via the ESB
1) Go to the official ESB website. Via the URL (https://www.bseindia.com/investors/appli_check.aspx).
2) This will take you to a page called “Application Status of Requestâ€. There you have to select the “Equity†option.
3) Select “Rolex Rings Limited” from the drop-down menu next to the name of the problem.
4) Enter your application number and the permanent account number (PAN). Then you just have to click on “I am not a robot” to verify yourself and click on “Search”. This will show you the status of the request.
How to check the award status of Rolex rings through the registrar’s website (Link Intime India)
1) Go to Link Intime India website using URL: (https://www.linkintime.co.in/IPO/public-issues.html)
2) Select the “Rolex Rings Limited†option from the drop-down list under “Companyâ€. The name will only be filled in if the allocation is finalized
3) You must select one of three modes: Application number, Client ID or PAN ID
4) In the application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in step 2
6) Fill in Captcha and enter the ‘Submit’ option
Once the stock award status of the Rolex Rings IPO is finalized, the redemption will be credited to ineligible investors on August 6. Eligible investors will receive the shares in their accounts on August 6-7. Rolex Rings shares will hit the NSE and BSE on August 9.
Unlisted shares of Rolex Rings Limited have seen price spikes in recent days. The gray market premium (GMP) of Rolex Rings shares was Rs 480 on Thursday, compared to the issue price of Rs 880-900, according to market watchers. The gray market premium of the Rolex ring was seen at a price of Rs 13.80, a jump of 53% from the higher end of the price range. Market watchers are expecting a strong stock quote from this auto components manufacturing company.
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