Is Rolex Rings IPO good to buy?
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Is Rolex Rings IPO good to buy?
Majority of brokerage houses had recommended a subscribe rating for Rolex Rings IPO. “At the upper band of IPO price of Rs 900, it is valued at a P/E multiple of 35 (on recalculated EPS excluding the Rs 25 crore deferred tax credit) which is lower than the industry average of 83,” said KRChoksey Research.
Is Rolex Rings a good company?
The overall rating of Rolex Rings is 3.9, with Job Security being rated at the top and given a rating of 4.2.
Is Rolex Rings good for long term investment?
Therefore, investors can consider holding this for medium to long term,” said Likhita Chepa, Senior Research Analyst at CapitalVia Global Research. Rolex Rings raised Rs 731 crore from investors, through its IPO that comprised a fresh issue of Rs 56 crore and the rest Rs 675 crore by selling shareholders.
What is Rolex ring IPO?
Mirroring massive investors’ response, auto components maker Rolex Rings initial public offer (IPO), that had opened for subscription on July 28 and closed on July 30, was subscribed 130.44 times on its final day of the bidding. The company’s price band was fixed at ₹880-900 per share.
According to market observers, grey market premium is an unofficial data that reflects about the probable listing gain expected from an IPO.
Can I apply Rolex Rings IPO?
Rolex Rings is launching its IPO. The public offer comprises a fresh issue of equity shares aggregating up to Rs. 56 crores and an offer for sale of 75 lakh equity shares….Rolex Rings IPO Closed.
| IPO date | 28 Jul 2021 – 30 Jul 2021 |
|---|---|
| Price range | 880 – 900 |
| Minimum order quantity | 16 |
| (D)RHP | View |
Can we apply Rolex IPO?
Rolex Rings Limited is selling its shares to the public through an Initial Public Offer (IPO). Retail investors can apply online for Rolex Rings IPO shares through the banks (using ASBA) or through the broker (using UPI).
How do I get Rolex IPO rings?
Here is step by step guide:
- Login at the direct BSE link — bseindia.com/investors/appli_check.aspx;
- Enter Rolex Rings IPO name in the issue name;
- Enter your Rolex Rings IPO application number;
- Enter PAN details;
What is the GMP of Rolex ring?
Market observers maintained that during subscription period, Rolex Rings IPO GMP continuously oscillated around ₹525 to ₹550 but after the closure of the public issue, it has consistently remained above ₹400.
Do IPOs usually go up?
Yes, most IPOs go up and surge on their first opening day because on the opening day there is no one to sell the stocks immediately as compared to older IPOs so the company gives 3 days for the investors to invest and on the fourth day it releases it’s share price after investors invest.
When Rolex rings limited IPO will open for subscription?
Rolex Rings Limited IPO would open for subscription on 28th July 2021. Rolex Rings is among the top five forging companies in India. Company generated strong revenue and margin growth in the last 3 years.
What are Glenmark Life Sciences and Rolex rings IPO?
This week, the IPO of two companies – Glenmark Life Sciences and Rolex Rings – opened for subscription. Glenmark Life Sciences, the subsidiary of Glenmark Pharma, opened its IPO for subscription on July 27 till July 29, with a price band of Rs 695-720 per share.
But for those waiting to take a decision, there is no reason to rush. With IPOs a dime a dozen to choose from and limited funds at your disposal, Rolex Rings is not a compelling buy despite its reasonable valuation at about 25 times FY21 earnings (peer MM Forgings and Ramkrishna Forgings trade at about 35 times trailing earnings).
What is the price of Rolex’s fresh issue?
And in the case of Rolex Rings, this price is ₹806 cr. With that comes the Fresh Issue term, which in simple language means the issuance of new equity shares in the organization, basically selling these shares to the investors via an IPO. Rolex’s fresh issue is worth ₹56 crores.