Rolex Rings Ltd IPO

Last Updated: 12 January 2022 2:00 PM by 5Paisa

Rolex Rings Ltd is launching its Initial Public Offering in July 2021. The IPO will be open for bidding since 28th July 2021 and investors can apply for subscriptions till 30th July 2021. 

Fresh Issue of Equity Shares aggregating upto ₹ 56 Crore and Offer for sale of upto 7,500,000 Equity Shares.
The Company proposes to utilise the Net Proceeds towards the following objects:

1.    Funding long-term working capital requirements 
2.    General corporate purposes

Rolex Rings Shareholding Pattern

Rolex Rings Limited (RRL) is one of the top five forging companies in India in terms of installed capacity (Source: ICRA Report) and a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components for segments of vehicles including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles), industrial machinery, wind turbines, and railways, amongst other segments. The company supplies domestically and internationally to large marquee customers including some of the leading bearing manufacturing companies, tier-I suppliers to global auto companies and some auto OEMs. RRL is one of the key manufacturers of bearing rings in India (Source: ICRA Report) and caters to most of the leading bearing companies in India.

As per RHP, we have 22 forging lines with a combined installed capacity of 1,44,750 MTPA, machining facilities consisting of 528 spindles with a combined installed capacity of 69 million parts per annum and other machinery including heat treatment furnaces, cold rolling machines and other infrastructure.

The product portfolio includes a wide range of bearing rings, parts of gear box and automotive components, among others. For Fiscal 2021, RRL supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, United States of America and in European countries such as Germany, France, Italy, and Czech Republic, and Thailand. The company has maintained long standing relations with customers and 70% of 10 largest customers for Fiscal 2021 have been with the company for over a decade.

Rolex Rings - Financials