Rolex Rings
IPO Size
`731 Cr
Price Band
`880-900 Per Share
Minimum Lot Size
16 Share
Face Value
`10 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
28 July, 21
Issue Close Date
30 July, 21
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
Rolex Rings is one of the top five forging companies in India in terms of installed capacity, a manufacturer and global supplier of hot rolled forged and machined bearing rings. The company manufactures automotive components for all segments of vehicles including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. The company supply 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. Rolex Rings is one of the key manufacturers of bearing rings in India and caters to most of the leading bearing companies in India.
The company started its manufacturing operations in 1988 and its product portfolio includes a wide range of bearing rings, parts of gear box and automotive components, among others. The company supplies 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. They have maintained long standing relations with customers and 70% of their 10 largest customers have been with them for over a decade.
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Promoters | 3 - Directors | |||
| Entity Name | By the Company | Against the Company | By the Promoters | Against the Promoters | By the Directors | Against the Directors |
| Criminal cases | - | - | - | - | - | - |
| Material civil cases | - | - | - | - | - | - |
| Taxation matters | - | 11 | - | 10 | - | 5 |
| Regulatory Procedings | - | - | - | - | - | - |
| Amt. (In Million Rs.) | - | 148.91 | - | Not Quantifiable | - | Not Quantifiable |
Financial Statements:
| Income Statement (In Millions) | FY21 | FY20 | FY19 | |
| Gross Operating Income | 6197.57 | 6753.32 | 9112.54 | |
| Cost of Employee & Inventory | 3392.98 | 3819.92 | 4947.36 | |
| Other Expenses | 1681.64 | 1625.64 | 2084.99 | |
| EBITDA | 1122.95 | 1307.76 | 2080.19 | |
| Depreciation | 254.09 | 265.24 | 254.40 | |
| Interest | 116.99 | 321.69 | 420.19 | |
| Profit Before Tax | 751.87 | 720.83 | 1405.60 | |
| Tax | -117.7 | 191.42 | 815.19 | |
| Profit After Tax | 869.57 | 529.41 | 590.41 | |
The promoters of the company are Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka, and Bhautik Dayashankar Madeka.
The company will face tough competition from Bharat Forge, Ramkrishna Forgings and MM Forgings.
The object of the Offer for Sale is to allow PE investor Rivendell LLC to sell an aggregate of up to 7.5 million equity Shares held by them amounting at Rs. 675 cr.
The company has planned to raise fresh capital comprising an aggregate of 6,22,222 equity shares having Face Value ₹10 aggregating up to Rs. 56 Cr at the upper price band of Rs. 900. Out of the net proceeds, an amount of Rs. 45 cr. will be utilized for funding long-term working capital requirements while rest will be utilized for general corporate purpose.