Rolex Rings will use the IPO proceeds to fund its long-term working capital necessities
Rolex Rings, an auto elements maker, has filed preliminary papers with capital markets regulator Securities and Alternate Board of India (Sebi) to launch an preliminary public providing. Rolex Rings’ market providing will include a contemporary difficulty of shares value Rs 70 crore and a suggestion on the market of as much as 65 lakh shares by Rivendell PE (previously often called NSR-PE Mauritius), based on the draft purple herring prospectus filed with the market regulator.
The auto part maker will use the IPO proceeds to fund its long-term working capital necessities and for normal company functions. The fairness shares are more likely to be listed on the BSE and NSE.
Rolex Rings is primarily based at Rajkot in Gujarat and is among the many main producers of solid and machined elements within the nation.
Equirus Capital Non-public Ltd, IDBI Capital Markets & Securities and JM Monetary are the service provider bankers to the difficulty.