Rolex Rings shares made a strong debut on Dalal Street on Monday. On BSE, the stock was listed at Rs 1,249, marking a premium of 38.78 percent over the issue price of Rs 900.
On NSE, Rolex Rings shares opened at Rs 1,250 - a premium of 38.89 percent.
The IPO of Gujarat-based Rolex Rings, one of the leading forged and machined components manufacturers, was subscribed more than 130 times last month.
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According to exchange data, investors put in bids for 74.16 crore equity shares against the offer size of 56.85 lakh. The company had offered shares in the price band of Rs 880-900 apiece under the IPO.
The portion reserved of retail investors was subscribed 24.49 times. The quotas reserved for qualified institutional buyers and non-institutional investors saw a subscription of 143.58 times and 360.10 times respectively.
Also read: Rolex Rings IPO subscribed 130.44 times on final day
The Rs 731-crore IPO of auto parts maker Rolex Rings comprised fresh issuance of shares worth Rs 56 crore and an offer for sale (OFS) of shares worth Rs 675 crore by Rivendell PE LLC.
First Published: IST