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Rolex Rings IPO share allotment next week: How to check status

After the finalisation of share allotment, funds will be refunded to ineligible investors on August 5, and equity shares will be credited to the demat accounts of eligible investors on August 6.

August 01, 2021 / 03:05 PM IST
 
 
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After successfully closing its initial public offering (IPO) last week, Rolex Rings will finalise the basis of share allotment on August 4.

Here's how you can check the status:

The IPO share allocation can be checked on the BSE's websiteSelect Equity and Issue Name (Rolex Rings Limited); enter Application Number and PAN Number; click on the Search button to know the application status.

Alternatively, you can also check the allotment status on the IPO register's website by following a few easy steps. Investors have to first select either PAN, Application Number or DP Client ID; select company name (Rolex Rings Limited - IPO); enter either PAN Number, Application Number or DP Client ID; click on the Search button to know whether the shares were allotted to you or not.

After the finalisation of share allotment, funds will be refunded to ineligible investors on August 5, and equity shares will be credited to the demat accounts of eligible investors on August 6. Meanwhile, trading in equity shares will commence from August 9.

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The Rs 731 crore public offer received a stellar response from investors as it was subscribed 130.44 times during July 28-30. This was the fifth-highest subscription seen by any IPO in 2021 after MTAR Technologies, Tatva Chintan Pharma Chem, Nazara Technologies and Easy Trip Planners.

The reserved portion of qualified institutional buyers was subscribed 143.58 times and that of non-institutional investors 360.11 times, while the portion set aside for retail investors saw a subscription of 24.49 times.

The offer comprised of a fresh issue of Rs 56 crore and an offer for sale of Rs 675 crore by Rivendell PE LLC. The company will utilise net proceeds from fresh issue for working capital requirements.

Currently, the equity shares of Rolex Rings are trading at a premium of Rs 530-550 in the grey market at Rs 1,430-1,450 per share, the IPO Watch and IPO Central data showed. This equates to a 59-61 percent upside over the expected final IPO price of Rs 900 per share.

 
Moneycontrol News
first published: Aug 1, 2021 03:00 pm

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