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Rolex Rings mops up Rs 219.3 crore through anchor investors, ahead of IPO opening

Marquee investors participated in the anchor book were Invesco Mutual Fund, Matthews Asia Funds, and HSBC Global Investment Funds.

July 27, 2021 / 08:58 PM IST

Rolex Rings, one of the top five forging companies in India, has raised Rs 219.3 crore from 26 anchor investors on July 27, ahead of IPO opening.

The offer will open for subscription on July 28, and will close on July 30.

The company in consultation with merchant bankers, has finalised allocation of 24,36,666 equity shares to anchor investors, Rolex Rings said in its BSE filing on July 27.

More than 24.36 lakh equity shares were issued to anchor investors at a price of Rs 900 per share, the higher price band.

Marquee investors participated in the anchor book were Invesco Mutual Fund, Matthews Asia Funds, and HSBC Global Investment Funds.

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Domestic investors including HDFC Trustee, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life, SBI Mutual Fund, Kotak Mutual Fund, L&T Mutual Fund and Nippon Life India also received shares through anchor book.

Also read - Rolex Rings IPO | Grey market premium jumps 50% ahead of opening

Rolex Rings is planning to raise Rs 731 crore through its IPO that comprises a fresh issue of Rs 56 crore and an offer for sale of 75 lakh equity shares by Rivendell PE LLC.

The company will utilise net proceeds from the fresh issue towards working capital requirements.

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Moneycontrol News
first published: Jul 27, 2021 08:21 pm
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