MUMBAI: Rolex Rings Ltd has fixed its initial public offering price at ₹880-900 a share. The IPO comprises a fresh issue of ₹56 crore and an offer for sale of ₹750 crore by Rivendell PE. Based in Rajkot, Gujarat, Rolex Rings is among the leading manufacturers of forged and machined components in the country. The company will utilize the net proceeds from the fresh issue for funding long-term working capital requirements; and general corporate purposes. Its revenue from operations stood at ₹616.33 crore versus ₹675.33 crore last year.

Source: Mint July 26, 2021 02:15 UTC