Rolex Rings gets SEBI nod to launch IPO
PTI
New Delhi |
Updated on
June 01, 2021
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Share sale to consist of fresh issue of shares worth ₹70 cr and OFS of up to 65 lakh shares by Rivendell PE LLC
Auto components maker Rolex Rings has received capital markets regulator SEBI’s approval to float an initial public offer (IPO). Rolex Rings’ IPO comprises fresh issue of shares worth ₹70 crore and an offer-for-sale of up to 65 lakh equity stocks by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC), according to its draft red herring prospectus (DRHP). Currently, Rivendell holds 45.51 per cent stake in Rolex Rings.