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Rolex Rings public issuesubscribed over 130 times - The Hindu BusinessLine

Rolex Rings public issuesubscribed over 130 times - The Hindu BusinessLine
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Rolex Rings Ltd , Rolex Rings , ரோலக்ஸ் மோதிரங்கள் லிமிடெட் , ரோலக்ஸ் மோதிரங்கள் ,

Rolex Rings IPO: Rolex Rings IPO subscribed 4.5 times on Day 2 so far


The offer comprises fresh issue of Rs 56 crore and offer for sale of 75 lakh shares. Investors can bid in a multiple of 16 shares and multiples thereof. The issue is priced in the range of Rs 880-900.
Considering the FY21 adjusted EPS of Rs 31.93 on post-issue basis, the company is going to list at a PE of 28.19 with a market cap of Rs 2,451 crore, while its peers namely
Ramkrishna Forgings and MM Forgings are trading at a PE of 123.30 and 37.14, respectively.
Most analysts suggest subscribing to the issue. However, some say a degree of caution is needed.
“It is demanding EV/Sales of 4.3x, which is at premium to the peer average of 3.9x. The overall outlook for bearing rings and auto components industries remains positive. However, despite its presence in the lucrative industrials segment, the higher demanded valuation is a concern for investors. Thus, we assign a “Subscribe with Caution” rating for the issue,” said Choice Broking. ....

Rolex Rings , Timken India , ரோலக்ஸ் மோதிரங்கள் , திம்கென் இந்தியா ,