Initial Pupblic Offer - (IPO)
Rolex Rings Limited
Min. quantity - 16
Price range - ₹880 - ₹900 IPO Size - ₹731 Cr
Price range - ₹880 - ₹900
IPO Timeline
Application start28-07-2021
Company Details
Rolex Rings is a global automotive component manufacturer, based in Rajkot, Gujarat. The company manufactures hot-rolled forged and machined bearing rings and automotive parts, which are used in two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. It makes a diversified range of bearing rings—weighing from 0.01 kg to over 163 kg with an inner diameter of 25 mm to outer diameter of 900 mm—which are suitable for a wide range of end-users. The company has 60 customers in 17 countries, including India, and derives more than half of its revenues from overseas. Rolex Rings’ customers include some of the top global and domestic names such as SKF India, Schaeffler India, Timken India, NEI and NRB. Importantly, the company has forged a long-term relationship with its customers. It has been doing business with 7 of its 10 largest customers for over a decade now. Meanwhile, Rolex Rings has also managed to post healthy profit growth. Between FY19 and FY21, its net profit grew at a compounded annual growth rate (CAGR) of 21.3%.
The IPO size is ₹731 crore. Of which, the fresh issue is 56 crore. This will be used for funding long-term working capital requirements and general corporate purposes. The remaining ₹675 crore is an offer for sale from the promoters.
Glenmark Life Sciences Limited
Rolex Rings is a global automotive component manufacturer, based in Rajkot, Gujarat. The company manufactures hot-rolled forged and machined bearing rings and automotive parts, which are used in two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. It makes a diversified range of bearing rings—weighing from 0.01 kg to over 163 kg with an inner diameter of 25 mm to outer diameter of 900 mm—which are suitable for a wide range of end-users. The company has 60 customers in 17 countries, including India, and derives more than half of its revenues from overseas. Rolex Rings’ customers include some of the top global and domestic names such as SKF India, Schaeffler India, Timken India, NEI and NRB. Importantly, the company has forged a long-term relationship with its customers. It has been doing business with 7 of its 10 largest customers for over a decade now. Meanwhile, Rolex Rings has also managed to post healthy profit growth. Between FY19 and FY21, its net profit grew at a compounded annual growth rate (CAGR) of 21.3%.
The IPO size is ₹731 crore. Of which, the fresh issue is 56 crore. This will be used for funding long-term working capital requirements and general corporate purposes. The remaining ₹675 crore is an offer for sale from the promoters.
Price range - ₹695 - ₹720
IPO Timeline
Company details
About Glenmark Life Sciences Incorporated in 2011, Glenmark Life Sciences is a wholly-owned subsidiary of Glenmark Pharmaceuticals. It is a leading developer and manufacturer of active pharmaceutical ingredients (API) in chronic therapeutic areas including cardiovascular disease, central nervous system disease, pain management and diabetes. The company’s key business vertical is generic API, which contributes around 91% of the revenue. The remaining 9% of the revenue includes 8% from contract development and manufacturing operations (CDMO) to multinational and specialty pharma companies and 1% from other operating income. Headquartered in India, Glenmark Life Sciences has a diversified portfolio of products and customers. The company has developed 120 molecules, which it sells in India, Europe, Latin America, North America, Japan and the rest of the world. Of the 20 largest generic pharma companies in the world, 16 are customers of Glenmark Life Sciences. This has helped the company deliver strong financial performance over the years. The company’s revenue and net profit have grown at a CAGR of 45% and 34%, respectively, during FY19–21.
The IPO size is 1,513 crore. Of which, the fresh issue is ₹1,060 crore. The funds will be used for the payment of outstanding purchase consideration to Glenmark Pharmaceuticals for the spin-off of the API business as well as funding capex and general corporate purpose. The remaining ₹453 crore will be the offer for sale.
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