Rolex Rings makes strong debut, lists at 39% premium over issue price
Getty ImagesRolex is among the top five forging companies in India.
RelatedCrowding of IPOs cuts grey market premia; listing candidates lose mostIPO frenzy: Investors pour in Rs 1.71 lakh crore into four issuesGlenmark Life Sciences lists at 4% premium over issue price
NEW DELHI: Shares of Rolex Rings made a strong market debut on Monday, as the scrip got listed at Rs 1,250 on NSE, a 38.89 per cent premium over its issue price of Rs 540.
On BSE, the scrip debuted at Rs 1,249, up 38.78 per cent.
Last heard, the Rs 731-crore IPO which was subscribed fully within minutes of opening, was commanding a premium of Rs 390-Rs 400 in the grey market.
Rolex is among the top five forging companies in India. The auto component maker manufactures and supplies hot rolled forged and machined bearing rings globally and offers components for passenger vehicles, commercial vehicles, two-wheelers, off-highway vehicles, and electric vehicles. It also offers products in segments such as industrial machi...