Rolex Rings, an auto parts maker, has filed preliminary papers with capital markets regulator Securities and Alternate Board of India (Sebi) to launch an preliminary public providing. Rolex Rings’ market providing will include a contemporary situation of shares price Rs 70 crore and a proposal on the market of as much as 65 lakh shares by Rivendell PE (previously often called NSR-PE Mauritius), in accordance with the draft crimson herring prospectus filed with the market regulator.
The auto part maker will use the IPO proceeds to fund its long-term working capital necessities and for common company functions. The fairness shares are more likely to be listed on the BSE and NSE.
Rolex Rings is based mostly at Rajkot in Gujarat and is among the many main producers of solid and machined parts within the nation.
Equirus Capital Non-public Ltd, IDBI Capital Markets & Securities and JM Monetary are the service provider bankers to the difficulty.