Rolex Rings amassed Rs 219.3 crore through bank investors, before IPO opens

Rolex Rings, one of the five leading companies in India, raised $ 219.3 million from 26 investors on July 27, ahead of the opening of the IPO.

The donation will open for registration on July 28, and will close on July 30.

The company, in consultation with retailer banks, has completed the allocation of 24,36,666 shares in shares to investors, Rolex Rings said in his BSE filing on July 27.

More than 24.36 shares of lakh equity were issued to investors at a cost of Rs 900 per share, which is a high price band.

Marquee investors who participated in the anchor work were Invesco Mutual Fund, Matthews Asia Funds, and HSBC Global Investment Funds.

Also read : Institutional buyers deposit Rs 870 crore bid for HUDCO stock exchange
Local investors including HDFC Trustee, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life, SBI Mutual Fund, Kotak Mutual Fund, L&T Mutual Fund and Nippon Life India also received shares in the anchor letter.
Rolex Rings plans to raise 731 rupees for its IPO which contains a new release of Rs 56 and a promise to sell 75 lakh shares by Rivendell PE LLC.
The company will use the total revenue generated from the new case to meet operating costs.

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