Rolex Rings prices IPO between Rs 880-900 per share; issue opens July 28

Rolex Rings has priced its initial public offer (IPO) between Rs 880 to Rs900 per share. The offer will open on Wednesday and conclude on Friday.  Investors can bid for a lot of 16 shares and in multiples of 16 shares.

The offer comprises a fresh issue of Rs 56 crore and an offer for sale of shares worth Rs 675 crore. At the upper end of the price band, Rolex Rings will have a market cap of Rs 2,451 crore.

The promoter holding in the company will decline from 59 per cent to 57.64 per cent following the IPO.