Rolex Rings Ltd has fixed its initial public offering (IPO) price at Rs 880-900 per share. Previously the firm said that issue will open on 28 July and close on 30 July. The IPO comprises a fresh issue of Rs 56 crore and an offer for sale of Rs 750 crore by Rivendell PE. Rivendell PE (formerly known as New Silk Route-PE Mauritius) currently holds a 41.01 per cent stake in the company.

Equirus Capital, IDBI Capital, and JM Financial are the book lead managers on the issue.
Based in Rajkot, Gujarat, Rolex Rings is among the leading manufacturers of forged and machined components in the country.

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The company will utilize the net proceeds from the fresh issue for funding long-term working capital requirements; and general corporate purposes. As of March 2021, the company has posted a profit of Rs 86.96 crore compared to Rs 52.94 crore a year ago. Its revenue from operations stood at Rs 616.33 crore versus Rs 675.33 crore last year.