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Rolex Rings Ltd made its debut on the bourses today, August 9, with nearly 40 per cent gains.
On the BSE, it opened at ₹1,249 with a 38.78 per cent premium, up ₹349 against the IPO price of ₹900.
After hitting a high of ₹1,264.95 at 10:02 am, the stock was trading at ₹1,200, up ₹300 or 33.33 per cent over the issue price
It opened at ₹1,250 on the NSE, up ₹350 or 38.89 per cent over the issue price.
The initial public offering of the auto components maker Rolex Rings was subscribed 130.43 times.
The offer came in a price range of ₹880-900 per share. The category reserved for qualified institutional buyers (QIBs) was subscribed 143.58 times, while those for non-institutional investors 360 times and retail individual investors (RIIs) 24.49 times. The IPO comprises a fresh issue of up to ₹56 crore and an offer for sale of up to 75 lakh equity shares.
Ahead of the issue, the company on Tuesday garnered a little over ₹219 crore from anchor investors.
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