The initial public offering of Rolex Rings, one of the top five forging companies in India, is subscribed 1.28 times on July 28, the first day of bidding. This is the 30th public issue in 2021.
Investors have put in bids for 72.79 lakh equity shares against offer size of 56.85 lakh equity shares, the subscription data available on the exchanges showed.
Retail investors seem bullish as their reserved portion is subscribed 2.47 times and that of non-institutional investors is at 21 percent. Qualified institutional buyers are yet to put in their bids.
News Source:- Moneycontrol