Rolex Rings IPO Subscription Day-3

5paisa Research Team 5paisa Research Team 4th April 2022 - 11:46 am

The Rs.731 crore Rolex Rings IPO, consisting of Rs.56 crore fresh issue and Rs.675 crore OFS, got a phenomenal response on Day-3. As per the combined bid details put out by the BSE, Rolex Rings IPO was subscribed 130.43X overall, with the bulk of the demand coming from HNIs followed by QIBs. Retail flows only built marginally on the last day.

At close on 30 July, out of 56.86 lakh shares on offer in the IPO, Rolex Rings saw applications for 7,415.77 lakh shares. This implies an overall subscription of 130.44X. The granular break-up was tilted in favour of the HNI applicants followed by the QIBs.

Rolex Rings IPO Subscription Status

Category	Subscription Status
Qualified Institutional (QIB)	143.58 Times
Non-Institutional (NII)	360.11 Times
Retail Individual	24.49 Times
Total	130.44 Times

The QIB portion saw a phenomenal response on Day-3 of the IPO. As of the close of bidding, out of the 16.24 lakh residual shares on offer for QIBs after removing the anchor portion, Rolex Rings saw QIB applications for 2,332.35 lakh shares, implying a subscription of 143.58X.

The HNI portion got subscribed 360.11X (getting applications for 4,387.39 lakh shares against the quota of 12.18 lakh shares). The IPO saw a deluge of corporate applications and funding applications on the last day, boosting the final tally of subscriptions.

The retail portion was already subscribed 15.88 times on Day-2 and built up to 24.49X on the last day. Normally, the retail appetite tends to be pronounced on the first 2 days with HNIs and QIBs lining up on the last day. Among retail investors; out of the 28.43 lakh shares on offer, valid bids were received for 696.02 lakh shares, of which bids for 547.36 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.880-Rs.900) and the final price discovery is now likely to happen at the upper end of the band.