Rolex Rings receives Sebi approval to go ahead with IPO plans
Auto components maker Rolex Rings has received capital markets regulator Sebi’s approval to float an initial public offer (IPO).
Rolex Rings’ IPO comprises fresh issue of shares worth Rs 70 crore and an offer for sale of up to 65 lakh equity stocks by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC), according to draft red herring prospectus (DRHP).
Currently, Rivendell holds 45.51 percent stake in Rolex Rings. The auto component maker, which filed its preliminary papers for IPO with the…
