Everybody talks about the upcoming Ipo but don’t I want to talk about IPO whose bidding got started from July 28,2021 and ended on July 30, 2021.The allotment for the share was done on 4 August,2021 and finally the share was listed on NSE and BSE on August 9,2021.
But many of you might me thinking why I am talking about Rolex Rings share in 2024.
So here the Intent is to provide you information about the company, what people were thinking about this IPO at the time of listing and the current status of that share because As I always say , to predict the future better ,you have to understand the past.
About company Rolex Rings
Before I go into the technical and fundamental details of the company , I would like to tell you about the products the company is selling.
Founded in 2003,Rolex Rings is among the top forging(making or shaping an object by heating) companies in India.
Here is the complete list of other forging companies in India.
There products include
Transmission components
- Gear Blanks
Now we know what products Rolex Rings is making but we also need to know where these products are used
- Two wheeler
- Three wheeler
- Railway
- Electrical
- Defence
- Aero space
- Power
and many more
Technical Details of Rolex Rings share
Before I dive into the technical analysis , I would like to tell you that minimum retail price with lot of 16 shares was Rs 14400 that means if you would have 38,672 or I say if you have invested approx 2 Lakh you might have got 5 Lakh in return and the IPO was just 24 times oversubscribed as compared to 300x in today’ s time.
During the IPO released date many analysists were suggesting semi strong .
Here is an example,
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Rolex Rings Ltd is likely to Rise in the short term.
so moral of the story,
While investing in IPO you have to clearly understand the Technical and fundamental ,but it is very important that you understand what products the company is selling and the future of those products in the market.
so that’s for today folks , we will talk about another stock again on next Friday.