Rolex Rings shares may debut with decent listing gains, say experts

Rolex Rings IPO: With markets and sentiments both being at all time high, Rolex Rings is expected to make a great performance on its debut with decent listing gains, say experts. Photo: Courtesy Rolex Rings website

2 min read . Updated: 09 Aug 2021, 05:37 AM IST Asit Manohar

Rolex Rings IPO GMP today is ₹400, which is around 45 per cent higher from its issue price band of ₹880 to ₹900

Rolex Rings IPO listing date: Shares of Rolex Rings is going to list today at Indian bourses. It will be listed at both NSE and BSE and stock market experts are expecting decent listing gains for the successful bidders. They said that Rolex Rings shares may list at around 40 per cent premium predicting Rolex Rings IPO listing price around ₹1275 per equity shares to ₹1350 levels. However, they said that company financials suggest muted gains. The grey market is also suggesting stellar listing of the shares as Rolex Rings IPO GMP today is ₹400, which is around 45 per cent higher from its issue price band of ₹880 to ₹900.

Speaking on the possible listing gains from Rolex Rings IPO; Abhay Doshi, Founder at Unlisted Arena.com said, "With markets and sentiments both being at all time high, Rolex Rings is expected to make a great performance on its debut with decent listing gains despite muted growth in its financials. I expect it to debut with over 40 per cent gains i.e. the stock may list somewhere around ₹1275 to ₹1350 as per current the market scenario."

Highlighting the financials that indicates strong listing of Rolex Rings shares; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance said, "Rolex Rings shares are going to list at a P/E of 28.19 with a market cap of ₹2451 crore, while its peers namely Ramkrishna Forgings and MM Forgings are trading at a P/E of 123.30 and 37.14 respectively." This attractive valuation of the public issue attracted attention of IPO investors and Rolex Rings IPO got subscribed over 130 times.

What grey market is signaling?

The grey market is also signaling strong debut of Rolex Rings shares as Rolex Rings grey market premium today is ₹400 that means grey market is expecting Rolex Rings IPO listing around ₹1300 ( ₹900 + ₹400) — around 45 per cent higher from its issue price.

So, both fundamental and grey market are signaling stellar debut of Rolex Rings shares today at the Indian bourses.

Let's see whether these signals remain a mere signal only or it becomes a reality today.

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