Rolex Rings IPO - Strong Outlook, Healthy Balance Sheet Offer Comfort: Reliance Securities
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Reliance Securities' IPO Report
Rolex Rings Ltd., incorporated in 2003, is one of the top five forging companies in India.
The company manufactures hot rolled forged/machine bearing rings and automotive components, which are used across segments i.e. passenger vehicles, two-wheelers, commercial vehicles, electric vehicles, off-highway vehicles, industrial machinery, wind turbines and railways etc.
As on FY21, Rolex Rings supplied bearing rings and automotive components to more 60 customers in 17 countries, primarily located in India, the U.S., Europe and Thailand.
Currently, the company has three manufacturing plants in Rajkot with 22 forging lines and an aggregated installed capacity of 1,44,750 million tonnes per annum.
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