Rolex Rings Ltd IPO Date, Price Band, Market Lot, Allotment & Listing details

Rolex Rings Ltd. IPO open in the market for Subscription as on 28th July 2021 and closes on 30th July 2021. The company plan to raise Rs. 731 crores from market via initial public offer with price band  of Rs. 880 to 900 per equity share.

About Rolex Rings Ltd.

Where innovation, precision and revolution drives motion engineering towards excellence, every rising day! That’s how the world of automotive focus on Rolex Rings.

Based at Rajkot (Gujarat) India, Rolex Rings is among the leading manufacturers of forged and machined components in India. It is an ace development partner manufacturing high-quality, world-class, customized automotive components as well as bearing rings for a huge base of clientele spread across the globe. Having expertise in precision engineering of various Forging and machining over a period of 4 decades. Rolex has garnered a wealth of expertise in manufacturing transmission components, engine components, chassis components, exhaust system components and bearing rings.

With an unabated commitment to Quality, focused on Technology Advancements, thrust on Customized Solutions and power of Superior Engineering Capabilities. Rolex has sustained a great success saga as a leading national player. And, it envisages evolving as a leading global player in the years to come.

The company has three manufacturing units in Rajkot and has 22 forging lines with a combined installed capacity of 1,44,750 MTPA, machining facilities consisting of 508 spindles with a combined installed capacity of 66 million parts per annum and other machinery including heat treatment furnaces, cold rolling machines and other infrastructure.

Rolex started its journey in manufacturing various types of rings for ball bearing, tapered, cylindrical, railway bearing components, spacers with additional operations like drilling, milling and marking. Our earnest endeavour is to provide the most perfect products, customized to the client’s requirements. Further, we excelled and increased our production capacity to 145K MT per annum & have a achieved leading position in manufacturing forged and machining components across the globe. Over a Period of 4 decades. Today, Rolex is known for relentlessly setting new and higher benchmarks for the industry in the areas of forging and machining.

Company Promoters:

Rupesh Dayashankar Madeka, Jiten Dayashankar Madeka, Manesh Dayashankar Madeka, Pinakin Dayashankar Madeka and Bhautik Dayashankar Madeka are promoters of the company.

Rolex Rings Ltd IPO Date, Price Band, Market Lot, Allotment & Listing details:

IPO Open	28th July 2021
IPO Close	30th July 2021
IPO Size	Rs.731 Crores
Fresh Issue	Rs.56 Crores
Offer for Sale	Rs.675 Crores, 75 lacs Share
Face Value	Rs.10 Per Equity Share
Price Band	Rs.880 to Rs.900 Per Share
Listing on	BSE & NSE
Registrar	LinkInTime
Retail Quota & Lots	35% -  1,77,674 Lots
Employee Disc	Rs. 0.00 per share
Total Share Issue	Shares
Minimum Lot Size	Mini. 16 Shares -  1 Lots
Minimum Amount	Rs. 14,400/-
Maximum Lot Size	Maxi. – 208 Shares – 13 Lots
Maximum Amount	Rs.1,87,200/-
Basis of Allotment	4th August 2021
Refunds	5th August 2021
Credit to Demat A/c	6th August 2021
Listing Date	9th August 2021

Company Audited Financials Summery:

Summary of financial Information (Restated Consolidated)

Rs. in Crores
	FY2018	FY2019	FY2020	H1 FY2021
Revenue	791.5	911.3	675.3	225.5
Expenses	697.5	770.7	603.2	210.9
Net income	72.9	59	52.8	25.7
NI Ratio (%)	9.21%	6.47%	7.82%	11.40%
EPS	30.39	24.62	22.08	10.56

Objectives of the IPO:

The Net proceeds of IPO will be utilized for the following purposes;

• Funding long-term working capital requirements.

• General corporate purposes.

Company Contact Information

Rolex Rings Limited
Near Kotharia Railway Crossing, opposite Hotel Krishna Park,
Gondal Road, Kotharia, Rajkot, Gujarat 360 004
Phone: +91 0281 6699677/577
Email: compliance@rolexrings.com
Website: www.rolexrings.com

IPO Registrar

Link Intime India Private Limited
C-101, 1st Floor, 247 Park Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: rolex.ipo@linkintime.co.in
Website: http://www.linkintime.co.in


FAQs on Rolex Rings IPO

When Rolex Rings IPO will open for retail Investors?
The IPO is to open for subscription on 28th July 2021 for all type Investors.

What is Rolex Rings IPO Investors Quota?
The investors' Quota for QIB 50%, NII 15%, and Retail 35%.

What is Rolex Rings IPO Size for retail?
Rolex Rings IPO size is Rs.731 crores and for retail is Rs.256 crores.

What is Rolex Rings IPO offer Price ?
Rolex Rings IPO offer Price is Rs.880 to Rs.900.

What is Rolex Rings IPO Minimum Lot Size?
The minimum order quantity is 16 Shares with Rs.14,400.

What is Rolex Rings IPO Allotment Date?
Rolex Rings IPO allotment date is 4th August 2021.

What is Rolex Rings IPO Listing Date?
Rolex Rings IPO listing on NSE & BSE as on 9th August 2021.

How to Apply IPO Application?
You can fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the your Broker app or website.

You can apply IPO by following ways :

1. You can apply any IPO via netbanking of your bank account login in that you will ASBA online service available and in that menu you will see the IPO name in which you want to apply, click in apply button. Enter the your demate A/c details, Quantity and price. click on submit IPO Application.
2. You can also apply ASBA online by UPI through your stock brokers/ mobile application. For that You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
3. You can also apply through your stock brokers by filling up the physical/offline form.

How to check IPO Allotment Status ?

1. Go to on IPO allotment link - 
2. Select IPO Name from drop down menu bar from list of IPO
3. Select any one Option from PAN Number, Application Number or DP ID Option
4. As per selection Enter PAN Number, Application Number or DP ID Option
5. Click on 'Search' Button
6. You will get your IPO Allotment on the screen (Phone / Computer).

Glenmark Life Sciences Ltd IPO Date & Price Band, Market Lot, Allotment & Listing details

Glenmark Life Sciences Ltd. IPO open in the market for Subscription as on 27th July 2021 and closes on 29th July 2021. The company plan to raise Rs. 1513.60 crores from market via initial public offer with price band  of Rs. 695 to 720 per equity share.

About Glenmark Life Sciences Ltd.

Glenmark Life Sciences Ltd.is a leading developer and manufacturer of Active Pharmaceutical Ingredients (APIs).

Company are in the business of making high-quality drugs by unlocking the possibilities of science. Over the years, Company have established strong relationships with leading global generic pharmaceutical companies that have helped us expand our product offerings and geographic reach. We work with 16 of the 20 largest generic companies globally. 

With 120 APIs in our portfolio, we are blending innovation and operational excellence to deliver on the promise of service, reliability, and consistent product quality.

Powered by our massive, world-class manufacturing and research capabilities, we supply high-quality APIs to more than 540 pharma companies in multiple countries.

We are a research and development (R&D)-driven API manufacturer, focused on undertaking dedicated R&D in our existing products and in areas where we believe there is growth potential in the future. We believe that maintaining high standards of process innovation and quality in our R&D and manufacturing operations is critical to our brand and to developing long-term relationships with our customers.

We have steadily built scale in our product offerings and reach, leveraging state-of-the-art laboratories and manufacturing locations. GLS partners with 16 of the top 20 generic companies in the world (source: A Year of Surprises Shakes Up Off-Patent Industry" | Informa, 2020) and serves customers in multiple regions, including North America, Europe, Japan, Latin America, India and ROW.

We place strong emphasis on customer experience, and our local presence in markets like North America, United Kingdom and Latin America helps us understand customers' requirements.

Company Promoters:

Glenmark Pharmaceuticals Limited is the promoter of the company.

Also Read : Latest IPO Grey Market Premium

Glenmark Life Sciences Ltd IPO Date & Price Band, Market Lot, Allotment & Listing details:

IPO Open	27th July 2021
IPO Close	29th July 2021
IPO Size	Rs.1513.60 Crores
Fresh Issue	Rs.1060 Crores
Offer for Sale	Rs.453.60 Crores, 63 lacs Share
Face Value	Rs.2 Per Equity Share
Price Band	Rs.695 to Rs.720 Per Share
Listing on	BSE & NSE
Retail Quota & Lots	35% -  3,67,888 Lots
Employee Disc	Rs. - per share
Total Share Issue	2,10,22,222 Shares
Minimum Lot Size	Mini. 20 Shares -  1 Lots
Minimum Amount	Rs. 14,400/-
Maximum Lot Size	Maxi. – 260 Shares – 13 Lots
Maximum Amount	Rs.1,87,200/-
Basis of Allotment	3rd August 2021
Refunds	4th August 2021
Credit to Demat A/c	5th August 2021
Listing Date	6th August 2021

Company Audited Financials Summery:

Summary of financial Information (Restated Consolidated)

Rs. in Crores
	FY2018	FY2019	FY2020	FY2021
Revenue	1202.2	1405.5	1549.3	1886.0
Expenses	892.8	1001.7	1128.2	1415.0
Net income	229.5	293.5	313.6	351.1
NI Ratio (%)	19.1%	20.9%	20.2%	18.6%
EPS	-	24.64	29.04	32.61

Objectives of the IPO:

The Net proceeds of IPO will be utilized for the following purposes;

• To make payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into the company.
• To finance capital expenditure requirements.
• To meet general corporate purposes.

Company Contact Information

Glenmark Life Sciences Limited
Plot No. 170-172, Chandramouli Industrial Estate,
Mohol Bazarpeth, Solapur 413 213,
Phone: +91 2189 234456/ +91 2189
Email: complianceofficer@glenmarklifesciences.com
Website: http://www.glenmarklifesciences.com/

IPO Registrar

KFintech Private Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: glenmark.ipo@kfintech.com
Website: https://karisma.kfintech.com/

FAQs on Glenmark Life Sciences IPO

When Glenmark Life Sciences IPO will open for retail Investors?
The IPO is to open for subscription on 27th July 2021 for all type Investors.

What is Glenmark Life Sciences IPO Investors Quota?
The investors' Quota for QIB 50%, NII 15%, and Retail 35%.

What is Glenmark Life Sciences IPO Size for retail?
Glenmark Life Sciences IPO size is Rs.1513.60 crores and for retail is Rs.530 crores.

What is Glenmark Life Sciences IPO offer Price ?
Glenmark Life Sciences IPO offer Price is Rs.695 to Rs.720.

What is Glenmark Life Sciences IPO Minimum Lot Size?
The minimum order quantity is 20 Shares with Rs.14,400.

What is Glenmark Life Sciences IPO Allotment Date?
Glenmark Life Sciences IPO allotment date is 3rd August 2021.

What is Glenmark Life Sciences IPO Listing Date?
Glenmark Life Sciences IPO listing on NSE & BSE as on 6th August 2021.


How to Apply IPO Application?
You can fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the your Broker app or website.

You can apply IPO by following ways :

1. You can apply any IPO via netbanking of your bank account login in that you will ASBA online service available and in that menu you will see the IPO name in which you want to apply, click in apply button. Enter the your demate A/c details, Quantity and price. click on submit IPO Application.
2. You can also apply ASBA online by UPI through your stock brokers/ mobile application. For that You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
3. You can also apply through your stock brokers by filling up the physical/offline form.

How to check IPO Allotment Status ?

1. Go to on IPO allotment link - https://kcas.kfintech.com/ipostatus/
2. Select IPO Name from drop down menu bar from list of IPO
3. Select any one Option from PAN Number, Application Number or DP ID Option
4. As per selection Enter PAN Number, Application Number or DP ID Option
5. Click on 'Search' Button
6. You will get your IPO Allotment on the screen (Phone / Computer).

FAQs on ITC of Mobile, Fridge, AC, Camara and Rules of Reversal

Q1. Whether ITC can be availed on mobile phone, fridge, AC etc. in the name of firm?

Ans. As per section 16, every registered person shall, subject to such conditions and restrictions as may be prescribed and, in the manner, specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person.

                         
In the given case, if the mobile phone, fridge, AC, etc. are purchased by the firm in its name and these are used by the partners and/ or employees of the firm in the course or furtherance of business of the firm, the firm can claim the ITC.

Q2.Whether GST paid voluntarily in TR-6 challan in relation to import bill of entry is available as ITC?

Ans. Section 16(2)(a) mandates that to avail ITC, one must have possession of tax invoice/debit note issued by supplier or any other document as may be prescribed. Further, rule 36 talks about “Documentary requirements and conditions for claiming input tax credit”. Clause (d) of sub-rule (1) of rule 36 states: “a bill of entry or any similar document prescribed under the Customs Act, 1962 or rules made thereunder for the assessment of integrated tax on imports”.

Therefore, if IGST is paid voluntarily in TR-6 challan in relation to imports, then credit will be available as per clause (a) of section 16(2).

Q3. ITC of GST cannot be availed in excess of 105% of eligible ITC populated in Form GSTR-2B in terms of rule 36(4) as amended vide Notification No. 94/2020- Central Tax, dated 22-12-2020. In some cases, ITC of goods populates in one-month (let’s say April) in Form GSTR-2B, and actual delivery of the goods occurs in subsequent month (let’s say May). Due to this full benefit of ITC cannot be claimed because of ceiling of 105%.

a) Please suggest how to avail ITC in this case?

b) Please clarify, whether the condition of 105% is for a month or for the accumulated balance in Form GSTR-2B (like for example April month unclaimed ITC plus ITC for the month of May)?

c) Also clarify, whether the clarification/ procedure specified in Circular No. 123/42/2019 GST dated 11-09-2019 can be applied to Form GSTR- 2B as well.

Ans. A) You can avail ITC only upon receipt of goods or services or both. Further, ad hoc 5% ITC is available only in cases where invoices with eligible ITC are not uploaded by the supplier and such 105% cannot exceed the total eligible ITC. Thus, availing of 5% of ITC in April month itself is incorrect.

B) Since you had received the goods in the month of May, you shall avail the credit only in the month of May. Certainly, there will be a mismatch between the values as per Form GSTR-2B and the ITC claimed in Form GSTR-3B. The colour of the particular ITC field in Form GSTR-3B will also turn to red. However, this is the correct procedure.

C) In case, you get an intimation from the Department asking why you have claimed in excess, then you will be able to substantiate and explain the position as under:

The said invoice is already reflected in Form GSTR-2B of April month and further, while comparing the ITC of April month that you have availed in Form GSTR-3B and the amount in Form GSTR-2B, it will be evident that, you had not availed the credit of that particular invoice for the reason that, you had not received the goods in the same month. In compliance with section 16(2)(b), you have availed the credit only upon receipt of the said goods and hence, the amount is showing excess of Form GSTR-2B.


Q4. Whether ITC can be claimed if depreciation availed on capital goods is reversed later on?

Ans. 1. Yes, provided the revised income tax return wherein depreciation earlier availed on tax component of capital goods has been reversed, is filed within the time limit allowed under section 16(4) for claiming ITC.

2. Section 16(3) provides that where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income Tax Act, 1961, ITC on the said tax component shall not be allowed.

Further, section 16(4) provides that a registered person shall not be entitled to ITC in respect of any invoice or debit note for supply of goods/services after the due date of furnishing the return under section 39 for the month of September following the end of the financial year to which such invoice or debit note pertains or furnishing of the relevant annual return, whichever is earlier.

Thus, broadly speaking, the time limit for claiming ITC is 20th October following the end of the financial year, unless the registered person has furnished his annual return for the year before 20th October, in which case the time limit for claiming ITC would be restricted to that date.

3. The claim for depreciation including that on tax element will be made through income tax return which would be filed after the end of the financial year. Any revision in the income tax return reversing such claim in respect of depreciation on tax component will have to be done by filing revised income tax return. The time limit for filing revised return would normally be beyond the time limit as mentioned earlier under GST Law for claiming ITC. If such a revised income tax return is filed before the time limit for claiming the ITC, the registered person can claim ITC and not otherwise as the last date for claiming ITC would then be over. There is no specific requirement for ITC that the claim for depreciation on tax element cannot be revised but such revision has to be done by properly filing the revised income tax return in time for claiming ITC, and then there would be no bar on ITC claim.

Q5. When camera and other things become old and are sold at cheaper rates, whether full ITC is available?

Ans. There is no necessity to reverse the entire ITC taken. The sale of old assets when ITC has been availed on such assets at the time of purchase is treated as supply even if made without consideration in terms of Schedule I to section 7.

Section 18(6) states method for reversal of ITC in respect of capital goods or plant and machinery on which ITC has already been taken.

The said section covers the situation wherein capital goods are being sold after use and it stipulates that in such cases amount payable by the supplier has to be either:

• ITC as reduced by percentage points as per the method specified in the relevant rule, or

• Tax on transaction value,

whichever is higher.

Transaction value at the time of sale has to be determined as per section 15.