IPO update: Rolex Rings

Rolex Rings came out with its IPO about two months ago. Value Research's analysis of the IPO can be found here. This follow-up article focuses on the IPO's performance, post-IPO events, and changes in its valuation since then. Our analysis of the IPO We gave a score of 16 out of 28 to this bearing rings manufacturer when it came out with its IPO. Over the last four decades, Rolex Rings has developed expertise in the precision engineering of various forged and machined components. It has garnered a wealth of knowledge in manufacturing transmission components, engine components, chassis components, exhaust system components, and bearing rings. Other than forging, the company offers value-added processes until the level of final machining and grinding equipment. In the Indian bearing industry, there are five main players (bearing manufacturers) who make up for about 80 per cent of the domestic market. These five manufacturers have been customers of Rolex for the last 10-15 years. Being situated in Gujarat, the company e