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Rolex Rings IPO fully subscribed within hours of opening, should you bid for the share sale?

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Rolex Rings IPO fully subscribed within hours of opening, should you bid for the share sale?

The initial public offer (IPO) of auto components maker Rolex Rings was fully subscribed within hours of opening on Wednesday. The IPO received bids for 63. 47 lakh shares against issue size of 56. 85 lakh shares, amounting to 1.12 times subscription, according to data available with NSE till 11:25 am. The category for non-institutional investors was subscribed 7 per cent, while that reserved for retail individual investors (RIIs) was subscribed 2.20 times.

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Rolex Rings IPO fully subscribed within hours of opening, should you bid for the share sale?

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Rolex Rings IPO fully subscribed within hours of opening, should you bid for the share sale?

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