The IPOs of two giant companies that make pharmaceutical and machined components are about to enter the market. With this, investors can get a good opportunity to earn profits.
These IPOs will knock in the market
As soon as the stock market opens on Monday, IPOs of two giant companies are going to be launched in the market this week. These include Glenmark Life Sciences and Rolex Rings. Both these companies will enter both NSE and BSE. As per the tentative dates of these two upcoming IPOs, Glenmark Life Sciences IPO may open for bidding on July 27. While the IPO of Rolex Rings is expected to open for bidding from 28 July 2021.
According to market observers, Glenmark Life Sciences IPO GMP and Rolex Rings IPO GMP have already started scalping ahead of their membership opening date. Gelnmark Life Sciences IPO will open for subscription on 27 July 2021 and will be open till 29 July 2021. At the same time, Rolex Rings will be open for subscription from July 28 to July 30.
what will be the price
The price of Glenmark Life Sciences IPO has been kept at Rs 695 to 720 per share. For common investors, one lot is of 20 shares, for which you will have to spend Rs 14,400. You can bid for a maximum of 13 lots i.e. 300 shares. On the other hand, Rolex Rings IPO GMP has increased from ₹500 to ₹580, which is ₹80 up from yesterday’s share price in the gray market.
characteristics of companies
Rolex Rings is a company based in Rajkot, Gujarat. Rolex Rings is one of the largest companies in the country in manufacturing these forged and machined components. The company has made a profit of Rs 25.31 crore in the 6 months ended September 2020. While the company’s income is Rs 224.52 crore. Rolex Rings had a profit of Rs 52.94 crore in the fiscal year ended 31 March 2020.
Glenmark Life Sciences is a subsidiary of Glenmark Pharma. This company makes special chemicals and raw materials to make medicines. Apart from India, this company also supplies to America and Japan. Whatever money the company will raise through the IPO, some part of it will be used to increase the production of both the plants. As of March 31 of this year, the company’s revenue was 1537 crores, while the net profit has been 314 crores.
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