Prefer Glenmark Life over Rolex Rings for the long-term: Vinit Bolinjar

The IPO frenzy is far from ebbing. Two more IPOs hit street to capture the high investor appetite. Glenmark Life Sciences IPO has opened for subscription today and Rolex Rings IPO opens tomorrow. We spoke to Vinit Bolinjkar of Ventura Securities to understand which way should investors look before investing.

“China + 1 is a very positive theme which has come India’s way. The API market share of India is expected to grow to 25 billion dollars in the next 5-6 years from the current 11 billion dollars. The roadmap is very strong. Glenmark Life is in a very sweet spot and the product profile they have is robust and have strong margins. The company is available at very cheap valuations compared to peers. Believe it is poised for re-rating.”

On Rolex Rings IPO which is set to open on July 28, he believes the company in the automotive forgings space is poised to capture opportunities in the electric vehicles space, however he believes only investors with a higher risk profile must go ahead with this one.

Glenmark Life Sciences, the subsidiary of Glenmark Pharma, has opened its IPO for subscription during July 27-29, with a price band of Rs 695-720 per share. The company is planning to raise Rs 1,513.6 crore through its public issue.

Automotive components manufacturer Rolex Rings will also open its offer on July 28 and will close on July 30, comprising a fresh issue of Rs 56 crore and an offer for sale of up to 75 lakh equity shares by Rivendell PE LLC.