Rolex Rings secures approval for ₹1,800 million buyback
Rolex Rings Limited has secured shareholder approval to buy back up to 10,000,000 fully paid-up equity shares at ₹180 per share, totaling ₹1,800 million. The buyback, approved via postal ballot on June 02, 2026, represents 3.67% of the total paid-up equity share capital and is funded through internal resources.
*this image is generated using AI for illustrative purposes only.
Rolex Rings Limited has secured shareholder approval to buy back up to 10,000,000 fully paid-up equity shares at a price of ₹180 per share, aggregating to ₹1,800 million. The buyback, approved by the board on April 23, 2026, and by shareholders via a postal ballot on June 02, 2026, represents 3.67% of the company's total paid-up equity share capital. The offer size constitutes 20.43% of the aggregate of the company's fully paid-up equity share capital and free reserves, adjusted by ₹1,772.60 million as per the audited financial statements as on March 31, 2025.
The company stated that the buyback will be funded out of current surplus, cash balances, or internal resources and not from borrowed funds. The offer is being conducted on a proportionate basis through the tender offer route. The buyback price represents a premium of 41.97% over the volume weighted average market price of the Equity Shares on the NSE for the 60 trading days preceding the date of intimation to the Stock Exchanges of the Board Meeting.
Voting Results
The special resolution passed with 99.99% of the votes polled cast in favour. A total of 147,247,243 votes were cast, representing 54.07% of the total outstanding shares. Promoters and the promoter group, who accounted for 52,600,771 votes, supported the resolution with 100% of their votes but have stated they will not participate in the buyback.
| Category | Shares Held | Votes Polled | % of Votes Polled on Outstanding Shares | Votes in Favour | Votes Against | % in Favour on Votes Polled |
|---|---|---|---|---|---|---|
| Promoter and Promoter Group | 142,266,251 | 52,600,771 | 36.97 | 52,600,771 | 100.00 | |
| Public Institutions | 93,090,219 | 91,510,062 | 98.30 | 91,510,062 | 100.00 | |
| Public Non-Institutions | 36,976,650 | 3,136,410 | 8.48 | 3,136,160 | 250 | 99.99 |
| Total | 272,333,120 | 147,247,243 | 54.07 | 147,246,993 | 250 | 99.99 |
Regulatory Filings
The scrutiny of the votes was conducted by CS Purvi Dave of MJP Associates, Practising Company Secretaries. The remote e-voting facility was provided by MUFG Intime India Private Limited. The Board of Directors has been authorized to finalize the terms of the buyback, including the record date, opening and closing dates, and the appointment of intermediaries such as merchant bankers and registrars. The buyback period will commence from the date of declaration of the postal ballot results.
Historical Stock Returns for Rolex Rings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.18% | -3.82% | -6.64% | +33.50% | -14.67% | +16.66% |
How will the utilization of ₹1,800 million in internal resources for the buyback impact Rolex Rings' capacity to fund future capital expenditures or working capital requirements?
What effect will the significant reduction of 3.67% in equity share capital have on the company's earnings per share (EPS) and return on equity (ROE) metrics moving forward?
With the buyback price set at a ~42% premium, how might the stock price behave once the offer closes, and is there risk of a sell-off by non-participating retail investors?
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