Rajkot-based Rolex Rings Limited is a leading manufacturer of forged and machined components. The company had issued its IPO this year in March.
The company has entered into Memorandum of Understanding (MoU) with the Gujarat Government.
The company said in a filing, “As a part of promotion activity for vibrant Gujarat Summit 2022, the company has entered into MoU with the Government of Gujarat for development of Textile & Apparel Park, IT Park and Toy Park at Gondal District with proposed investment of Rs. 1,500 crore.”
The Gujarat Government is organising Vibrant Gujarat Summit from 10 to 12 January and textile is also a focus sector for investment.
Recently, Lulu Group also announced to set up a mall in Gujarat atan investment of Rs. 2,000 crore, which is expected to create 5,000 jobs.