We investigated optically induced ultrafast magnetization dynamics in square shaped Ni 80 Fe 20 nanorings with varying ring width. Rich spin-wave spectra are observed whose frequencies showed a strong dependence on the ring width. Micromagnetic simulations showed different types of spin-wave modes, which are quantized upto very high quantization number. In the case of widest ring, the spin-wave mode spectrum shows quantized modes along the applied field direction, which is similar to the mode spectrum of an antidot array. As the ring width decreases, additional quantization in the azimuthal direction appears causing mixed modes. In the narrowest ring, the spinwaves exhibit quantization solely in azimuthal direction. The different quantization is attributed to the variation in the internal field distribution for different ring width as obtained from micromagnetic analysis and supported by magnetic force microscopy. V