The initial public offer (IPO) of DOMS Industries procured bids for 5,04,55,458 shares as against 88,37,407 shares on offer, as per stock exchange data on Wednesday (13 December 2023). The issue was subscribed 5.71 times.
The IPO was introduced for bidding on Wednesday (13 December 2023) and it will close on Friday (15 December 2023). The price band of the IPO is fixated at Rs 750-790 per share. The minimum amount an investor can bid is 18 equity shares and in multiples of thereof.
The offer comprises fresh issues of up to Rs 350 crore and an offer for sale of up to Rs 850 crore.
Before the IPO, the promoter’s holding was 51%. Whereas after the IPO, the promoter’s holding will be reduced to 30.6%.
The company will use the net proceeds from the fresh issue to finance the establishment of a new manufacturing facility to expand its production capacity for a wide range of writing instruments, watercolor pens, markers, and highlighters amounting to Rs 280 crore and the balance towards general corporate purposes.
Just before the Company came to IPO, on Tuesday ( 12 December 2023 ), it raised around 537.74 crore from anchor investors. The board allotted 68.06 lakh shares at Rs 790 each to 55 anchor investors.
Doms Industries designs, develops, manufactures, and sells a wide range of stationery and art products. They have a presence in the domestic market and in over 45 international countries.
The company has made an exclusive tie-up with certain entities of the FILA Group, which will help the company in the distribution and marketing of their products in South Asia.
The firm reported a net profit of Rs 70.63 crore and a total income of Rs 761.80 crore for the six months ended on 30 September 2023.
Written by Nalin Suriya S.
