DOMS Industries issue will close today for public subscription. The ₹1,200-crore initial public offering from stationery maker saw a robust response in the initial two days. At the end of Day 2, the IPO was subscribed 16.44 times. The price band for the issue has been fixed at ₹750-790 a share and the market lot is 18 shares.

The IPO received bids for 13.43 crore shares as against an issue size of 88.37 lakh shares.

The IPO comprises a fresh issue of ₹350 crore and an offer for sale (OFS) of 1.07 crore shares. FILA- Fabbrica Italiana Lapised Affini SpA, the corporate promoter, plans to offload ₹800 crore worth of shares through the OFS. Besides, promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will also sell ₹25 crore each in the OFS.

While retail investors portion was subscribed whopping 41.2 times, quota for non-institutional investors received bids for 25.83 times and qualified institutional buyers (QIB) remained muted at 1.2 times the allotted quota. The issue has reservation for employee and that portion was subscribed 17.85 times.

The company had reserved 75 per cent of the offer size for qualified institutional buyers, 15 per cent for high net-worth individuals and the balance 10 per cent for retail investors.

Net proceeds of the issue will be used to finance a new facility for a wide range of writing instruments, watercolour pens, markers and highlighters besides general corporate purposes.

As part of IPO, the stationery major had raised ₹538 crore from anchor investors who included marquee investors such as Abu Dhabi Investment Authority, Optimix Wholesale Global Emerging Markets, Ashoka Whiteoak Emerging Markets, Fidelity Funds, Goldman Sachs, Theleme India Master Fund and Belgrave Investment Fund.

DOMS Industries designs, develops, manufactures, and sells a wide range of stationery and art products in the domestic market as well as overseasin over more than countries. It has 13 manufacturing facilities across Umbergaon, Gujarat.

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