Jobaaj Stories
On December 13, 2023, DOMS Industries Limited is going public by allowing people to bid for its initial public offering (IPO). The total value of the IPO is ₹1,200.00 crore. This includes creating and selling new shares worth ₹350.00 crores and selling existing shares worth ₹850.00 crores.
DOMS Industries has been around for more than 40 years. It started with a partnership firm called 'R.R. Industries,' founded by the Late Shri Rasiklal Amritlal Raveshia and the Late Shri Mansukhlal Jamnadas Rajani. They made and sold various products like school stationery, art materials, paper stationery, office supplies, hobby, and craft items, as well as fine art products.
The plan is for DOMS Industries IPO to be listed on BSE and NSE, most likely on December 20, 2023. Due to a new rule, it's the first mainboard IPO this month, following the T+3 listing that has become mandatory from December 1, 2023.
Source: Doms
Established in 2006, DOMS Industries is a key player in the stationery and art product sector. They make and sell a wide range of products under their brand, DOMS, in over 40 countries. In the fiscal year 2023, they achieved a 29% and 30% market share for their core products - pencils and mathematical instrument boxes.
Market observers note that DOMS Industries IPO grey market premium (GMP) today is ₹481. They think the bullish trend in the stock market and a busy primary market could be why the grey market sentiments are high.
For the IPO, at least 75% is set aside for Qualified Institutional Buyers (QIB), not more than 10% for retail investors, and not more than 15% for High Net Worth Individuals (HNIs).
The money from selling new shares will be used to partly fund a new manufacturing facility for making more writing instruments, watercolor pens, markers, and highlighters, and for general company purposes.
The IPO process will be open until December 15, 2023.
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