DOMS Industries Sets IPO price band at Rs 750 to Rs 790 per share; Check subscription and other details here

7 Dec 2023 , 10:00 AM

DOMS Industries has announced the price band for its upcoming Initial Public Offering (IPO), ranging from Rs 750 to Rs 790 per equity share with a face value of Rs 10. The IPO subscription is set to open on Wednesday, December 13, and will conclude on Friday, December 15. The allocation to anchor investors is scheduled for Tuesday, December 12.

Key IPO Details:

• Price Band: Rs 750 to Rs 790 per equity share
• Subscription Dates: December 13 to December 15, 2023
• Anchor Investor Allocation: December 12, 2023
• Lot Size: 18 equity shares, and in multiples of 18 equity shares thereafter

The IPO consists of a fresh issuance of shares worth Rs 350 crore by DOMS Industries and an offer-for-sale (OFS) of Rs 850 crore worth of shares by existing shareholders. Italy-based corporate promoter FILA- Fabbrica Italiana Lapised Affini SpA will sell Rs 800 crore worth of shares in the OFS, while promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will offload shares worth Rs 25 crore each.

Other Highlights:

• The offer includes a 5% reservation for employees who will receive a Rs 75 discount per share to the final price.
• DOMS Industries, holding a 12% market share in India’s branded stationery and art products market, plans to utilize the net fresh issue proceeds to establish a new manufacturing facility for expanding production capabilities.
• The net proceeds will also be allocated for general corporate purposes.

IPO Schedule:

• Basis of Allotment: Monday, December 18, 2023
• Initiation of Refunds: Tuesday, December 19, 2023
• Credit of Shares to Demat: Tuesday, December 19, 2023
• Listing Date: Wednesday, December 20, 2023

Utilization of Net Proceeds:

1. Partly financing the establishment of a new manufacturing facility to expand production capabilities for various writing instruments, watercolor pens, markers, and highlighters.
2. General corporate purposes.

Book Running Lead Managers: JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities are the book running lead managers for the issue.

Investors can bid for a minimum of 18 equity shares and in multiples of 18 shares thereafter. Retail investors can invest a minimum of Rs 14,220 for 18 shares (one lot), and the maximum investment would be Rs 1,99,080 for 250 shares (14 lots).