DOMS Industries IPO Shines with Debut on a 77% Premium

20 Dec 2023 , 09:51 AM

DOMS Industries IPO made its debut on the stock exchanges with a substantial premium of 77%. The company’s shares were listed at Rs 1400 on both NSE and BSE, reflecting a premium of 77.22% over the issue price of Rs 790.

The subscription period for DOMS Industries IPO commenced on Wednesday, December 13, and concluded on Friday, December 15. The response from investors was remarkable, with the IPO being oversubscribed by 93.52 times by the end of the third day.

In the IPO allocation, DOMS Industries reserved a minimum of 75% of the shares for Qualified Institutional Buyers (QIB), up to 15% for Non-Institutional Investors (NII), and a maximum of 10% for Retail Investors. Additionally, eligible employees participating in the employee reservation segment were offered a discount of Rs 75 per equity share.

Specializing in stationery and art products, DOMS Industries derives 70% of its business from scholastic stationery and art material segments. The public issue successfully raised Rs 1,200 crore, comprising a fresh issue of 44.3 lakh shares valued at Rs 350 crore and an Offer for Sale (OFS) of 1.07 crore shares, with the proceeds directed to the selling shareholders.