Doms Industries Secures Rs 537.75 Crore Ahead of IPO from Anchor Investors

13 Dec 2023 , 01:33 AM

Doms Industries, a leading manufacturer of stationery and art products, received a strong vote of confidence from institutional investors, with anchor investors acquiring shares worth Rs 537.75 crore through the anchor book on December 12th. The IPO is scheduled to open for subscription on December 13th and close on December 15th.

Prominent participants in the anchor book included:

• Abu Dhabi Investment Authority
• Optimix Wholesale Global Emerging Markets
• Ashoka Whiteoak Emerging Markets
• Fidelity Funds
• Goldman Sachs
• Theleme India Master Fund
• Belgrave Investment Fund

Domestic investors also showed strong support, with participation from:

• SBI Mutual Fund
• HDFC Mutual Fund
• Nippon Life India
• ICICI Prudential Mutual Fund
• Aditya Birla Sun Life Trustee
• Axis Mutual Fund
• ICICI Prudential Life Insurance Company
• Invesco India
• SBI Life Insurance Company
• Max Life Insurance Company
• Tata Mutual Fund
• Tata AIA Life Insurance Company

The IPO aims to raise Rs 1,200 crore, comprising:

• Fresh issuance of shares worth Rs 350 crore
• Offer-for-sale (OFS) of shares worth Rs 850 crore by existing shareholders

The price band has been set at Rs 750-790 per share.

Doms Industries holds a strong position in the Indian market, ranking second in the branded stationery and art products segment with a 12% market share by value in FY23. The company plans to utilize Rs 280 crore of the net fresh issue proceeds to establish a new manufacturing facility, enhancing production capabilities for writing instruments, watercolor pens, markers, and highlighters. The remaining funds will be used for general corporate purposes.