DOMS Industries IPO: Due in large part to the overwhelming participation of institutional buyers, pencil maker DOMS Industries’ first public offer, which closed on Friday, December 15, received 93.40 times subscription on the last day of bidding. 82,54,54,404 shares were bid for in the Rs 1,200-crore initial public offering (IPO), out of the 88,37,407 shares that were offered.
A staggering 115.97 times were subscribed to the portion designated for Qualified Institutional Buyers (QIBs), compared to 69.10 times for the Retail Individual Investors (RIIs) quota. The non-institutional investor category received 66.47 times as many subscriptions.
On December 18, the allocation of shares for the DOMS IPO may be finalized. On December 20, it is probably going to be on the BSE and NSE.
In just a few hours after opening on December 13, the IPO was fully subscribed.
DOMS Industries IPO GMP Today
Market watchers report that unlisted shares of DOMS Industries are presently trading on the grey market for Rs 526 more than the company’s issue price. The grey market is anticipating a listing gain of 66.58 percent from the public issue, as indicated by the Rs 526 grey market premium, or GMP. The GMP is dynamic and dependent on market sentiment.
The willingness of investors to pay over the issue price is indicated by the “grey market premium.”
DOMS Industries IPO Details
A new issue of up to Rs 350 crore and an offer for sale of Rs 850 crore were part of the IPO.
The offer was made for between Rs 750 and Rs 790 per share. Within hours of going up for bids on Wednesday, DOMS Industries’ IPO was fully subscribed, and by the end of the day, it had received 5.71 times as many bids.
Anchor investors have contributed Rs 538 crore to DOMS Industries. The money raised by the new issue would be utilized for general corporate purposes as well as the establishment of a new manufacturing facility to increase the company’s capacity to produce a variety of writing instruments, including watercolour pens, markers, and highlighters.
The managers of the offer were IIFL Securities, BNP Paribas, ICICI Securities Ltd., and JM Financial.
[…] IPO: Due in large part to the overwhelming participation of institutional buyers, pencil maker DOMS Industries’ first public offer, which closed on Friday, December 15, received 93.40 times subscription on the last day of bidding. […]