DOMS Industries IPO Oversubscribed 5.71 Times
Dec 13, 2023 17:51
DOMS Industries IPO, seeking to raise Rs 1,200 crore, was fully subscribed within hours of opening. The offer, which includes a fresh issue and an offer for sale, was oversubscribed 5.71 times.
New Delhi, Dec 13 (PTI) The initial public offer (IPO) of pencil maker DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription.
The Rs 1,200-crore IPO received bids for 5,04,55,458 shares against 88,37,407 shares on offer, translating into 5.71 times subscription, according to data available with the NSE.
The category for retail individual investors (RIIs) subscribed 19.13 times while the portion for non-institutional investors received 7.95 times subscription. The quota for qualified institutional buyers (QIBs) was subscribed 6 per cent.
The initial public offering has a fresh issue of up to Rs 350 crore and an offer for sale of Rs 850 crore.
The price range for the offer is Rs 750-790 a share.
DOMS Industries has raised Rs 538 crore from anchor investors.
Funds raised through the fresh issue would be used for setting up a new manufacturing facility to expand the company's production capabilities for a range of writing instruments, watercolour pens, markers and highlighters as well as for general corporate purposes.
JM Financial, BNP Paribas, ICICI Securities and IIFL Securities are the managers to the offer.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.