DOMS Industries IPO Oversubscribed 93.40 Times

New Delhi, Dec 15 (PTI) The initial share sale of pencil maker DOMS Industries received 93.40 times subscription on the final day of bidding on Friday, driven by overwhelming participation from institutional buyers.

The Rs 1,200 crore Initial Public Offer (IPO) received bids for 82,54,54,404 shares against 88,37,407 shares on offer, according to data available with the NSE.

The portion for Qualified Institutional Buyers (QIBs) got subscribed a whopping 115.97 times while the quota for Retail Individual Investors (RIIs) received 69.10 times subscription. The category for non-institutional investors attracted 66.47 times subscription.

The IPO had a fresh issue of up to Rs 350 crore and an offer for sale of Rs 850 crore.

The price range for the offer was Rs 750-790 a share.

The IPO of DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription.

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 Ltd and IIFL Securities were the managers to the offer.