The Initial Public Offering (IPO) for the DOMS Industries Limited is confirmed to open on December 13th, 2023, making it the first mainboard IPO for the month of December after a near record-breaking November. The issue will remain open for subscription for 3 days from 13th December to 15th December. The DOMS Industries IPO comprises of a fresh issue of shares worth Rs 350 crore and an offer-for-sale of shares worth Rs 850 crore by the promoters. The price band and lot size details are yet to be announced publicly by the company.
DOMS Industries Limited, a stationary products manufacturer and market in India, looks to raise Rs 1,200 crore through this issue which it proposes to use for establish new manufacturing facility and fund general corporate expenses. The company had posted a net revenue of Rs 1,217 crore in FY23 over Rs 686 crore in FY22. The net profit in FY23 was Rs 102.87 crore over Rs 17.14 crore in FY22.
Key Details about DOMS Industries IPO:
- The IPO opening date and closing date are 13th December and 15th December, respectively.
- This is the first mainboard IPO that will follow the SEBI’s mandatory T+3 directive. Means, the IPO has to be listed within 3 days after the subscriptions close. The allotment, refunds initiation and credit of shares to the investors, all these proceedings will have to be completed within 3 working days after the issue closing date.
- The basis of allotment will be finalised by 18th December, refunds will be initiated on 19th December, and the credit of shares to the Demat accounts will be done on 18th/19th December before the IPO listing on the 20th December on NSE and BSE. Note that these are tentative dates and may change.
- Link Intime India Private Limited is the registrar for the DOMS Industries and will manage the allotment etc.
- The investors’ quota is 75% for QIBs, 15% for NIIs, and 10% for retail investors.
GMP Debuts strong
Even though the price band is yet to be announced, the DOMS Industries IPO already seems to be in demand as the grey market premium for the same is faring around Rs 150 (on 4th December), on the back of strong financials. Stellar performances by recent mainboard IPOs such as Tata Technologies, Flair Writing and IREDA etc. have kept the market abuzz and investors’ sentiment strong throughout the November month and December seems to follow the trend. Last week’s SME IPOs Deepak Chemtex and AMIC Forging also received strong subscription numbers. Any IPO’s GMP is an indication of market’s sentiment towards it but it’s unregulated and the investors should keep that in mind.
