DOMS Industries, the stationary and arts products manufacturing company that is set to open its IPO on 13th December has finalised the issue offer price at Rs 750 to Rs 790 per share at a face value of Rs 10 per share. The equity share price is 79 times that of at face value at the upper range. DOMS Industries IPO details other than the price band were announced last week.
The book-built issue of Rs 1,200 crore will open for subscription on December 13th and close on December 15th 2023. The IPO consists of fresh issue of 0.44 crore shares worth Rs 350 crore and an offer-for-sale of 1.08 crore shares worth Rs 850 crore.
The IPO lot size is 18 shares and the investors can apply in multiples of the 18 shares thereafter as the reservation allows. The IPO reserves minimum 75% portion of the net issue for the QIBs, maximum 15% for the NIIs and a maximum 10% for the retail investors. Furthermore, the retail investors can apply for 1-14 lots while the NIIs can apply for 15-71 lots.
When counted at upper price range of Rs 790 per shares, the minimum investment per lot (18 shares) totals to Rs 14,220.
Even before the Company officially announced the IPO price band, the grey market has been seeing DOMS shares being traded at a hefty premium. Grey market is the unregulated market. As of today morning , the DOMS Industries IPO grey market premium was Rs 410, a premium of around 51% on top of the official price band. The grey market premium is in most cases a good indicator of investors’ interest in a particular IPO but it’s not regulated by SEBI.
DOMS Industries is the first mainline IPO to debut in December 2023 after a blockbuster November. The streak is to resume soon as 15 mainboard IPOs are bound for the Dalal Street in next two months.
