DOMS Industries IPO Subscribed 5.72 Times On Day One

Pencil-maker DOMS Industries Ltd. opened its Rs 1,200 crore initial public offering on Wednesday.

The maiden public issue, priced in the range of Rs 750–790 per share will conclude on Dec. 15.

The IPO consists of a fresh issue of 44.3 lakh shares, aggregating up to Rs 350 crore; and an offer for sale of 1.08 crore shares, aggregating up to Rs 850 crore by promoters.

The company aims to use the proceeds to finance the cost of establishing a new manufacturing facility to expand production capabilities for a wide range of writing instruments, water colour pens, markers and highlighters, and general corporate purposes.

DOMS Industries Ltd. has raised Rs 537.7 crore from anchor investors, ahead of its initial public offering.

The pencil maker allotted 68,06,961 crore shares at Rs 790 apiece to 55 anchor investors.

Ten domestic mutual funds have applied through a total of 27 schemes, an exchange filing said. They have collectively netted 38.14% of the anchor portion of Rs 205 crore.

The IPO has been subscribed 5.72 times, as of 5 p.m. on Wednesday.

• Institutional investors: 0.06 times

• Non-institutional investors: 7.96 times

• Retail investors: 19.16 times.

• Employee Reserved: 9.26 times.