The Gujarat-based DOMS Industries is selling its shares in the price band of Rs 750-790 apiece with a lot size of 18 shares and its multiples thereafter. 
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The Gujarat-based DOMS Industries is selling its shares in the price band of Rs 750-790 apiece with a lot size of 18 shares and its multiples thereafter. The Rs 1,200 crore-initial public offering (IPO) of DOMS Industries continued to see a bidding interest from the investors during the third and final day of the bidding process.
The Gujarat-based DOMS Industries is selling its shares in the price band of Rs 750-790 apiece with a lot size of 18 shares and its multiples thereafter. The three-day bidding for the IPO will close for bidding today. The block consists of fresh share sale of Rs 350 crore, and offer-for-sale of up to 10,759,493 equity shares. According to BSE data, investors made bids for 60,97,15,800 equity shares, or 68.99 times, compared to the 88,37,407 equity shares offered for the subscription by 3.20 pm on Friday, December 15. The issue will close for bidding on Friday, December 15.
Also read: DOMS Industries IPO subscribed 8.4 times on Day 2 so far; retail portion subscribed 27x
The allocation for retail investors was subscribed 65.07 times, while the portion reserved for non-institutional investors saw a subscription of 62.72 times. Employees allocation was booked 26.57 times. However, the quota set aside for qualified institutional bidders (QIBs) attracted bids for 76.07 times of the allocations as of the same time. DOMS Industries stands as a prominent player in the stationery and art product sector. Specializing in the design, development, manufacturing, and sale of a diverse array of products under its flagship brand, DOMS, the company boasts a global footprint spanning over 40 countries including the Americas, Africa, Asia Pacific, Europe, and the Middle East. Last heard, DOMS Industries was commanding a grey market premium of Rs 530-540 per shares, signaling an upside of 65-70 per cent compared to the upper end of the price band. However, the premium in the unofficial market was about Rs 500 during the first day of the bidding. "We believe the company has robust growth potential led by well established distribution network, strong brand recall and well planned capacity expansion program to cater to the fast growing demand for branded stationery products. When compared to its peers, the company has relatively better return ratios," said SBICap Securities with a 'subscribe' rating to the issue for long term. DOMS is bringing the issue at price band of Rs 750-790 per share at p/e multiple of 32 times on post issue annualized H1FY24 PAT basis. Company is in a leadership position in the Indian ‘stationery and art material’ industry, said Hem Securities which has a subscribe rating on the issue. "DOMS has the widest range of products, driving rapid business growth has strong brand recall driven by high quality, innovative and differentiated products with robust manufacturing infrastructure, & a focus on backward integration to drive efficiencies along with strategic partnership with FILA enabling access to global markets and product," it said. DOMS Industries successfully raised Rs 537.75 crore through an anchor book. JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities serve as the book running lead managers for the DOMS Industries IPO, with Link Intime India appointed for the issue. The company's shares are anticipated to be listed on both the BSE and NSE exchanges on December 20, Wednesday.
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