DOMS Industries IPO: A Whirlwind Entry into the Domestic Market
📈 Shares of DOMS Industries, a company known for producing stationary and art products, made a remarkable debut in the domestic market today. The IPO received a strong response from investors, with a whopping 99 times oversubscription. The shares were issued at a price of INR 790, and they made their entry on the BSE at INR 1400. This means that IPO investors have earned a listing gain of 77%, and the stock continues to surge even after listing.
💰 Employees of DOMS Industries have reaped greater benefits compared to other investors, as they received each share at a discounted price of INR 75. This IPO has garnered a massive investment of INR 1,200 crore, and it was open for subscription from 13th to 15th December. The IPO received a strong response from investors, with an overall subscription of 99.34 times. The Qualified Institutional Buyers (QIB) segment was subscribed 122.16 times, while the non-institutional investors segment and retail investors segment were subscribed 70.06 times and 73.38 times, respectively.
💼 The IPO saw the issuance of 350 crore new shares, along with an offer for sale window, where 1,07,59,493 shares with a face value of INR 10 were sold. The funds raised through the issuance of new shares will be utilized for various expenses related to the establishment of new manufacturing facilities and general corporate purposes.
🏢 DOMS Industries is involved in the design and manufacturing of various types of stationary and art products. Its business has a presence in more than 45 countries under the DOMS brand. In India, the company is the second-largest in the branded “stationary and art products” segment, with a market share of 20%. It holds a market share of 29% in the pencil market and 30% in the mathematical instrument box market.
💹 The company’s financials have shown tremendous growth, with a net profit of INR 95.8 crore and a revenue of INR 1,212 crore in the fiscal year 2023, representing a YoY increase of 567% and 77.3%, respectively. In the September fortnight alone, the company recorded a net profit of INR 70.63 crore and a revenue of INR 761.18 crore.
Exciting times lie ahead for DOMS Industries as it continues to expand its presence in the domestic and international markets. With its strong financials and a successful IPO, the company is poised for a bright future in the stationary and art products industry.
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(Note: This news article is purely fictional and created for demonstration purposes only.)
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