Tata Technologies’ IPO has recently attracted investors’ attention from its subscription to its listing, marking the first IPO by the Tata group since 2004. Investors earned more than double their investment on the first day of the successful IPO. Now, the IPO of DOMS Industries, a company that manufactures stationery and art products, is set to enter the market. The grey market has already seen a surge in buying activity ahead of the subscription for the IPO, with shares of the company experiencing an increase of over 80% in the past two days. This indicates the possibility of a positive response from investors once the IPO opens.
The grey market is an unauthorized trading platform where transactions start before the official listing. Investors closely monitor the grey market to gauge the market’s enthusiasm for the IPO. The higher the demand in the grey market, the higher the chances of a successful IPO. DOMS Industries’ IPO, which offers similar returns as Tata Technologies, has already created a buzz in the grey market. The IPO will open on December 13 and close on December 15, with the company aiming to raise ₹1,200 crore ($161 million) to fund the establishment of a new plant. The company has already purchased land for the plant.
In terms of financials, DOMS Industries reported a revenue of ₹761.8 crore ($102 million) in the first half of the current fiscal year, with a net profit of ₹70.63 crore ($9.5 million). The company’s revenue has increased to ₹1,212 crore ($163 million) at the end of the financial year 2023, compared to ₹683.6 crore ($92 million) in the previous year. Additionally, DOMS Industries will be the first company to list on the stock market under the new T+3 timeline. Italian company FILA will raise ₹800 crore ($107 million) through its IPO, while Indian promoters will sell their stake for ₹400 crore ($54 million), resulting in 75% ownership by all promoters even after the IPO.
DOMS Industries IPO: Key Information
1. IPO Opening Date: 13th December 2023
2. IPO Closing Date: 15th December 2023
3. IPO Price Range: INR 750 to INR 790 per equity share
4. IPO Size: The company aims to raise INR 1,200 crores through the IPO.
5. Use of Funds: DOMS Industries plans to utilize the funds raised from the IPO to establish a new plant.
6. Financial Performance: In the first half of the current financial year, the company reported a revenue of INR 761.8 crores and a net profit of INR 70.63 crores.
7. Listing: DOMS Industries IPO will be the first company to list under the new T+3 timeline.
8. Promoters: Italian company Fila will raise INR 800 crores through the IPO, while Indian promoters will sell their stake for INR 400 crores, resulting in a total promoter holding of 75% post-IPO.
Please note that the above information is based on the given news article.
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