DOMS Industries IPO: The initial public offer of pencil maker DOMS Industries, which closed on Friday, December 15, received 93.40 times subscription on the final day of bidding, driven by overwhelming participation from institutional buyers. The Rs 1,200-crore initial public offering (IPO) received bids for 82,54,54,404 shares against 88,37,407 shares on offer.

The portion for Qualified Institutional Buyers (QIBs) got subscribed a whopping 115.97 times while the quota for Retail Individual Investors (RIIs) received 69.10 times subscription. The category for non-institutional investors attracted 66.47 times subscription.

The DOMS IPO share allotment might be finalised on December 18. It will likely be on both BSE and NSE on December 20.

The IPO was fully subscribed within hours of its opening on December 13.

DOMS Industries IPO GMP Today

According to market observers, unlisted shares of DOMS Industries are currently trading Rs 526 higher in the grey market as compared with its issue price. The Rs 526 grey market premium or GMP means the grey market is expecting a 66.58 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

DOMS Industries IPO Details

The IPO had a fresh issue of up to Rs 350 crore and an offer for sale of Rs 850 crore.

The price range for the offer was Rs 750-790 a share. The IPO of DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription.

DOMS Industries has raised Rs 538 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a new manufacturing facility to expand the company’s production capabilities for a range of writing instruments, watercolour pens, markers and highlighters as well as for general corporate purposes.

JM Financial, BNP Paribas, ICICI Securities Ltd and IIFL Securities were the managers to the offer.