DOMS Industries, a leading player in the stationery and art product sector, has successfully completed its initial public offering (IPO) on December 18, 2023. The company raised Rs 1,200 crore from the IPO, which was subscribed 93.52 times by investors across categories. The company will list its shares on BSE and NSE on December 20, 2023.
The allotment status of the DOMS IPO has been finalized on Monday, December 18, 2023. The investors who have applied for the IPO can check their allotment status online by logging in at Link Intime’s website. The investors will also receive an email from Link Intime with their allotment status and demat account details.
The grey market premium (GMP) of DOMS IPO had been rising steadily since the listing date was announced. Until the announcement of listing the GMP of DOMS IPO was around Rs 520-530 per share, indicating a strong listing performance for the company. The GMP is an indicator of the expected listing price and demand for the shares in the secondary market.
DOMS Industries is a well-established company that has a global presence in more than 40 countries. The company offers a wide range of products under its flagship brand name ‘DOMS’, such as notebooks, diaries, planners, pens, pencils, markers, erasers, stickers, etc. The company also has a strong distribution network across India and abroad.
The company aims to use the proceeds from the IPO for repayment or prepayment of certain borrowings availed by it from banks and financial institutions; funding working capital requirements; funding capital expenditure requirements; general corporate purposes; and issue expenses.
The company has reported a revenue growth of 18.6% and a net profit growth of 25.4% for the financial year ended March 31, 2023. The company has also maintained a healthy return on equity (ROE) of 23.7% and a low debt-to-equity ratio of 0.2 as on March 31, 2023.
The DOMS IPO which was released in the price band of INR 750.0 and 790.0 , was well received by both institutional and retail investors who showed interest in the company’s products and growth prospects. The QIB category was subscribed 115.97 times while the NII category was subscribed 66.51 times during the bidding process. The retail category was subscribed 69.67 times while the employee category was subscribed once.
The DOMS IPO is one of the few IPOs that have witnessed such high demand from investors in this festive season. The company’s strong fundamentals and attractive valuation make it an ideal investment option for long-term investors who are looking for quality growth stocks in this sector.
