Dazzling Debut for DOMS Industries as Shares Surge 77.2% on IPO Listing, Opening at ₹1,400
Today marked a remarkable debut for DOMS Industries on both the NSE and BSE as its share price soared to ₹1,400 per share, an impressive 77.2% premium over the issue price of ₹790.
The IPO subscription period for DOMS Industries ran from Wednesday, December 13, to Friday, December 15, attracting substantial investor interest and achieving a remarkable oversubscription rate of 93.52 times by the end of day 3.
DOMS Industries IPO particulars included a price band of ₹750 to ₹790 per equity share with a lot size of 18 equity shares, followed by multiples of 18 equity shares. The IPO comprised a fresh issue of shares up to ₹350 crore and an offer for sale (OFS) of equity shares with a face value of ₹10 each, aggregating up to ₹850 crore. The overall size of the DOMS Industries IPO stood at ₹1,200 crore.
Proceeds from the new issue are earmarked for general corporate purposes and the development of a new manufacturing facility to boost production capacity for various writing instruments, watercolour pens, markers, and highlighters.
The book running lead managers (BRLM) for the DOMS IPO included JM Financial Limited, BNP Paribas, ICICI Securities Limited, and Iifl Securities Ltd. The registrar of the IPO is Link Intime India Private Ltd.
As of today, the Grey Market Premium (GMP) for DOMS Industries remained robust at +510, consistent with the previous session. This suggests that DOMS shares are trading at a premium of ₹510 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current GMP, the estimated listing price for DOMS IPO shares is ₹1,300 apiece, reflecting a substantial 64.56% increase over the IPO price of ₹790.
With the Grey Market Premium showing an upward trend and a strong listing anticipated based on recent activities, DOMS Industries has indeed made a noteworthy entry into the market.
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