DOMS Industries lists at Rs 1400, over 77% premium over IPO price

The issue was subscribed 93.52 times with investors buying 82.64 crore shares against an IPO size of 88.37 lakh shares, as per data published by the exchanges.

DOMS Industries listed at a premium of 77.2 percent on December 20 in line with analyst expectations on the back of strong subscription numbers and robust market momentum. The stock started trading at Rs 1400 on the NSE and BSE against the issue price of Rs 790.

The stationery and art products manufacturer, which gets 70 percent of its business from scholastic stationery and art material segments, raised Rs 1,200 crore from the public issue.

The initial public offering was subscribed 93.52 times with investors buying 82.64 crore shares against an IPO size of 88.37 lakh, data published by the exchanges shows.

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Retail investors had bought 69.65 times the allotted quota followed by high net-worth individuals who picked up 66.51 times their reserved portion. The part set aside for qualified institutional buyers was booked 115.97 times.

Institutional investors, including Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs, SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and ICICI Prudential Life Insurance Company, bought Rs 538 crore worth of shares in the company through anchor book on December 12.

Most analysts have a positive view on the stock. They like the company's commitment towards product quality, innovation and pricing strategy in the segment with a high-growth target audience.

"We also see the strong brand presence and multi-SKUs bringing sustainable growth in the long run," Choice Broking said.

The firm's net profit increased by 567.2 percent on-year to Rs 95.8 crore for the year ended March FY23 and revenue jumped 77.3 percent to Rs 1,212 crore. In the six-month period ending in September FY24, the company recorded a net profit of Rs 70.63 crore on revenue of Rs 761.8 crore.

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