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DOMS Industries IPO receives 15.16 times subscription on day two of offer

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The Rs 1,200 crore Initial Public Offer (IPO) received bids for 13,39,90,938 shares against 88,37,407 shares on offer

New Delhi: The initial share sale of pencil maker DOMS Industries received 15.16 times subscription on the second day of offer on Thursday.

The Rs 1,200 crore Initial Public Offer (IPO) received bids for 13,39,90,938 shares against 88,37,407 shares on offer, according to data available with the NSE.

The Retail Individual Investors (RIIs) part received 41.07 times subscription while the quota for non-institutional investors got subscribed 25.77 times. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times.

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

Price range for the offer is 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 Ltd, BNP Paribas, ICICI Securities Ltd and IIFL Securities are the managers to the offer.

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