DOMS Industries Receives SEBI Approval for ₹12 Billion IPO
Company Background
DOMS Industries Limited, a Mumbai-based company renowned for its wide range of scholastic stationery and office supplies, has recently obtained approval from the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at ₹12 billion. This development marks a significant milestone for the company, signaling its plans for substantial expansion and diversification of its product line.
Utilization of IPO Funds
The IPO encompasses a fresh issue totaling ₹3,500 million and an Offer for Sale (OFS) of ₹8,500 million, with corporate promoter F.I.L.A. S.p.A planning to sell shares worth ₹8,000 million. Additionally, individual stakeholders Sanjay and Ketan Rajani are each expected to divest shares amounting to ₹250 million. The company intends to utilize the raised funds for establishing new production facilities aimed at expanding its product offerings, including watercolor pens.
Market Presence and Growth
Following a period of robust revenue growth from Fiscal Year 2020 to 2022, DOMS Industries has successfully captured a significant market share in the pencils segment. The company’s extensive presence in the Indian market is evidenced by its multi-channel distribution network, reaching over 115,000 retail points across the nation.
IPO Management
A consortium of book runners, including JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities, is overseeing the IPO process, signaling a strategic and well-coordinated approach to the company’s public offering.
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