DOMS Industries announces IPO schedule

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DOMS Industries announces IPO schedule
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DOMS Industries, a leading player in the writing instruments market, has announced its plans to go public with an initial public offering (IPO) slated between December 13-15. The company seeks to raise Rs 1,200 crore (Rs 1 crore = $119,921) through a combination of fresh issues and an offer for sale (OFS). Key shareholders, including major stakeholder Fila and Managing Director Santosh Raveshia, are expected to maintain their controlling interest after the offering.

The IPO is part of DOMS' strategy to capitalize on the surging demand in its hometown of Umbergaon and expand its manufacturing capabilities. The company has established a strong fiscal foundation, boasting a revenue of Rs 1,212 crore and a net income of Rs 102.9 crore for the fiscal year 2023. This financial success follows significant investments in capital expenditure totaling Rs 126 crore during the same period.

The capital raised from the IPO is earmarked for enhancing the company's production facilities for their range of writing products. Since its establishment in 2006, DOMS has secured a substantial share of the global market across more than forty countries. The company also holds exclusive distribution rights for FILA Group products within South Asia.

DOMS' anticipated listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will be in accordance with the Securities and Exchange Board of India's (SEBI) 'T+3' mandate. The IPO includes a reservation of shares worth Rs five crores for employees and a share distribution plan that allocates seventy-five percent for Qualified Institutional Buyers (QIBs), fifteen percent for non-institutional investors, and ten percent for retail shareholders.

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