DOMS industries secures Rs 538 crore from anchor investors; IPO opens
Funds raised would be used for setting up a new mfg facility for writing instruments, watercolour pens, markers, highlighters
image for illustrative purpose
New Delhi: Pencil maker DOMS Industries announced that it has raised Rs 538 crore from anchor investors.
The company has allotted 68.07 lakh equity shares to 55 funds at the upper price band of Rs 790 apiece, according to a circular uploaded on BSE's website.
The anchor book saw participation from investors, including Goldman Sachs Fund, Fidelity Fund, Abu Dhabi Investment Authority, Max Life Insurance Company, HDFC Life Insurance Company, Aditya Birla Sun Life Mutual Fund (MF), HDFC MF, SBI MF, ICICI Prudential MF and Axis MF.
The three-day maiden public issue, with a price band of Rs 750-790 per share, opened on Wednesday and would conclude on Friday.
The company's Rs 1,200-crore IPO comprises a fresh issue aggregating up to Rs 350 crore and an offer-for-sale (OFS) component aggregating up to Rs 850 crore by promoters.
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, BNP Paribas, ICICI Securities, and IIFL Securities are the book-running lead managers to the issue.
