To seek money via an initial public offering (IPO), DOMS Industries has submitted a draft red herring prospectus (DRHP) to market regulator Securities Exchange Board of India (SEBI).
The Indian stationery and art goods industry is dominated by DOMS Industries, a key player in holistic creative products. The business wants to raise Rs 1,200 crore from the main market, according to the DRHP.
The IPO consists of a new issuance of up to Rs 350 billion and an offer-for-sale (OFS) from the company’s founders, FILA – Fabbrica Italiana Lapis ed Affini, Sanjay Mansukhlal Rajani, and Ketan Mansukhlal Rajani, totaling up to Rs 850 billion.
The issue’s net proceeds will be used for general business objectives as well as financing the establishment of a new manufacturing facility to increase the company’s capacity to produce a variety of writing tools, water color pens, markers, and highlighters. However, the selling stockholders will get the profits from OFS.
Qualified institutional bidders (QIBs) will get at least 75% of the offer, while non-institutional investors would receive 15% of the allocations, according to the business. Retail investors will get the remaining 10% of the shares. Both BSE and NSE will list the stock.
The issue’s book-running lead managers are JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities, while the business has chosen Marathon Capital Advisory and ITI Capital to serve as its corporate advisers. In the meanwhile, Link Intime India has been chosen to serve as the issue’s registrant.
