DOMS Industries lists at a premium of 77% above the IPO price, at Rs 1400

 DOMS Industries lists at a premium of 77% above the IPO price, at Rs 1400

The majority of analysts think this stock is worth buying. They like the company's focus on high-growth target segment quality, innovation, and price approach.

The offer was subscribed 93.52 times, and investors purchased 82.64 crore shares against the IPO size of 88.37 lakh shares, according to statistics released by the exchanges.

On December 20, Domes Industries floated at a premium of 77.2%, in keeping with the forecasts of analysts because of the company's robust subscriber numbers and strong market momentum. On the NSE and BSE, the shares began trading at Rs. 1400, compared to the issue price of Rs. 790.

The manufacturer of art supplies and stationery, which gets 70% of its revenue from the educational stationery and art materials markets, collected Rs 1,200 crore via the public offering.

The initial public offering was subscribed 93.52 times, according to data released by the exchanges, with buyers purchasing 82.64 crore shares versus the IPO size of 88.37 lakh.

High net worth people purchased 66.51 times more than their designated amount, followed by retail investors who purchased 69.65 times more than the permitted limit. There were 115.97 reservations made for the segment reserved for eligible institutional purchasers.

On December 12, Rs 538 crore worth of the company's shares were purchased by institutional investors through Anchor Book, including Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs, SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and ICICI Prudential Life Insurance Company.

The majority of analysts think this stock is worth buying. The company's dedication to quality, innovation, and pricing strategy in a high-growth target area is appealing to them.

Choice Broking said, "We also see multi-SKU and strong brand presence bringing sustainable growth in the long run."

The company's sales increased by 77.3% to Rs 1,212 crore in the fiscal year that ended in March of this year, while its net profit increased by 567.2% year over year to Rs 95.8 crore. The firm declared a net profit of Rs 70.63 crore on sales of Rs 761.8 crore for the six-month period ended in September of FY24.