The initial public offer (IPO) of pencil maker DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription.The Rs 1,200-crore IPO received bids for 5,04,55,458 shares against 88,37,407 shares on offer, translating into 5.71 times subscription, according to data available with the NSE.
The category for retail individual investors (RIIs) subscribed 19.13 times while the portion for non-institutional investors received 7.95 times subscription. The quota for qualified institutional buyers (QIBs) was subscribed 6 per cent.
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 managers to the offer.
