Pencil maker DOMS Industries is set to launch its Rs 1,200-crore Initial Public Offering (IPO) on December 13. The three-day maiden public issue will conclude on December 15 and the anchor book of the offer will be opened for a day on December 13, according to the Red Herring Prospectus (RHP).
The company’s IPO comprises a fresh issue aggregating up to Rs 350 crore and an Offer For Sale (OFS) aggregating up to Rs 850 crore by promoters.
Under the OFS, corporate promoter F.I.L.A. — Fabbrica Italiana Lapis ed Affini S.p.A. — will offload shares worth Rs 800 crore and individual promoters — Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will sell shares to the tune of Rs 25 crore each.
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The 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.
The company designs, develops, manufactures, and sells a range of stationary and art products, primarily under the flagship brand ‘DOMS’ and sub-brands C3, Amariz, and Fixy Fix, in the domestic market as well as in over 40 countries, covering the US, Africa, the Asia-Pacific, Europe, and West Asia.
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The products are classified into seven categories, including scholastic stationery, scholastic art material, paper stationery, kits and combos, office supplies, hobby and craft, and fine art products.
As of FY23, the company’s core products such as pencils and mathematical instrument boxes, enjoy a market share by value of 29 per cent and 30 per cent respectively.
JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities are the book-running lead managers to the issue.
