Mega Listings: Dom Industries Lists At 77.2% and India Shelter Finance Corporation Lists At 25.7% Premiums
The Indian equity market on Wednesday witnessed two mega listings: DOMS Industries, debuting at a premium of 77.2 percent, and India Shelter Finance Corporation, debuting at a premium of 25.7 percent. DOMS Industries is now trading at Rs. 1400 and India Shelter Finance Corporation at Rs. 620, with an issue price of Rs. 790 and Rs. 493, respectively.
DOMS Industries
DOMS Industries raised Rs. 12,000 crore from the public issue. The initial public offering saw immense responses, with a subscription rate of 93.52 times as many investors purchasing 82.64 crore shares against an IPO size of 88.37 lakh.
Retail investors subscribed 69.65 times of their allotted quota, while high-net-worth individuals subscribed 66.51 times, and qualified institutional buyers picked up 115.97 times. The anchor book was opened on December 12 with institutional investors, 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, buying Rs 538 crore worth of shares.
DOMS Industries is a stationery and art product manufacturer that accumulates 70 percent of its income from scholastic stationery and art material segments. The company reported a net profit of Rs. 95.8 crore in fiscal 2023, which is a 567.2 percent increase from the previous year”s profit.
Revenue increased by 77.3 percent to reach Rs. 1212 crore. In the six-month period ending in September FY24, the company registered a net profit of Rs 70.63 crore on revenue of Rs 761.8 crore.
India Shelter Finance Corporation
India Shelter Finance Corporation raised Rs. 1200 crore with a subscription of 36.71 times more. Retail investors subscribed 9.95 times, non-institutional investors subscribed 28.51 times, and qualified institutional buyers (QIB) bought 89.7 times of their allotted quota.
The company raised Rs. 360 crore from anchor investors ahead of the IPO.Goldman Sachs, Massachusetts Institute of Technology, NHIT, and Steinberg India are those who participated in the anchor book.
This affordable housing finance company has a network of 203 branches across the country. In FY 2023, the company reported a profit of Rs. 155.3 crore, which is 21 percent higher compared to the previous year. Revenue jumped by 30.5 percent to Rs. 584.5 crore.
