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Pencil maker DOMS preps ₹1,200 cr IPO as mkt swells
July 31, 2023
|Mint Mumbai
DOMS Industries, India’s second-largest pencil maker, is set to file draft papers for a ₹1,200 crore initial public offering (IPO) with the Securities and Exchange Board of India (Sebi) in the second week of August, two investment bankers aware of the development said.
Italy’s F.I.L.A. Group, which owns a 51% stake in DOMS, plans to offer shares worth ₹800 crore in the issue. The company’s Indian promoters include the Raveshia and Rajani families.
The company will use the proceeds to establish one of the largest single-location manufacturing facilities in the stationery industry across the Asia Pacific region. It has allocated a capital expenditure of ₹800 crore for the same during the period from FY23 to FY28, one of the investment bankers said. The investment aims to transition the current plant from leased to owned facilities, increase production capacities, establish plants for new products, and refurbish older machinery.
The company has hired JM Financial Ltd, ICICI Securities Ltd, IIFL Capital Ltd, and BNP Paribas as bankers to the issue.
هذه القصة من طبعة July 31, 2023 من Mint Mumbai.
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