DOMS Industries IPO fully subscribed within hours of opening

New Delhi: The initial public offer (IPO) of pencil maker DOMS Industries got fully subscribed within hours of opening for subscription on Wednesday.

The Rs 1,200-crore IPO received bids for 2,76,23,106 shares against 88,37,407 shares on offer, according to data available with the NSE till 13:24 hours, translating into 3.13 times subscription.

The category for Retail Individual Investors (RIIs) got subscribed 11.74 times while the portion for non-institutional investors received 3.51 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent.

The initial public offering has a fresh issue of up to Rs 350 crore and offer for sale of Rs 850 crore.

Price range for the offer is Rs 750-790 a share.

DOMS Industries has raised Rs 538 crore from anchor investors.

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.