DOMS IPO: GMP jumps on strong subscription status. Should you apply as bidding ends today?

The initial public offering (IPO) of DOMS Industries Ltd opened for subscribers on 13th December 2023 and it will remain open till 15th December 2023. So, bidding for ends today or in other words, investors have just one day in hand to apply for this IPO. As per the , the public issue worth 1,200 crore has received strong response from investors in first two days of subscription.

The stationery brand has fixed DOMS IPO price at 750 to 790 per equity share. Meanwhile, following bullish stock market sentiments and strong response from investors, grey market has gone highly bullish on the public issue. According to market observers, shares of DOMS Industries Limited are available at a premium of 502 in grey market today.

On DOMS IPO subscription opening date, DOMs IPO GMP (grey market premium) was 541. This means DOMS IPO GMP has risen by 51 in first two days of subscription. As mentioned above, shares of the stationery brand are available at a premium of 502 in grey market today.

This means DOMS IPO GMP today is 502, which is 51 higher from its GMP of 451 on Wednesday. Market observers said that strong response by investors and bullish sentiments on Dalal Street could be the possible reason for sharp rise in DOMS IPO GMP. DOMS IPO subscription status After two days of bidding, the public issue has been subscribed 15.

20 times whereas its retail portion has been subscribed 41. 18 times. The NII portion of the public offer has been subscribed 25.

83 times while QIB portion of DOMS IPO has been subscribed 1. 18 times. Giving ‘subscribe’ tag to the DOMS IPO, Dhruv Mudaraddi, Research Analyst at StoxBox said, “DOMS Industries Ltd.

is a proxy play on the growing stationery and art products industry in India and holds a significant market share in pencils and mathematical instrument boxes in the domestic market. The company’s focus on backward integration has resulted in cost efficiencies and shortened the market timing for its products which is evidenced in its robust financial performance. The market leadership position, strong brand presence, established international partnerships and a foothold in the export market makes it a formidable play in the stationery industry.

However, we believe that the issue is fully priced at a P/E multiple of around 30x annualized FY24 earnings and advise investors to subscribe to the issue for the benefit of listing gains. ” Advising investors to apply for the public offer, Hem Securities report said, “DOMS Industries Limited is having leadership position in the Indian ‘stationery and art material’ industry with the widest range of products, driving rapid business growth has strong brand recall driven by high quality, innovative and differentiated products with robust manufacturing infrastructure, & a focus on backward integration to drive efficiencies along with strategic partnership with FILA enabling access to global markets and product know-how has robust multi-channel distribution network with strong pan India presence. ” BP Equities, SBI Securities and has also given ‘subscribe’ tag to this public issue.

However, Ashika Research and Axis Capital has not rated any tag to this IPO. DOMs IPO details As T+3 listing has become mandatory from 1st December 2023, DOMs IPO allotment date is most likely on 18th December 2023 whereas DOMs IPO listing date is most likely on 20th December 2023. Livemint tops charts as the fastest growing news website in the world to know more.

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