The DOMS Industries stock listed at Rs 1,400 on both BSE and NSE, reflecting a jump of 77.21% from the issue price
New Delhi: Shares of pencil maker DOMS Industries Ltd made a dream stock market debut on Wednesday and ended with a huge premium of over 68 per cent against the issue price of Rs 790.
The stock listed at Rs 1,400 on both BSE and NSE, reflecting a jump of 77.21% from the issue price.
During the day, the stock zoomed 81.55%to Rs 1,434.25 on the BSE. Shares of the company finally ended at Rs 1,330.85, up 68.46%.
At NSE, it jumped 81.51% to Rs 1,434 during the day. The stock ended at Rs 1,302.95, climbing 64.93%.
The company commanded a market valuation of Rs 8,076.56 crore.
In traded volume terms, 7.76 lakh shares of the company were traded at the BSE and over 1.46 crore shares at the NSE during the day.
The initial share sale of DOMS Industries received 93.40 times subscription on the final day of bidding on Friday, driven by overwhelming participation from institutional buyers.
The Rs 1,200-crore Initial Public Offering (IPO) had a fresh issue of up to Rs 350 crore and an offer for sale of Rs 850 crore.
The price range for the offer was Rs 750-790 a share.
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.
