The public issue includes a fresh issue of shares worth Rs 350 crore and an offer-for-sale of Rs 850 crore by the promoters.
FILA- Fabbrica Italiana Lapised Affini S.p.A. The company’s corporate promoter, which holds 51 percent shareholding, has offloaded shares worth Rs 800 crore through OFS, while domestic promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will sell shares worth Rs 5 crore each.
The Gujarat-based company, which manufactures and sells products under the DOMS brand, may consider a pre-IPO placement of Rs 70 crore before filing a red herring prospectus with the ROC. Once the pre-IPO placement is completed, the size of the new issue will be reduced to the amount of such pre-IPO placement, the company said in its prospectus.
Doms Industries, which sells products in the domestic market and sells products in over 40 countries, claims to enjoy 29 percent and 30 percent market share in FY23, respectively, based on the value of its core products such as pencils and mathematical instrument boxes.
In the year ended March FY23, the company posted a net profit of Rs 102.87 crore, a 500 percent increase over the previous year’s profit of Rs 17.14 crore. Income from operations rose 77.3 percent to Rs 1,212 crore in FY23, from Rs 683.6 crore in the previous financial year.
The fresh issue proceeds will be utilized for establishing a new manufacturing facility to expand production capabilities for a wide range of writing instruments, water-colour pens, markers and highlighters at Valsad in Gujarat, and for general corporate purposes.
The proceeds of the new issue will be used to set up a new manufacturing facility at Valsad, Gujarat for a wide range of writing instruments, watercolor pens, markers and highlighters and to expand manufacturing capacity for general corporate purposes.
