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DOMS Industries Limited gets SEBI nod for IPO

Link: https://www.sebi.gov.in/filings/processing-status/nov-2023/processing-status-issues_59558.html

 DOMS Industries Limited, a leading holistic creative products player in the Indian stationery and art products market hasreceived the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO).

The Company’s initial public offering aggregating up to ₹ 12,000 million which comprises a fresh issue aggregating up to Rs 3,500 million and an offer for sale aggregating up to ₹ 8,500 million. The offer for sale comprises of equity shares aggregating up to ₹ 8,000.00 million by corporate promoter, F.I.L.A. – Fabbrica Italiana Lapis ed Affini S.p.A., equity shares aggregating up to ₹ 250 million by Sanjay Mansukhlal Rajani and equity shares aggregating up to ₹ 250 million by Ketan Mansukhlal Rajani.

The funds raised through the fresh issue are proposed to be utilized for the part funding of the cost of establishing a new manufacturing facility to expand the company’s production capabilities for a wide range of writing instruments, water colour pens, markers and highlighters as well as for general corporate purposes.

The company designs, develops, manufactures, and sell a wide range of well-designed, quality stationary and art products, primarily under the flagship brand ‘DOMS’ and sub brands C3, Amariz and Fixy Fix in the domestic market as well as in over 40 countries internationally, covering the US, Africa, Asia Pacific, Europe, and Middle East belt. The product categories which include over 3,770 SKUs, are classified into seven categories including scholastic stationery, scholastic art material, paper stationery, kits and combos, office supplies, hobby and craft and fine art products. As of FY23, the company’s core products such as pencils and mathematical instrument boxes enjoy a market share by value of 29% and 30% respectively. While the product offerings have evolved significantly over the past several years, the largest product ‘pencils’ contributed 31.66% of the gross product sales amounting to ₹ 3,899.88 million in Fiscal 2023. The company has a wide and differentiated presence across multiple product categories and price points which has enabled DOMS to be the fastest growing stationery and art material products company in India in terms of revenue over the period from Fiscal 2020 to Fiscal 2022.

The 11 manufacturing facilities are located in Umbergaon, Gujarat and in Bari Brahma, Jammu and Kashmir. The company has a widespread multi-channel distribution network with a strong pan-India presence. The domestic distribution network for general trade comprises of over 100 super-stockists, and 3,750 distributors along with a dedicated sales team of over 450 personnel covering more than 115,000 retail touch points across 3,500 cities and towns. They also cater to consumers through modern trade and e-commerce.

DOMS’ focus on developing quality products and offering them at affordable price points, specifically keeping in mind children and young adults, allows them to differentiate their offerings from competitors and gives them a strategic advantage, while capitalizing on industry growth opportunities in India and globally.

JM Financial Limited, BNP Paribas, ICICI Securities Limited and IIFL Securities Limited are the Book Running Lead Managers to the issue.

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