DOMS Industries marks stellar debut on D-street; Lists over 77%, What should you do now-
时间:2024-06-29 04:10:55 阅读(143)
DOMS Industries, a domestic designer and manufacturer of stationery and art products, makes a robust debut on the stock market, opening at ₹1,400 per share. This represents a significant 77% premium compared to its Initial Public Offering (IPO) price of ₹790 per share.
Out of the ₹1,200 crore IPO, DOMS Industries received bids worth ₹65,000 crore. The IPO comprised a mix of a ₹350 crore fresh issue and an Offer for Sale (OFS) for the remaining portion.
“DOMS Industries has debuted at Rs. 1405 i.e. 77% above its issue price. Its strong brand, diverse product portfolio, and robust manufacturing position it well for continued growth. Multi-channel distribution and strategic partnerships expand its reach. Doms has demonstrated impressive financial growth in recent years, solidifying its market position and future potential,” said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Nyati also said that, the issue came at a P/E of 43x, which was fully priced. Thus, considering such a premium on listing, allottees who applied for the public offering for listing premium are advised to book profit however investors with long-term view may hold it by keeping a stoploss at 1260. A fresh buy will not be recommended at such a high level.
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