The ₹1,200-crore initial public offering of Doms Industries saw a robust response within a few hours of launch on Wednesday. At the end of the first day, the IPO was subscribed 5.7 times. The price band for the issue has been fixed at ₹750-790 a share. The IPO will close on Friday and the market lot is 18 shares.

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The IPO received bids for 5.04 crore shares as against an issue size of 88.37 lakh shares.

The IPO, which will close on December 15, comprises a fresh issue of ₹350 crore and an offer for sale (OFS) of 1.07 crore shares. FILA- Fabbrica Italiana Lapised Affini SpA, the corporate promoter, plans to offload ₹800 crore worth of shares through the OFS. Besides, promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will also sell ₹25 crore each in the OFS.

While retail investors portion was subscribed 19.13 times, quota for non-institutional investors received bids for 7.95 times and qualified institutional buyers (QIB) remained muted at 0.06 times the allotted quota. The issue has reservation for employee portion that was subscribed 9.27 times.

The company had reserved 75 per cent of the offer size for qualified institutional buyers, 15 per cent for high net-worth individuals and the balance 10 per cent for retail investors.

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As part of IPO, the stationery major had raised ₹538 crore from anchor investors who included marquee investors such as Abu Dhabi Investment Authority, Optimix Wholesale Global Emerging Markets, Ashoka Whiteoak Emerging Markets, Fidelity Funds, Goldman Sachs, Theleme India Master Fund and Belgrave Investment Fund.

Net proceeds of the issue will be used to finance a new facility for a wide range of writing instruments, watercolour pens, markers and highlighters besides general corporate purposes.

DOMS Industries designs, develops, manufactures, and sells a wide range of stationery and art products in the domestic market as well as overseas. It has 13 manufacturing facilities across Umbergaon, Gujarat.