Doms Industries, a maker of pencils and erasers managed by Italy’s Fila, surged nearly 68% in its buying and selling debut in Mumbai on Wednesday, bucking a broader selloff available in the market.
The inventory jumped almost 82% intraday to Rs 1,434, taking the corporate’s market worth to over $1 billion (about Rs 8,300 crore), earlier than paring some positive aspects amid late declines within the broader market.The Gujarat-based agency raised Rs 1,200 crore, promoting shares at Rs 790 apiece.
The corporate reported income of Rs 1,210 crore for the year-ended March 2023 – up about 77% from a 12 months in the past, in response to knowledge compiled by Bloomberg. Web revenue rose greater than six instances to Rs 103 crore.
Inexpensive housing lender India Shelter Finance, which additionally made its debut on Wednesday, rose a bit over 10% to complete at Rs 545. Shares superior about 28% earlier within the day after the corporate raised $144 million in its IPO.
Doms and India Shelter’s IPOs, which drew bids a number of instances, rounded off a stable 12 months for India’s main market, which outstripped bigger peer Hong Kong for the primary time in 30 years. Corporations within the nation raised greater than $24 billion in IPOs and follow-on share choices.