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Riding high on the bullish sentiment in the secondary market, three companies — DOMS Industries, India Shelter Finance and Inox India — will raise ₹4,000 crore from primary market this week.
The primary equity issuance of stationery and art product maker DOMS for ₹1,200 crore will open for retail investors on Wednesday and conclude on December 15.
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The company will sell its shares in the range of ₹750-790. The issue consists of fresh equity issuance of ₹350 crore and an offer for sale (OFS) of ₹850 crore. Under the OFS, promoters Fabbrica Italiana Lapis, Sanjay Mansukhal Rajani and Keta Mansukhal Rajani will offload shares. The capital raised from the OFS will go to the selling shareholders.
The company intends to use the capital raised from the fresh issue towards establishing a new manufacturing facility for a wide range of writing instruments, water colour pens, markers and highlighters.
As of FY23, DOMS Industries had about 29 per cent and 30 per cent market share in pencils and mathematical instrument boxes.
Other fund-raises
WestBridge Capital and Nexus Venture Partners backed India Shelter Finance Corporation will be in market to raise ₹1,200 crore. The issue, which opens on Wednesday, is priced at ₹469-493.
India Shelter Finance is a retail-focused affordable housing finance company with an extensive distribution network and technology infrastructure. It recorded income growth of 32 per cent to ₹606 crore in FY23, while profit was up 21 per cent to ₹155 crore.
Cryogenic-storage tanks maker Inox India will tap the market on Thursday to mop up ₹1,460 crore. The company has fixed the price band at ₹627-660 per share.
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Inox India issue is completely an OFS of 2.21 crore shares with a face value of ₹2 each. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta, among others, will offload shares.
The company will not receive any proceeds and all the funds will go to the selling shareholders since there is no fresh equity issued.
Inox India has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions. In the six-month period ended September 2023, the company’s net profit was up 24 per cent to ₹103 crore as revenue increased 16 per cent to ₹565 crore.
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