DOMS IPO: Subscription Frenzy, GMP Soars, and Anticipation Builds for Listing

The excitement surrounding DOMS Industries Limited's Initial Public Offering (IPO) has reached new heights, with market observers reporting a subscription of 93.40 times during the three-day bidding period from 15th to 18th December 2023. As the focus shifts to share allotment and the anticipated listing date on 20th December 2023, investors eagerly await further developments.

With the recent mandatory implementation of T+3 listing from 1st December 2023, the likely listing date for DOMS IPO is set for 20th December 2023. Investors eyeing share allocation can anticipate updates either today or on Monday next week, with the DOMS IPO allotment date potentially falling on 18th December 2023.

Meanwhile, the Grey Market Premium (GMP) for DOMS IPO has witnessed a surge, currently standing at ₹528, a noteworthy increase from its Friday GMP of ₹502. Market observers attribute this rise to the robust response from investors across segments and the ongoing bullish trend in the Indian stock market. The consistent upward movement of key indices and the overcrowded primary market have contributed to the positive sentiments in the unlisted stock market, propelling DOMS shares in the grey market.

Market analysts suggest that the current GMP of ₹528 indicates an expectation that the listing price for DOMS IPO could be around ₹1,442 levels (₹790 + ₹552), reflecting an approximate 82.50% increase from the IPO's price band of ₹750 to ₹790 per equity share.

However, it is crucial to note that Grey Market Premium (GMP) is considered a non-regulated and speculative indicator, lacking a direct connection to a company's balance sheet. Stock market experts caution investors against relying solely on GMP for assessing potential listing gains, emphasizing the speculative nature of the grey market.

Looking back at the subscription status, the DOMS IPO garnered significant interest, recording an overall subscription of 93.40 times. The retail portion saw a subscription of 69 times, while the Non-Institutional Investors (NII) portion was subscribed 66 times. The Qualified Institutional Buyers (QIB) portion witnessed an impressive oversubscription of 116 times its original offer.

In anticipation of the listing date on 20th December 2023, investors are advised to stay tuned for updates on share allotment and further market dynamics. As the IPO landscape continues to evolve, DOMS Industries Limited emerges as a focal point, capturing the attention of both seasoned investors and those venturing into the dynamic world of the stock market.