Doms Inds slumps after FILA pares 5% stake via ABB

Doms Industries declined 4.33% to Rs 2923 after the company's holding firm, FILA has sold 4.57% equity share capital of the company through accelerated bookbuilding process (ABB).

Italian stationery maker, FILA offloaded 27.73 lakh shares or 4.57% stake following the expiration of one year lock-in period.

Upon completion of the sale of shares, F.I.L.A., holds approximately 30.58% of the companys equity share capital, will reduce its stake up to a percentage not below 26.01%.

Despite this reduction, the company will continue to represent a long-term strategic investment and a key industrial partner for F.I.L.A., which, therefore, intends to keep its stake in the Company stable. As the companys single largest shareholder upon completion of the Placement, F.I.L.A. will maintain its relevant shareholder status according to the current governance structure, the company stated in regulatory filing.

In connection with the sale of stake, FILA has agreed to a 90-day lock-up period with respect to any remaining equity shares of the company it will hold following the placement.

Shares of Doms Industries were listed on the bourses on 20 December 2023. The scrip was listed at Rs 1,400, exhibiting a premium of 77.22% to the issue price of Rs 790.

Doms Industries is primarily engaged in manufacturing, marketing, trading and distribution of school stationery and art materials under the brand names 'DOMS' and 'C3'

The company reported 42.54% surge in consolidated net profit to Rs 51.33 crore in Q2 FY25 as against 36.01 crore posted in Q2 FY24. Revenue from operations jumped by 19.71% YoY to Rs 457.77 crore in the quarter ended 30 September 2024.

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