DOMS Receives Board Approval for IPO as Parent Company Fila Commits Rs 800 Crore Worth of Shares for Sale
- ByStartupStory | July 23, 2023
Pencil manufacturer DOMS, backed by Italian pencil maker Fabbrica Italiana Lapis ed Affini SpA (Fila), has obtained approval for an initial public offering (IPO), with Fila committing to offer approximately Rs 800 crore (90 million euros) worth of DOMS shares for sale. Despite the IPO, Fila will retain its position as the company’s single largest shareholder. The listing is projected to conclude by the end of the year.
Founded in 1975 as pencil manufacturer R.R. Industries, DOMS is part of the RR Group. In 2006, the RR Group launched the stationary brand Doms, which later underwent consolidation and was renamed as DOMS. The company currently operates more than 15 production facilities in India, and its diverse range of products, including pencils, erasers, and rulers, are available in over 50 countries.
Fila, renowned for producing Giotto coloring pencils and Canson papers, initially acquired an 18.5% stake in DOMS for €5.4 million in 2012. In 2015, Fila increased its holding to 51%, becoming the majority shareholder of the Indian stationary maker.
Earlier reports from April had indicated that DOMS was planning to file for an IPO in Mumbai, with potential fundraising between $200 million to $300 million. With the board’s approval and Fila’s significant commitment, DOMS is well-positioned to embark on its IPO journey in the coming months.
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