DOMS IPO: GMP soars after strong subscription as focus shifts on allotment date
DOMS IPO: Bidding for the initial public offering (IPO) of DOMS Industries Limited ended on Friday last week. During three days of subscription from 15th to 18th December 2023, the public issue worth ₹1,200 crore got subscribed 93.40 times.
As T+3 listing has become mandatory from 1st December 2023, DOMS IPO listing date is most likely on 20th December 2023 whereas DOMs IPO allotment date is likely on 18th December, if it is not declared today. So, those who have applied for the DOMS IPO can expect share allocation either today or on Monday next week.
Meanshile, DOMS share price has surged further in grey market. According to stock market observers, shares of DOMs Industries Limited are available at a premium of ₹528 in grey market today.
Market observers said that DOMS IPO grey market premium (GMP) today is ₹528, which is ₹26 higher from its Friday GMP of ₹502. This means, DOMs IPO GMP has risen today. Market observers said that strong response by investors across segment and continuous bull rend in Indian stock market has probably done the trick for DOMS shares in unlisted stock market. They said that key indices of the Indian stock market have been ascending new highs in a regular basis and primary market is already overcrowded. Hence, sentiments in grey market were expected to shoot up and hence after stron reponse by investors to the DOMS IPO, grey market sentiment went up from ₹502 to ₹528.
What this GMP mean?
Market observers said that DOMs IPO GMP today is ₹528, which means grey market is expecting that DOMS IPO listing price would be around ₹1,442 levels ( ₹790 + ₹552), which is around 82.50 per cent higher from DOMs IPO price band of ₹750 to ₹790 per equity share.
However, stock market experts maintained that GMP is not an ideal indicator about possible listing gain assessment. They said that grey market is non regulated and completely speculative as it has no connect with balance sheet of the company.
After closure of bidding for DOMS IPO, the public issue got subscribed 93.40 times whereas its retail portion has been subscribed 69 times. The NII portion of the mainboard issue has been subscribed 66 times while its QIB portion got subscribed 116 times of its original offer.
In the wake of T+3 listing, DOMs IPO listing date is most likely on 20th December 2023 i.e. on Wednesday next week. Hence, investors can expect DOMS IPO allotment date on 18th December 2023 if finalisation of share allocation is not announced today.
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Published: 16 Dec 2023, 11:48 AM IST
