Shares of DOMS Industries made a stellar debut at the bourses on Monday after a blockbuster IPO. Meanwhile, India Shelter Finance Corporate (ISFCL) made a decent gain of 10 per cent on listing day.

As against the IPO price of ₹790, DOMS Industries was listed at ₹1,400 on the BSE and surged further to ₹1,434.25. However, profit taking and sudden weakness in secondary market wore out the stock, which closed at ₹1,330.85, a gain of 68.5 per cent over the IPO price. On the NSE, it closed at ₹1,326.05, after hitting a high of ₹1,434 and a low of ₹1,302.

The IPO was subscribed 93.52 times overall, with QIB portion receiving nearly 116 times. Retail investors and non-institutions portions subscribed 69.67 times and 66.51 times respectively.

  • Also Read: IPO screener. Retail investors pouring in money in DOMS Industries

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, “We believe valuations would go over-tretched discounting next one-year earnings growth. Hence, we recommend allotted investors to book profits while those who failed to get allotments in the public offer can wait and watch for reasonable dips for the long term.”

The stationery major had raised ₹538 crore from anchor investors ahead of IPO.

The IPO comprised a fresh issue of ₹350 crore and an offer for sale (OFS) worth ₹850 crore. Net proceeds of the issue will be used to finance a new facility for a wide range of writing instruments, watercolour pens, markers and highlighters besides general corporate purposes.

ISFCL opens strong

Shares of ISFCL were listed at ₹612.70 on the BSE, against IPO price of ₹493, but surrendered most of the gains to close at ₹543.50, up 10.24 per cent over the issue price. On the NSE, it closed at ₹544.70. The ₹1,200-crore (₹800 crore fresh issue and ₹400 crore OFS) public issue of ISFCL was subscribed 36.71 times.

  • Also Read: IPO screener: All eyes on DOMS Industries listing today

ISFCL, a major player in affordable housing segment, raised ₹360 crore from anchor investors.