Pencil Maker Doms Eyes $300 Million IPO Filing in June, Sources Say
Indian stationery company Doms Industries Pvt. is planning to file as soon as June for an initial public offering in Mumbai that could raise $200 million to $300 million, according to people familiar with the matter.
(Bloomberg) -- Indian stationery company Doms Industries Pvt. is planning to file as soon as June for an initial public offering in Mumbai that could raise $200 million to $300 million, according to people familiar with the matter.
The company, which is majority owned by Milan-based Fabbrica Italiana Lapis ed Affini SpA, has been working with its advisers on the share sale, the people said. A listing could happen as early as this year, said one of the people, who asked not to be identified as the information is private.
Deliberations are ongoing and details of the IPO including size and timeline could still change, the people said. Representatives for Doms and Fila didn’t immediately respond to requests for comment.
Doms traces its roots to 1975 with the founding of pencil manufacturer R.R. Industries, the flagship firm of RR Group, according to its website. RR Group launched the stationary brand Doms in 2006 and later consolidated its operations based in Umbergaon and renamed as Doms. The company runs more than 15 production facilities in India and its products, including pencils, erasers and rulers, are available in over 50 countries.
Fila, which makes Giotto coloring pencils and Canson papers, first bought an 18.5% stake in Doms for €5.4 million ($5.9 million) in 2012. The Italian firm decided to raise its holding to 51% three years later, becoming the largest shareholder of the Indian stationary maker.
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