BENGALURU, Aug 22 (Reuters) – Indian stationery maker Doms Industries has filed for an preliminary public providing price 12 billion rupees ($144.53 million), draft papers filed with the market regulator confirmed on Tuesday.

Doms will challenge new shares price 3.5 billion rupees, whereas current shareholders will promote shares price 8.5 billion rupees, the draft prospectus confirmed.

Milan-listed FILA Fabbrica Italiana Lapis ed Affini SpA (FILA.MI), which holds a 51% stake within the firm, is promoting shares price 8 billion rupees.

Doms, which competes with Kokuyo Camlin (KOCL.NS), Linc (LINC.NS) and Pidilite Industries (PIDI.NS), goals to make use of proceeds from the recent challenge of shares to partially finance the price of organising a brand new manufacturing facility, it stated.

Kokuyo Camlin shares surged 71% and Linc 53% to date this 12 months amid sturdy demand for stationery publish the pandemic. They outpaced a 7% rise within the blue-chip Nifty 50 (.NSEI), which has retreated from report highs on account of moderating overseas inflows, worries over U.S. Federal Reserve’s rate of interest hikes and development considerations in China.

Pidilite, which makes industrial adhesives and chemical compounds, has slipped 2% this 12 months.

Doms posted a internet revenue of 958.1 million rupees in fiscal 2023, a close to seven-fold leap from a 12 months earlier. Its income surged 77% to 12.12 billion rupees.

JM Financial, BNP Paribas, ICICI Securities and IIFL Securities are book-running lead managers to Doms’ IPO.

($1 = 83.0261 Indian rupees)

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