The board of DOMS, an Indian subsidiary of Fabbrica Italiana Lapis ed Affini (Fila), the renowned Italian pencil manufacturer, has given the green light for an initial public offering (IPO). Fila, the parent company, has announced plans to offer approximately €90 million in share capital to potential investors, while retaining a 51% stake in DOMS, making it the largest shareholder post-IPO.
According to the parent company, the IPO is expected to be finalized by the end of this year. The move comes after earlier reports in April, indicating that Indian stationery maker DOMS was planning to file for an IPO in Mumbai, with expected proceeds ranging between $200 million to $300 million.
DOMS, which traces its origins back to 1975 with the founding of pencil manufacturer R.R. Industries, is the flagship firm of RR Group. The company's stationary brand "Doms" was launched in 2006, and it currently operates more than 15 production facilities across India. Their diverse range of products, including pencils, erasers, and rulers, are distributed in over 50 countries.
Fila's involvement with DOMS began in 2012 when it acquired an 18.5% stake for €5.4 million. Over the years, Fila increased its stake, becoming the largest shareholder in the Indian stationery maker.
Investors and industry experts eagerly anticipate the IPO, expecting significant interest in the upcoming offering due to DOMS' established presence in the stationary market and Fila's reputation as a prominent global player in the pencil manufacturing industry.
