- Fabbrica Italiana Lapis Ed Affini to sell up to 7% stake in DOMS Industries on June 17
- Stake sale valued at Rs 892 crore with shares priced at Rs 2,100 each at 9.2% discount
- JPMorgan and BNP Paribas appointed as bankers for the stake sale transaction
Stake worth up to Rs 892 crore of DOMS Industries Ltd. is set to be offloaded by Fabbrica Italiana Lapis Ed Affin on June 17, Wednesday according to sources close to the matter, cited by NDTV Profit on Tuesday.
Italian Promoter Fabbrica Italiana Lapis Ed Affini is set to shed up to 7% of its stake of the stationery company. JPMorgan and BNP Paribas will be the bankers for the deal. The stake will be sold at Rs 2,100 per share, with a 9.2% discount to the current market price.
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The base offer is of 5.2% of equity along with green shoe option of 1.8% of the shares. Fabbrica Italiana is set to hold 19% of the stake after the deal which will be locked-in for a period of 90 days.
Share price of DOMS Industries closed 1.94% higher to Rs 2,314 at the end of the days' trade, compared to a 0.57% uptick in the NSE Nifty 50. The stock opened at Rs 2,280.00, compared to its previous close of Rs 2,270.00.
During today's trading session, Doms Industries Ltd share price moved in the range of Rs 2,240.00 to Rs 2,337.00.
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Looking at its last 52-week performance, the stock has touched a low of Rs 2,023.90 and a high of Rs 2,770.00. On the performance front, Doms Industries Ltd share price is down 2.48% on a year-on-year basis.
The market capitalization of Doms Industries Ltd is Rs 15,741.75 crore, with a P/E ratio of 65.29.
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