Thursday, February 22nd, 2024

This company’s IPO will open on December 13, price band has also arrived, LIC shares at 52 week high

Photo:FILE The IPO of the pencil manufacturing company will open on December 13 and close on December 15.

This is again a great opportunity for investors to earn money through IPO. The price band for the Rs 1,200 crore initial public offering (IPO) of pencil major Domes has been fixed at Rs 750-790 per share. The company gave this information on Thursday. The IPO of the second largest pencil manufacturing company will open on December 13 and close on December 15. The company, based in Umbergaon, a coastal town in Valsad, said the issue will include an offer for sale (OFS) worth Rs 850 crore and new shares worth Rs 350 crore.

Domes has 30 percent share of pencil market

The company’s Chief Financial Officer (CFO) Rahul Shah told reporters here that the minimum price of the share is 75 times and the maximum price is 79 times the face value of the equity share. Umbergaon of Gujarat is called the pencil city of the country. The two largest pencil companies – Domes and Hindustan Pencils – are located here. While Domes holds 30 percent share of the country’s pencil market, Hindustan Pencils holds 40 percent market share.

LIC shares at 52 week high

With the shares of public sector Life Insurance Corporation of India (LIC) reaching a 52-week high, the market cap of the company reached close to Rs 5 lakh crore on Thursday. The company’s shares rose 5.34 percent to Rs 785.50 on BSE. In the National Stock Exchange, the share stood at Rs 785.15 with a rise of 5.25 percent. With Thursday’s rise, LIC shares have risen another 19 percent this week.

With this it has become the second largest public sector company in terms of market capitalization. During trading, LIC shares had reached a 52-week high of Rs 800 per share in NSE. Whereas in BSE it had reached Rs 799.90 per share.

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