New Delhi:The Initial Public Offer (IPO) of stationery products maker DOMS Industries Limited will open for subscription on Wednesday. The three day IPO, which closes on December 15, has set the price band in the range of Rs 750 to Rs 790.

The IPO, comprises a fresh issue of Rs 350 crore, and an Offer For Sale (OFS) of Rs 850 crore, as outlined in the Red Herring Prospectus (RHP).

The Company intends to use the proceeds of the Fresh Issue to part finance the cost of establishing a new manufacturing facility to expand its production capabilities for a wide range of writing instruments, water colour pens, markers and highlighters, it said.

JM Financial Limited, BNP Paribas, ICICI Securities Limited and IIFL Securities Limited are the book running lead managers to the Offer.

The issue will see its Italian partner Fila (Fabbrica Italiana Lapis ed Affini), which owns 51 percent in the firm with an investment of about Rs 300 crore since 2012, selling its stake for about Rs 800 crore.

The promoter family, led by Santosh Rasiklal Raveshia (managing director), Ketan Mansukhlal Rajani (director), Sanjay Mansukhlal Rajani, and Chandni Vijay Somaiya will sell their stake through a mix of OFS and fresh equity worth Rs 400 crore.