Crow Verdict: I think the primary market, aided by the current bull run, is as buoyant as it's never been before. Fundamentals, business models, moats, and longterm views no longer form the criteria for IPO subscription today. Word of mouth, active institutional participation, and grey premium are all that matters. At least in my experience, and it would be foolish not to ride this wave. DOMS is one of the first birds to be brought up in this post-Tata Tech and IREDA buoyant market. The business is uninteresting, just like Flair's and unlike Cello's which has diversified from stationery business. I don't see huge prospects for DOMS but for the time being all I see kids using today are DOMS stationery.
Except for the high asking price, I don't see any major red flag in this issue. The high GMP then baffles me and makes me question its sustenance till listing. Still, I don't see any loss here, so I will apply with full force. Allotment will anyway be difficult.
Crow's skin in the game: 3 retail applications
Crow's last APPLY recommendation: Flair Writing Industries (65% listing pop with post-listing LC; currently up 25%)
Always in restraint of Mrs. Crow.