DOMS Industries Plummets as Promoter Likely Sells 7.3% Stake in Block Deal for Nearly ₹1,000 Crore

DOMS Industries Plummets as Promoter Likely Sells 7.3% Stake in Block Deal for Nearly ₹1,000 Crore​

DOMS Industries witnessed a sharp decline in early trade on Wednesday after reports surfaced regarding a significant block deal involving the promoter entity, Fila - Fabbrica Italiana Lapis Ed Affini Spa. The stock fell sharply following news that the company's founder held likely sold a substantial portion of its equity stake.

The immediate reaction in the market was pronounced. DOMS Industries shares experienced volatility, falling as much as 4.92 percent to an intraday low of Rs 2,200 on the NSE. However, the stock managed to recover some losses later in the trading session. At 9:40 am, the share price was recorded at Rs 2,246.90, which represented a decline of 2.9 percent.

The Block Deal Details and Market Reaction​

The market reacted negatively to the news of the block deal transaction. As reported, up to 44.1 lakh shares were traded, representing a 7.3 percent equity stake in DOMS Industries. This sale was valued at approximately Rs 980.6 crore, driving down investor confidence temporarily.

The movement highlights how institutional sell-offs and promoter activity are closely monitored by the market. The reported transaction details pertain to a significant block deal that executed on Wednesday.

Promoter Stake Sold in DOMS Industries​

The stake sale involves Fila - Fabbrica Italiana Lapis Ed Affini Spa, which is connected to the company's founding structure. Previous reports had outlined the potential scale of the sale. Earlier indications from Tuesday reported that FILA was looking to dispose of up to a 7 percent stake in DOMS Industries.

The initial deal size for the promoter’s interest was pegged at 5.2 percent equity, with an additional option for an upsize of 1.8 percent. The transaction floor price was fixed at Rs 2,100 per share. This represented a discount of around 9 percent compared to the previous closing market price.

Promoter Holdings Before Sale Transaction​

Prior to this reported block deal, corporate filings reflected a substantial level of ownership by Fila. Shareholding data available on the exchanges indicated that Fila - Fabbrica Italiana Lapis Ed Affini Spa held a 26.01 percent stake in DOMS Industries at the close of the March quarter.