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<ul><li>QIB investor portion of the issue was subscribed over 115 times.</li><li>Retail and NII portions were subscribed over 60 times each. </li><li>The company raised ₹537.7 crore from 55 anchor investors ahead of the issue.</li></ul> Stationery maker Doms’ initial public offer (IPO) was subscribed 93 times the shares on offer on Friday. The ₹1,200 crore offer saw stellar participation from all classes of investors. Qualified Institutional Buyer (QIB) portion of the issue was subscribed 115 times the shares on offer. Retail investor portion was subscribed 69 times, and non-institutional investor (NII) portion was subscribed 66x. The issue had a price band of ₹750-790 per share. The company raised ₹537.7 crore from 55 anchor investors before opening it for the public. The issue is a combination of fresh equity to the tune of ₹350 crore and offer for sale component is at around ₹850 crore. The company intends to use net proceeds from the fresh issue to set-up a new manufacturing facility in addition to general corporate purposes. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">115.97 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">66.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69.1 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">93.4 </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: BSE Dominant player with high brand recall The Gujarat-based stationery and art product maker is one of India’s largest such players with a wide distribution reach. It has a 12% market share in the organized stationery market with around 30% share in pencils and ‘mathematical instrument boxes’. “Doms in a different league altogether. Its distribution is good, and has shown a phenomenal growth since the Covid pandemic and its fundamentals are in place,” <keyword id="127547" type="General" weightage="50" keywordseo="arun-kejriwal" source="Orion">Arun Kejriwal</keyword>, founder at Kejriwal Research &amp; Investment Services, tells Business Insider India. It also sells other scholastic stationery, art material, paper stationery, office supplies and more. “They have the widest breadth of product categories amongst their peers in India. Their presence across multiple categories and price points has enabled them to be the fastest growing such company in terms of revenue,” said a report by <keyword id="84326" type="General" weightage="50" keywordseo="anand-rathi" source="Orion">Anand Rathi</keyword>. Its listed peers in the market are <keyword id="1889881" type="General" weightage="50" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>, Linc and Pidilite Industries. It is also expanding internationally and has forged a joint venture with Italian multinational company FILA. It gives them access to international markets, and also augments their R&amp;D and technological capabilities. “Their symbiotic association with FILA, based on mutual synergies, has resulted in expansion of their international footprint in key American and European markets and has helped in the global distribution of ‘Doms’ brand,” said a report by Axis Capital.

Investors make a beeline for Doms, issue subscribed 93x

<ul><li>The stationery maker Doms will open its ₹1,200 crore initial public offer (IPO) on December 13 and close on December 15.</li><li>The company intends to use net proceeds from the fresh issue to set-up a new manufacturing facility and general corporate purposes.</li><li>The grey market is bullish on the public offer, as it expects 52% listing gains from the stock. </li></ul>After a bumper IPO fundraising in November, the December season of public offers will be kicked off by pencil maker Doms. The Gujarat based stationery and office supplies maker Doms will open its ₹1,200 crore initial public offer (IPO) on December 13 and close on December 15. It has fixed a price band of ₹750-790 per share. The grey market is bullish on the public offer, as it expects 52% listing gains from the stock. The issue is a combination of fresh equity to the tune of ₹350 crore and offer for sale component is at around ₹850 crore. The company intends to use net proceeds from the fresh issue to set-up a new manufacturing facility in addition to general corporate purposes. As much as 10% of the issue will be offered for retail investors, and the bid lot is 18 shares and in multiples thereof. About the company The Gujarat-based company was set-up in 1973 as a partnership firm, RR Industries by founders — late Rasiklal Amritlal Raveshia and late Mansukhlal Jamnadas Rajani. After a long series of changes it built its brand ‘Doms’ under which it now sells scholastic stationery, art material, paper stationery, office supplies and more. It had around 12% market share in branded stationery and art materials market in FY23. Its core products such as pencils and ‘mathematical instrument boxes’ enjoy 29% and 30% market share by value in FY23, as per Technopak Report. Its products are manufactured in Umbergaon at Gujarat and Bari Brahma in Jammu and Kashmir. As on March 31, 2023, it had seven warehouses, two depots, over 100 super stockists, and over 3,750 distributors across the country. Its listed peers in the market are <keyword id="1889881" type="General" weightage="80" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>, <keyword id="19741385" type="General" weightage="50" keywordseo="linc-and-pidilite-industries" source="Orion">Linc and Pidilite Industries</keyword>. Financial performance &amp; risk factors Its revenue from operations grew at a CAGR of 73.45% from FY21 to FY23. Its EBITDA margin more than doubled from 7.45% to 15.4% over FY21 to FY23, the company said in its DRHP. The company which posted losses in FY21, turned around in FY22. “Such loss was predominantly due to Covid-19 related lockdown, which resulted in the closure of domestic and export markets, especially educational institutions, offices and workplaces and retail outlets,” the company said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,211 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹683 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹402 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹102 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(₹6 crore) </td></tr></tbody></table>Source: DRHP It generates a significant portion of our sales from its top selling product of wooden pencils, which contributed to 31.6% of total sales in FY23. More than 70% of its sales comes from general trade channels where it sells products directly to super-stockists, who then sell onward to distributors, wholesalers, retailers and more. Over 60% of its exports business is driven by its Italian partner FILA. It is involved in two material civil litigations — one by it and one against it. One of its civil litigations involves a suit filed against it by Kokuyo <keyword id="152149" type="General" weightage="80" keywordseo="camlin" source="Orion">Camlin</keyword> for alleged infringement and passing off of certain designs in relation to mathematical instrument boxes, compasses, and dividers which are registered in the to Camlin. It also has 9 tax and statutory/regulatory proceedings against it. Its promoters and directors have six cases against them, including criminal and statutory/regulatory proceedings.

Pencil maker Doms to kick off December IPO season, fixes price band at ₹750-790

<ul><li>Doms has 12% market share in India’s branded stationery and art material market.</li><li>Recently listed stationery players Flair and Cello World gave good listing gains.</li><li>The grey market expects 61% listing gains from Doms. </li></ul>Few school-going children and their parents would be unaware of Doms. The high recall value and its dominant market position will help the ₹1,200 crore public offer is expected to sail through easily, say experts. Stationery makers Flair and Cello World recently made their successful market debuts providing 49% and 22% listing gains respectively. The IPO of Doms, India’s second largest branded stationery and art products maker, will only be better, say experts. “Neither of them are in a dominant position in the market. Doms in a different league altogether. Its distribution is good, and has shown a phenomenal growth since the Covid pandemic and its fundamentals are in place,” <keyword id="127547" type="General" weightage="50" keywordseo="arun-kejriwal" source="Orion">Arun Kejriwal</keyword>, founder at Kejriwal Research &amp; Investment Services, tells Business Insider India. A wide range of products The company sells scholastic stationery, art material, paper stationery, office supplies and more. It had around 12% market share in branded stationery and art materials market in FY23. Its core products such as pencils and ‘mathematical instrument boxes’ enjoy 29% and 30% market share by value in FY23. “They have the widest breadth of product categories amongst their peers in India. Their presence across multiple categories and price points has enabled them to be the fastest growing such company in terms of revenue,” said a report by Anand Rathi which gives it a ‘subscribe for long-term’ rating. Its listed peers in the market are <keyword id="1889881" type="General" weightage="50" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>, Linc and Pidilite Industries. Kejriwal too says that the company is focussed on growth. “Based on interactions with the management, they seem focussed on growing volumes and expanding the business,” he adds. The grey market too is placing its bets on the company, as it expects 61% listing gains from the stock. Experts say that this is because only 10% of the offer is earmarked for retail investors, and a lot of people are expected to apply for the issue. The issue will open on December 13 and close on December 15, and has fixed a price band of ₹750-790 per share. The post-Covid turnaround The company posted losses in FY21 due to Covid-19 related lockdown, which resulted in the closure of domestic and export markets, especially educational institutions, offices and workplaces and retail outlets. Ever since, however, it has shown a steady growth. Its revenue from operations grew at a CAGR of 73.45% from FY21 to FY23. Its EBITDA margin more than doubled from 7.45% to 15.4% over FY21 to FY23, the company said in its DRHP. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,211 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹683 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹402 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹102 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(₹6 crore) </td></tr></tbody></table>Source: DRHP A wide distribution Doms operates 14 manufacturing facilities in Gujarat and <keyword id="18509534" type="General" weightage="50" keywordseo="bari-brahma" source="Orion">Bari Brahma</keyword> in Jammu and Kashmir. It intends to use the net proceeds from the fresh issue to set-up a new manufacturing facility in addition to general corporate purposes. It also has a wide reach and a strong domestic distribution network of over 120 super-stockists, and 4,000 distributors along with a dedicated sales team of over 500 personnel covering more than 120,000 retail touch points over 3,500 cities and towns. It is also expanding internationally and has forged a joint venture with Italian multinational company FILA. It gives them access to international markets, and also augments their R&amp;D and technological capabilities. “Their symbiotic association with FILA, based on mutual synergies, has resulted in expansion of their international footprint in key American and European markets and has helped in the global distribution of ‘Doms’ brand,” said a report by Axis Capital. They also have an exclusive tie-up with certain entities of the FILA Group, for distribution and marketing for all categories of their respective products, under their name and trademark, in India, Nepal, Bhutan, Sri Lanka, Bangladesh, Myanmar, and Maldives. Rooted firmly in its home market, it’s eyeing exports with a focus on backward integration to drive efficiencies. All of it makes Doms a long-term bet, say analysts. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a> <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-stock-doubles-investor-money-on-debut/articleshow/105609598.cms">Va va vroom: Tata Technologies stock doubles investor money on debut</a>

Child’s Play: High recall and dominant position add to Doms’ appeal

<ul><li>The stock listed on D-Street at ₹1,400 as compared to an issue price of ₹790 per share. </li><li>The grey market had expected a 62% listing gain from the stock. </li><li>The market cap of the company is at ₹8,496.21 crore according to BSE.</li></ul>Stationary major <keyword id="7268674" type="General" weightage="100" keywordseo="doms-industries" source="Orion">Doms Industries</keyword> made its D-street debut at a 77% premium on Wednesday. The stock has listed at ₹1,400 as compared to the issue price of ₹790 per share. The grey market had expected a 62% listing gain from the stock. The market cap of the company is at ₹8,496.21 crore according to BSE. The ₹1,200 crore offer was subscribed as subscribed 93 times the shares on offer. Qualified Institutional Buyer (QIB) portion of the issue was subscribed 115 times the shares on offer. Retail investor portion was subscribed 69 times, and non-institutional investor (NII) portion was subscribed 66x. The issue had a price band of ₹750-790 per share. The company raised ₹537.7 crore from 55 anchor investors before opening it for the public. The issue is a combination of fresh equity to the tune of ₹350 crore and offer for sale component is at around ₹850 crore. The company intends to use net proceeds from the fresh issue to set-up a new manufacturing facility in addition to general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><thead><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </th></tr><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </th></tr><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gandhar Oil </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78% </th></tr><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fedbank Financial Services </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0% </th></tr><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </th></tr><tr><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASK Automotive </th><th style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </th></tr></thead></table> <cmsannotation type="cmsannotation" annotationid="Dominant player with high brand recall" comment="subhead" text="Dominant player with high brand recall">Dominant player with high brand recall</cmsannotation> The Gujarat-based stationery and art product maker is one of India’s largest such players with a wide distribution reach. It has a 12% market share in the organised stationery market with around 30% share in pencils and ‘mathematical instrument boxes’. “Doms in a different league altogether. Its distribution is good, and has shown a phenomenal growth since the Covid pandemic and its fundamentals are in place,” Arun Kejriwal, founder at Kejriwal Research &amp; Investment Services, tells Business Insider India. It also sells other scholastic stationery, art material, paper stationery, office supplies and more. “They have the widest breadth of product categories amongst their peers in India. Their presence across multiple categories and price points has enabled them to be the fastest growing such company in terms of revenue,” said a report by Anand Rathi. Its listed peers in the market are <keyword id="1889881" type="General" weightage="80" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>, Linc and Pidilite Industries.

Doms Industries lists at over 77% premium exceeding grey market expectations

<ul><li><keyword id="7268674" type="General" weightage="80" keywordseo="doms-industries" source="Orion">DOMS Industries</keyword> is expected to announce its share allotment status on Monday, December 18.</li><li>The shares of <keyword id="1312624" type="General" weightage="100" keywordseo="doms" source="Orion">DOMS</keyword> Industries were subscribed 93.39 times.</li><li>The shares are expected to be listed on the stock exchanges on December 20.</li></ul> Gujarat-based DOMS Industries, one of the country’s largest stationery manufacturers is expected to announce the allotment status of its initial public offering (IPO) on Monday, December 18. The DOMS Industries IPO opened on December13 and closed on December 15. The price band for the IPO was ₹750 to ₹790 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the DOMS Industries IPO was subscribed 93.39 times, receiving bids for 82.52 crore equity shares against 88.37 lakh shares on offer. While the qualified institutional buyer portion was subscribed 115.97 times, the non-institutional investors portion was subscribed 66.47 times. The retail portion also witnessed good participation and was subscribed 69.05 times. The employee portion was subscribed 28.73 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of DOMS Industries are currently commanding a grey market premium (GMP) of ₹530 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19831922" type="General" weightage="20" keywordseo="doms-industries-ipo-allotment" source="Orion">DOMS Industries IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘DOMS Industries’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the DOMS Industries <keyword id="35223" type="General" weightage="20" keywordseo="ipo-allotment" source="Orion">IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘DOMS Industries’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="DOMS Industries IPO listing date" comment="subhead" text="DOMS Industries IPO listing date">DOMS Industries IPO listing date</cmsannotation> The shares of DOMS Industries will be listed on the stock exchanges on December 20. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/childs-play-high-recall-and-dominant-position-add-to-doms-appeal/articleshow/105923825.cms">Child’s Play: High recall and dominant position add to Doms’ appeal</a> <a href="https://www.businessinsider.in/stock-market/webstories/doms-industries-ipo-check-out-open-date-and-price-band/slidelist/105831826.cms">DOMS to raise ₹1,200 cr via IPO: Journey, investors and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-review-flagship-performance-and-cameras-at-an-affordable-price/articleshow/105937154.cms">iQOO 12 review – flagship performance and cameras at an affordable price</a>

DOMS IPO allotment – How to check allotment, GMP, listing date and more

The <keyword id="6354424" type="General" weightage="100" keywordseo="world-bank" source="Orion">World Bank</keyword>'s latest Migration and Development Brief reveals a continuing growth in remittance flows to low- and middle-income countries (LMICs) in 2023, albeit at a slower pace compared to previous years. According to the World Bank, the report highlights <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s significant position as the top remittance recipient, drawing attention to the evolving dynamics in the remittance landscape. Remittances to LMICs grew by an estimated 3.8 per cent in 2023, reaching a total of USD669 billion. Resilient labour markets in advanced economies and Gulf Cooperation Council (GCC) countries played a pivotal role in supporting migrants' ability to send money home. The report suggests a potential risk of a decline in real income for migrants in 2024 due to global inflation and low growth prospects. In the South Asian region, remittance flows to India experienced notable growth, contributing to the overall positive trend. South Asia, as a whole, witnessed a 7.2 per cent increase in remittances in 2023. The Indian economy, buoyed by a tight labour market in the United States and robust employment growth in Europe, outperformed previous forecasts by reaching USD125 billion in remittances for the year. Despite the positive trajectory, the report underscores challenges and potential risks. The Middle East and North Africa saw a decline in remittance flows for the second consecutive year, mainly driven by a sharp drop in flows to Egypt. Remittance flows to Europe and Central Asia also decreased by 1.4 per cent after a significant gain in 2022. India retained its position as the largest recipient of remittances, with an estimated USD125 billion in 2023. This underscores the crucial role played by the Indian <keyword id="57609" type="General" weightage="80" keywordseo="diaspora" source="Orion">diaspora</keyword> in supporting families and contributing to the country's economic resilience. The top five remittance recipient countries include Mexico (USD 67 billion), China (USD 50 billion), the Philippines (USD 40 billion), and Egypt (USD 24 billion). The report raises awareness about the potential impact of global economic conditions on remittance flows. The expectation of weaker economic activity in several high-income countries and the prospect of weaker job markets may soften the growth of remittances to LMICs, projecting a 3.1 per cent increase in 2024. The need for caution is emphasized, considering volatile oil prices, currency exchange rates, and the possibility of a deeper-than-expected economic downturn in high-income countries. The World Bank's Remittances Prices Worldwide Database reveals that remittance costs remain persistently high, averaging 6.2 per cent to send USD 200 as of the second quarter of 2023. The report highlights that banks continue to be the costliest channel for sending remittances, with an average cost of 12.1 per cent. A special section of the report emphasizes the potential of leveraging remittances for development finance, particularly through diaspora bonds. Diaspora bonds can be structured to tap into diaspora savings held in foreign destinations, providing a stable source of funds. The report suggests that remittances have surpassed the sum of foreign direct investment and official development assistance in recent years, presenting opportunities for private capital mobilization. India's prominence in the global remittance landscape is a testament to the significant role played by the Indian diaspora in supporting the country's economy. While challenges and risks persist, the report emphasizes the need for inclusive labour markets and social protection policies to sustain remittance flows, which serve as vital lifelines for developing countries like India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms" target="_blank">Motisons Jewellers IPO at a glance – Price band to risk factors</a><a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank">DOMS IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank">India Shelter Finance IPO allotment – How to check allotment, GMP, listing date and more</a>

India tops global remittance charts at $125 billion in 2023: World Bank report

<ul><li><keyword id="3174903" type="General" weightage="20" keywordseo="muthoot-microfin" source="Orion">Muthoot Microfin</keyword> is expected to announce its share allotment status on Thursday, December 21.</li><li>The shares of Muthoot Microfin were subscribed 11.50 times.</li><li>The shares are expected to be listed on the stock exchanges on December 22.</li></ul>Kochi-based Muthoot Microfin, which offers micro-loans to female customers, especially in rural areas is expected to announce the allotment status of its initial public offering (IPO) on Thursday, December 21. The <keyword id="17872074" type="General" weightage="100" keywordseo="muthoot-microfin-ipo" source="Orion">Muthoot Microfin IPO</keyword> opened on December 18 and closed on December 20. The price band for the IPO was ₹277 to ₹291 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the Muthoot Microfin IPO was subscribed 11.50 times, receiving bids for 28.04 crore equity shares against 2.44 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 17.47 times, the non-institutional investors portion was subscribed 13.20 times. The retail portion witnessed decent participation and was subscribed 7.57 times. The employee portion was subscribed 4.90 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Muthoot Microfin are currently commanding a grey market premium (GMP) of ₹60 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19884326" type="General" weightage="20" keywordseo="muthoot-microfin-ipo-allotment" source="Orion">Muthoot Microfin IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘Muthoot Microfin’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Muthoot Microfin IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Muthoot Microfin’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Muthoot Microfin listing date" comment="subhead" text="Muthoot Microfin listing date">Muthoot Microfin listing date</cmsannotation> The shares of Muthoot Microfin will be listed on the stock exchanges on December 22. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/most-expensive-players-in-ipl-till-ipl-2024/slidelist/106147649.cms">Mitchell Starc to Yuvraj Singh, the most expensive players in IPL history</a> <a href="https://www.businessinsider.in/stock-market/news/doms-industries-lists-at-over-77-premium-exceeding-grey-market-expectations/articleshow/106142041.cms">Doms Industries lists at over 77% premium exceeding grey market expectations</a> <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms">Multi-device support to chat lock – key features introduced by WhatsApp in 2023</a>

Muthoot Microfin IPO allotment – How to check allotment, GMP, listing date and more

<ul><li><keyword id="5871389" type="General" weightage="100" keywordseo="motisons-jewellers" source="Orion">Motisons Jewellers</keyword> is expected to announce its share allotment status on Thursday, December 21.</li><li>The shares of Motisons Jewellers were subscribed 159.21 times.</li><li>The shares are expected to be listed on the stock exchanges on December 22.</li></ul> Jaipur-based Motisons Jewellers, jewellery maker that sells gold, diamond, kundan jewellery, silver, platinum and other metals is expected to announce the allotment status of its initial public offering (IPO) on Thursday, December 21. The <keyword id="16939610" type="General" weightage="20" keywordseo="motisons-jewellers-ipo" source="Orion">Motisons Jewellers IPO</keyword> opened on December 18 and closed on December 20. The price band for the IPO was ₹52 to ₹55 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Motisons Jewellers IPO was subscribed 159.21 times, receiving bids for 332.29 crore equity shares against 2.09 crore shares on offer. While the qualified institutional buyer portion was subscribed 157.40 times, the non-institutional investors portion was subscribed 233.80 times. The retail portion also witnessed excellent participation and was subscribed 121.56 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Motisons Jewellers are currently commanding a grey market premium (GMP) of ₹100 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19884006" type="General" weightage="20" keywordseo="motisons-jewellers-ipo-allotment" source="Orion">Motisons Jewellers IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Motisons Jewellers’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Motisons Jewellers IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Motisons Jewellers’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Motisons Jewellers IPO listing date" comment="subhead" text="Motisons Jewellers IPO listing date">Motisons Jewellers IPO listing date</cmsannotation> The shares of Motisons Jewellers will be listed on the stock exchanges on December 22. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/most-expensive-players-in-ipl-till-ipl-2024/slidelist/106147649.cms">Mitchell Starc to Yuvraj Singh, the most expensive players in IPL history</a> <a href="https://www.businessinsider.in/stock-market/news/doms-industries-lists-at-over-77-premium-exceeding-grey-market-expectations/articleshow/106142041.cms">Doms Industries lists at over 77% premium exceeding grey market expectations</a> <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms">Multi-device support to chat lock – key features introduced by WhatsApp in 2023</a>

Motisons Jewellers IPO allotment – How to check allotment, GMP, listing date and more

<ul><li><keyword id="18287658" type="General" weightage="20" keywordseo="india-shelter-finance" source="Orion">India Shelter Finance</keyword> is expected to announce its share allotment status on Monday, December 18.</li><li>The shares of India Shelter Finance were subscribed 36.6 times.</li><li>The shares are expected to be listed on the stock exchanges on December 20.</li></ul>Gurugram-based India Shelter Finance, which is engaged in the business of housing finance, is expected to announce the allotment status of its initial public offering (IPO) on Monday, December 18. The <keyword id="18287656" type="General" weightage="20" keywordseo="india-shelter-finance-ipo" source="Orion">India Shelter Finance IPO</keyword> opened on December 13 and closed on December 15. The price band for the IPO was ₹469 to ₹493 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the India Shelter Finance IPO was subscribed 36.6 times, receiving bids for 65.59 crore equity shares against 1.79 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 89.70 times, the non-institutional investors portion was subscribed 28.51 times. The retail portion witnessed average participation and was subscribed 9.95 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of India Shelter Finance are currently commanding a grey market premium (GMP) of ₹165 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19855162" type="General" weightage="100" keywordseo="india-shelter-finance-ipo-allotment" source="Orion">India Shelter Finance IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘India Shelter Finance’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the India Shelter Finance IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘India Shelter Finance’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="India Shelter Finance listing date" comment="subhead" text="India Shelter Finance listing date">India Shelter Finance listing date</cmsannotation> The shares of India Shelter Finance will be listed on the stock exchanges on December 20. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms">DOMS IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/news/race-for-indias-richest-the-gap-between-gautam-adani-and-mukesh-ambani-is-narrowing/articleshow/105953650.cms">Race for India’s richest – The gap between Gautam Adani and Mukesh Ambani is narrowing</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-hyundai-mahindra-and-other-car-companies-offering-big-discounts-in-december-2023-month/articleshow/105809628.cms">Maruti Suzuki to Hyundai – car makers offer huge year-end discounts to push sales</a>

India Shelter Finance IPO allotment – How to check allotment, GMP, listing date and more

<ul class="summary-list"><li><keyword id="528308" type="PERSON" weightage="60" keywordseo="John-Cena">John Cena</keyword> faced criticism in <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> after referring to <keyword id="46274" type="COUNTRY" weightage="60" keywordseo="Taiwan">Taiwan</keyword> as a country in an interview for "<keyword id="6812889" type="UNKNOWN" weightage="60" keywordseo="F9">F9</keyword>."</li><li>In a Weibo video shared Tuesday, Cena said he "made a mistake" and apologized in Mandarin.</li><li>Calling Taiwan a sovereign nation is <a href="https://www.nytimes.com/2021/05/25/world/asia/john-cena-taiwan-apology.html">deemed "offensive" by many people in China</a>, per NYT.</li></ul>John Cena, an actor and professional wrestler, expressed his "love and respect" for China after generating backlash among Chinese fans for referring to Taiwan as a country.The criticism began following the 44-year-old's recent interview with Taiwanese broadcast TV channel <a href="https://news.tvbs.com.tw/entertainment/1505975">TVBS</a> to promote "F9," the latest film in the "<keyword id="1033712" type="ORGANIZATION" weightage="60" keywordseo="Fast-and-furious">Fast and Furious</keyword>" franchise.Speaking in Mandarin, a language Cena has <a href="https://www.sportskeeda.com/wwe/wwe-news-john-cena-talks-about-his-reason-for-learning-mandarin#:~:text=WWE%20Superstar%20John%20Cena%20recently,he%20continues%20to%20practice%20it.">studied for years</a>, he reportedly said in the interview that Taiwan is "the first country that can watch 'F9.'"Taiwan is an autonomous democratic island physically separated from China by the Taiwan Strait. Though Taiwan has been <a href="https://www.bbc.com/news/world-asia-34729538">independently ruled</a> since the end of the Chinese Civil War, Beijing considers the island to be a renegade province that remains part of the country's territory. Taiwan, however, <a href="https://www.bbc.com/news/world-asia-55851052">views itself</a> as an independent state with its own leaders, military force, and constitution. As <a href="https://www.nytimes.com/2021/05/25/world/asia/john-cena-taiwan-apology.html">The New York Times' reporter Daniel Victor</a> states, calling Taiwan a sovereign nation, as Cena did during his interview with TVBS, is deemed "offensive" by many people in China.The actor, who plays Dom Toretto's long-lost brother in "F9," apologized for his "mistake" on Tuesday in a video he released on Weibo, a social-media platform that is popular in China. "I made a mistake. I must say now that, very very very importantly, I love and respect China and Chinese people," Cena <a href="https://www.bloomberg.com/news/articles/2021-05-25/movie-star-john-cena-apologizes-after-calling-taiwan-a-country">said in Mandarin</a>, according to Bloomberg, though the WWE star did not specifically mention Taiwan or get into the details of his earlier comment in the apology video. According to <a href="https://www.cnn.com/2021/05/25/media/john-cena-china-taiwan-f9-intl-hnk/index.html">CNN</a>, Cena's video has garnered over 7,000 responses on Weibo.Some expressed gratitude that Cena released the statement, pointing to his Mandarin proficiency and time spent in China as signs that he supports the country. "Looking at his previous interviews, I can feel that he really likes China," one user <a href="https://www.cnn.com/2021/05/25/media/john-cena-china-taiwan-f9-intl-hnk/index.html">wrote</a>, according to CNN. "He said the wrong thing and paid the price. He is different from other foreign actors who dare not respond or have different political opinions."Others, however, remained unconvinced of the actor's stance on the situation and felt the apology should have leaned further into politics. "Please say 'Taiwan is part of China' in Chinese, otherwise we will not accept," a commenter <a href="https://www.nytimes.com/2021/05/25/world/asia/john-cena-taiwan-apology.html">said</a>, according to the New York Times.Another user <a href="https://www.cnn.com/2021/05/25/media/john-cena-china-taiwan-f9-intl-hnk/index.html">wrote</a>, "I don't understand why the Chinese people should be so tolerant to him, who has a vague political stance while profiting from Chinese people."Representatives for Cena didn't immediately respond to Insider's request for comment.<div type="image" title="fast and furious 9" height="1308" width="2232" msid="82959239" hostid="261"></div>Last year China <a href="https://www.businessinsider.com/china-box-office-surpasses-north-america-worlds-biggest-this-year-2020-10#:~:text=The%20China%20box%20office%20has,this%20year%20with%20%242%20billion&amp;text=The%20China%20box%20office%20this,surpassing%20North%20America's%20%241.94%20billion.billion.">became Hollywood's biggest international market</a>, with its $1.99 billion in yearly earnings surpassing North America's $1.94 billion.Insider reporter <a href="https://www.businessinsider.com/what-chinas-box-office-dominance-means-for-hollywood-2021-4">Travis Clark</a> writes that research firm Ampere Analysis "expects China to remain the No. 1 market in the world indefinitely," especially as US theaters make a slow recovery from the coronavirus pandemic. The Chinese box office demonstrated its power during "F9's" opening weekend in the country. The ninth film in the popular franchise grossed $163 million internationally, <a href="https://deadline.com/2021/05/f9-opening-weekend-china-international-box-office-universal-fast-and-furious-1234760092/">with $136 million coming from Chinese theaters,</a> according to Deadline. The movie doesn't open in the US until June 25. Aside from "F9," no Hollywood movie has <a href="https://www.businessinsider.com/fast-and-furious-9-dominating-china-box-office-analysis-2021-5#:~:text=%22Fast%20and%20Furious%209%2C%22,its%20opening%20weekend%20in%20China.">earned more than $100 million</a> in its opening weekend in China since 2019's "Avengers: Endgame," proving blockbusters' potential in the region as the US theatrical market inches back to normalcy. <div type="image" title="John Cena" height="1333" width="2000" msid="82959240" hostid="261"></div>In the past, Western and Chinese <keyword id="6412373" type="UNKNOWN" weightage="60" keywordseo="celebrities">celebrities</keyword> across industries have found themselves in hot water for speaking out against the Chinese government. Most recently, in April, Chloé Zhao's historic wins at the Oscars were <a href="https://www.insider.com/people-china-bypassed-government-censors-chloe-zhao-oscars-2021-4">silenced on Chinese social media</a> in apparent retaliation against <a href="https://www.insider.com/china-censors-chloe-zhao-oscars-win-past-criticized-beijing-2021-4">the filmmaker's criticisms about the country in 2013</a>, Insider's Lauren Frias previously reported. "South Park," a satirical cartoon, <a href="https://www.hollywoodreporter.com/news/general-news/south-park-banned-chinese-internet-critical-episode-1245783/">was also wiped from the internet in China</a> after it released a 2019 episode titled "Band in China," which mocked Hollywood's tendency to mold content to ensure it can still air in China amid the country's <a href="https://www.businessinsider.com/china-internet-ban-criticism-could-suppress-coronavirus-news-2020-3">censorship rules</a>.

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