There is no doubt: the most colorful (and successful) IPO of the year landed yesterday at Mumbai Stock Exchange, symbol of the impetuous rise of the Indian subcontinent. A market that. in numbers, it has recorded annual earnings growth of 2007% since 11, even exceeding the 8,7% achieved in the same period by Nasdaq xnumx, an index driven by technology stocks often led by talents who took their first steps near Bangalore, the Indian Silicon Valley in which they grew up Satya Nadella of Microsoft o Sundar Pichai of Alphabet. But, for once, technology has nothing to do with it. Or rather, at the origin there is the great lesson of Italian art.
Mumbai stock exchange: Doms shares, Fila's subsidiary, are selling like hot cakes
In Mumbai, in fact, the shares of Doms, the name of the Indian subsidiary of Fila, a multinational producing crayons in 42 colors which at the start of trading recorded a performance of +75%, highlighting the strong interest in the stock, are literally selling like hot cakes. During the subscription phase, Doms generated strong demand, with a subscription rate exceeding 70 times the offer for a valuation of almost 300 million euros. A somewhat predictable success: the crayon case created more or less a century ago in a Florentine atelier has all it takes to break through in a market characterized by an increase in population and supported by state incentives for education and to school education. The transition from "mines" to the first algorithms is simpler and quicker than I can imagine.
After a sale of over 8 million shares, Fila's share in Doms «is 30,6% – explain Equita analysts – Therefore, considering a capitalization of the company which is currently around 1 billion euros, we calculate a equivalent value of Fila's shareholding of approximately 290 million», compared to the estimated IPO price of $160 million.
Hence the success of the freshman controlled by Candela family, a pocket-sized multinational corporation that has operations in Europe, North America, Central and South America, Asia and the rest of the world. After the successes on the American market, with a strong recovery in profitability, the baton of growth has now passed to Asia: with an ebitda increasing by +41%: it is not necessary to sell computers to gain space on Indian desks.
