Flair Writing Industries Limited initial public offering (IPO) will open for bidding November 22, Wednesday and will close on November 23, Friday. The company has fixed the price band at ₹ 288 to ₹304 per share.
The pen manufacturer, renowned for its flagship brand ‘Flair’ that has been in existence for over 45 years, currently holds a position in the top three within the overall writing instruments industry. As of March this year, the company commands a market share of approximately 9%.
The corporation produces and delivers a range of writing tools like pens, stationery items, and calculators. Additionally, it has expanded its operations to include the production of household goods and stainless steel bottles.
Flair Writing IPO details — 10 points
Flair Writing IPO Issue Size: The Mumbai-based writing instruments manufacturer plans to raise funds through equity shares of face value ₹5 each aggregating up to ₹593 crore.
Flair Writing IPO Issue Date: The IPO will open for bidding November 22, Wednesday and will close on November 23, Friday.
Flair Writing IPO Price Band: The company has fixed the price band at ₹ 288 to ₹304 per share.
Flair Writing IPO Listing Date: The shares will list on BSE, NSE with tentative listing date fixed as Tuesday, December 5, 2023.
Flair Writing IPO Anchor investor: The Anchor Investor Bidding Date shall be Tuesday, November 21, 2023.
Flair Writing IPO Basis of Allotment: . The offer comprises fresh issue of equity shares aggregating up to ₹292 crore and an offer for sale aggregating up to ₹301 crore.
Flair Writing IPO reservation: The minimum amount of investment required by retail investors is ₹14,896. The minimum lot size investment for sNII is 14 lots (686 shares), amounting to ₹208,544, and for bNII, it is 68 lots (3,332 shares), amounting to ₹1,012,928.
Flair Writing IPO Promoter Holding: The offer for sale comprises equity shares worth up to ₹301 crore by promoters and promoter group entities. Currently, promoters and promoter group entities own 100% stake in the company.
Flair Writing IPO Lead and Book Running Managers: Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd) and Axis Capital Ltd are the book-running lead managers to the IPO. The registrar for the IPO is Link Intime India Pvt Ltd.
Flair Writing objective: The proceeds generated from the new issuance will be employed to establish a writing instruments manufacturing facility in the Valsad district of Gujarat. Additionally, the funds will support the company’s capital expenses and its subsidiary, Flair Writing Equipments Pvt Ltd (FWEPL).
Additionally, the funds generated will be allocated to meet the operational capital needs of the company and its subsidiaries, FWEPL and Flair Cyrosil Industries. Moreover, the raised capital will be employed to settle outstanding loans and for general corporate purposes.
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Updated: 22 Nov 2023, 02:07 PM IST