Flair Writing IPO: Flair Writing Industries Limited, a prominent player in the writing instrument industry, is all set to launch its Initial Public Offering (IPO) on November 22, providing a lucrative opportunity for investors interested in new market listings. This event marks a significant step for the company, which has been a key figure in the industry for over 45 years.
Overview of the Flair Writing IPO
- Opening Date: The IPO will be open for public subscription from November 22 to November 24, 2023. Notably, the allocation for anchor investors is scheduled for November 21, a day prior to the public opening.
- Company Profile: Flair Writing Industries Limited is renowned for its flagship brand Flair, established over four decades ago. As of March 2023, the company boasts more than an 8% share in the global writing instrument market, positioning it among the top three industry leaders.
- Pricing Details: The price band for the IPO is set at ₹288 to ₹304 per equity share, with each share having a face value of ₹5.
- Capital Objective: The IPO aims to issue fresh equity shares worth ₹292 crore. In addition, there will be an Offer for Sale (OFS) of shares worth ₹301 crore by the company’s promoters and promoter group entities.
- Current Ownership: Before the IPO, the promoters and promoter group entities hold a complete 100% stake in Flair Writing Industries.
- Listing and Trading: The shares from this IPO are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 5, 2023. This date may be subject to change depending on the adoption of the T+3 standard by the company.
- Lot Size and Bidding Process: Investors can bid for the IPO in lots, each containing 49 equity shares. Bids can be placed in multiples of this lot size.
- Allotment and Refunds: The finalization of share allotment is slated for November 30, followed by the initiation of refunds on December 1. Investors can expect the credited shares in their Demat accounts by December 4.
Company’s Background and Prospectus
Flair Writing Industries Limited has established itself as a formidable name in the writing instrument sector. The company’s long-standing brand, Flair, has contributed significantly to its market presence and growth. The firm’s strategic market position is underscored by its commanding share in the industry.
Funding Utilization
The proceeds from the IPO will primarily fund the establishment of a new manufacturing facility for writing instruments in the Valsad district of Gujarat. This expansion is expected to enhance the company’s production capabilities and market reach, further consolidating its position in the industry.
The upcoming IPO of Flair Writing Industries Limited presents an exciting opportunity for investors to participate in the growth story of a leading player in the writing instrument market. With its strong market presence, established brand, and clear vision for expansion, the company is poised for continued success in the industry.
