Flair Writing Industries IPO opens: Here's all you need to know about the issue
Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore.
The initial public offering (IPO) of pen maker Flair Writing Industries will open for subscription today, November 22. As per the company's red herring prospectus (RHP), Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities.
Here are some of the key details about Flair Writing Industries IPO-
Flair Writing Industries Ltd IPO: Important dates
The subscription window for the IPO will be available from 10 a.m. to 5 p.m. for three trading days ending November 24. The anchor book of the offer was open for a day on November 21.
Flair Writing Industries Ltd IPO: Price band
The price band of the issue is fixed at Rs 288–Rs 304 per share for its Rs 593 crore IPO.
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Flair Writing Industries Ltd IPO: Lot size
Flair IPO's lot size is 49 equity shares and in multiples of 49 equity shares thereafter.
Flair Writing Industries Ltd IPO: Allotment
Tentatively, the basis for the allotment of shares will be finalised on Thursday, November 30. Subscribers will be able to check the allotment status on the website of Registrar Link Intime India Private Ltd. Here's the direct link
Flair Writing Industries Ltd IPO: Fund utilisation
Proceeds from the fresh issue will be used to set up a manufacturing facility for writing instruments in Valsad district, Gujarat, and to fund the company's capital expenditure and subsidiary Flair Writing Equipments Pvt. Ltd. (FWEPL).
Besides, the proceeds will be used to support the working capital requirements of the company and its subsidiaries, FWEPL and Flair Cyrosil Industries.
Additionally, the money will be used for payment of the loan and general corporate purposes.
About Flair Writing Industries Ltd
The company, which owns the over-45-year-old flagship brand 'Flair', is among the top three players in the overall writing instrument industry, with a market share of about nine per cent, as of March 2023.
It manufactures and distributes writing instruments, including pens, stationery products, and calculators, and has also diversified into manufacturing houseware products and steel bottles.
(With agency inputs)