Investors exhibit strong interest as Flair Writing Industries Limited’s Initial Public Offering (IPO) records a subscription of 2.18 times on the first day.
The pen manufacturing company aims to raise Rs 593 crore through the IPO, with the subscription window open until November 24.
Subscription Breakdown – Retail Investors Lead with 2.87 Times Oversubscription
Flair Writing IPO sees significant interest across investor categories, with the subscription breakdown as follows:
Qualified Institutional Buyers (QIB): 53%
Non-Institutional Investors: 2.78 times
Retail Investors: 2.87 times
Overall Subscription: 2.18 times
IPO Details:
Offer Composition – Fresh Equity and Offer for Sale (OFS)
The IPO consists of fresh equity shares amounting to Rs 292 crore and an Offer for Sale (OFS) of shares worth Rs 301 crore by the promoters and promoter group entities. Currently, the promoters hold a 100% stake in the company.
Reservation Breakdown for Investors
Approximately 50% of the offer is reserved for Qualified Institutional Buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
The lot size is 49 equity shares, allowing retail investors to participate with a minimum investment of Rs 14,896 (49 shares).
IPO Management and Timeline:
Management and Advisors
Nuvama Wealth Management Limited and Axis Capital Limited serve as the book-running lead managers for the IPO, while Link Intime India Private Limited acts as the registrar.
Allotment and Listing Dates
Shares are expected to be allotted to successful investors by November 30, with the equity shares credited to demat accounts by December 4. The company’s shares are set to be listed on both BSE and NSE on December 5.
About Flair Writing Industries Limited:
Heritage Brand ‘Flair’ – A 45-Year Legacy
Flair Writing Industries Limited, a pen manufacturing company, boasts the iconic ‘Flair’ brand with a legacy of over 45 years.
Holding a significant market share of around 9%, the company is a top-three player in the writing instrument industry.
In addition to writing instruments, Flair is involved in the manufacturing of stationery products, calculators, houseware items, and steel bottles.
