Flair Writing IPO Allotment: The share allotment of pen maker Flair Writing Industries is likely to start tonight, on Wednesday. Once finalised, the listing of the 593-crore IPO, which was opened for public subscription between November 22 and November 24, will take place on December 1 on the BSE and NSE.
The IPO received a total subscription of 46.68 times. The price range was fixed at Rs 288-304 a share.
Flair Writing IPO GMP Today
According to market observers, unlisted shares of Flair Writing are currently trading Rs 82 higher in the grey market as compared with its issue price. The Rs 82 grey market premium or GMP means the grey market is expecting a 26.97 per cent listing gain from the public issue.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Flair Writing IPO: How To Check Allotment Status
Once the allotment is finalised, investors can check Flair Writing IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Flair Writing Industries Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check the Flair Writing Industries Limited IPO allotment status.
Flair Writing IPO Details
The Flair Writing Industries IPO received bids for 67,28,33,455 shares against 1,44,13,188 shares on offer.
The quota for qualified institutional buyers (QIBs) got subscribed 115.60 times, while the portion for non-institutional investors received 33.37 times subscription. The category for retail individual investors (RIIs) attracted 13.01 times subscription. Flair Writing’s IPO had 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.
Proceeds of the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat; funding 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 subsidiaries FWEPL and Flair Cyrosil Industries. Also, the money will be used for payment of the loan and general corporate purposes.
The company, which owns the over 45-year-old flagship brand ‘Flair’, is among the top three players in the overall writing instruments 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.
Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd) and Axis Capital Ltd were the book-running lead managers to the IPO.
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