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Flair Writing IPO is a book built issue of Rs 593.00 crores. The issue is a combination of fresh issue of 0.96 crore shares aggregating to Rs 292.00 crores and offer for sale of 0.99 crore shares aggregating to Rs 301.00 crores.
Flair Writing IPO bidding started from November 22, 2023 and ended on November 24, 2023. The allotment for Flair Writing IPO was finalized on Wednesday, November 29, 2023. The shares got listed on BSE, NSE on December 1, 2023.
Flair Writing IPO price band is set at ₹288 to ₹304 per share. The minimum lot size for an application is 49 Shares. 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.
Nuvama Wealth Management Limited and Axis Capital Limited are the book running lead managers of the Flair Writing IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Flair Writing IPO RHP for detailed information.
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | December 1, 2023 |
| Face Value | ₹5 per share |
| Price Band | ₹288 to ₹304 per share |
| Lot Size | 49 Shares |
| Total Issue Size | 19,506,578 shares (aggregating up to ₹593.00 Cr) |
| Fresh Issue | 9,605,263 shares (aggregating up to ₹292.00 Cr) |
| Offer for Sale | 9,901,315 shares of ₹5 (aggregating up to ₹301.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding post issue | 105,395,378 |
Flair Writing IPO offers 19,506,577 shares. 3,901,316 (20.00%) to QIB, 2,925,987 (15.00%) to NII, 6,827,302 (35.00%) to RII and 5,851,972 (30.00%) to Anchor investors. 139,332 RIIs will receive minimum 49 shares and 1,421 (sNII) and 2,843 (bNII) will receive minimum 686 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,851,972 (30.00%) | NA |
| QIB Shares Offered | 3,901,316 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,925,987 (15.00%) | |
| bNII > ₹10L | 1,950,658 (10.00%) | 2,843 |
| sNII < ₹10L | 975,329 (5.00%) | 1,421 |
| Retail Shares Offered | 6,827,302 (35.00%) | 139,332 |
| Total Shares Offered | 19,506,577 (100%) |
Flair Writing IPO raises Rs 177.90 crore from anchor investors. Flair Writing IPO Anchor bid date is November 21, 2023. Flair Writing IPO Anchor Investors list
| Bid Date | November 21, 2023 |
| Shares Offered | 5,851,972 |
| Anchor Portion Size (In Cr.) | 177.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 29, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 27, 2024 |
Flair Writing IPO opens on November 22, 2023, and closes on November 24, 2023.
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment | Wednesday, November 29, 2023 |
| Initiation of Refunds | Thursday, November 30, 2023 |
| Credit of Shares to Demat | Thursday, November 30, 2023 |
| Listing Date | Friday, December 1, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Investors can bid for a minimum of 49 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,896 |
| Retail (Max) | 13 | 637 | ₹193,648 |
| S-HNI (Min) | 14 | 686 | ₹208,544 |
| S-HNI (Max) | 67 | 3,283 | ₹998,032 |
| B-HNI (Min) | 68 | 3,332 | ₹1,012,928 |
| Lot Size Calculator | |||
The promoters of the company are Mr. Khubilal Jugraj Rathod, Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod and Mr. Sumit Rathod.
| Share Holding Pre Issue | 97.49% |
| Share Holding Post Issue | 79.21% |
Incorporated in 1976, Flair Writing Industries Limited develops and manufactures writing instruments including a variety of pens (ball pens, fountain pens, gel pens, roller pens, and metal pens). The company owns several brands, including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and ZOOX. The company manufactures and distributes writing instruments including pens, stationery products, and calculators.
The company also offers watercolors, crayons, sketch pens, erasers, wooden pencils, and geometry boxes, fine liners, sharpeners, and scales. Flair offered 727 different products as of June 30, 2023.
The company has also recently entered the household goods sector, including casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of the subsidiaries, FWEPL.
The company manufactures pens and other products from 11 manufacturing plants located in Valsad, Gujarat; in Naigaon (near Mumbai), Maharashtra; in Daman, Union Territory of Dadra and Nagar Haveli and Daman and Diu; and Dehradun, Uttarakhand.
Flair Writing Industries had a retail distributor presence in 2,424 cities, towns, and villages in India, as of June 30, 2023. In addition to traditional sales channels, Flair has modern retail stores and e-commerce platforms. As of June 30, 2023, the company has 54 international sales partners and distribution partners in 77 countries. As of June 30, 2023, the company had 5,899 full-time employees.
Flair Writing Industries Limited's revenue increased by 62.39% and profit after tax (PAT) rose by 114.14% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 765.04 | 684.18 | 557.49 | 480.66 |
| Revenue | 248.50 | 954.29 | 587.64 | 310.87 |
| Profit After Tax | 32.14 | 118.10 | 55.15 | 0.99 |
| Net Worth | 470.16 | 437.99 | 319.86 | 264.65 |
| Reserves and Surplus | 423.46 | 391.29 | 296.50 | 241.31 |
| Total Borrowing | 126.67 | 115.59 | 126.33 | 130.31 |
| Amount in ₹ Crore | ||||
The market capitalization of Flair Writing IPO is Rs 3204 Cr.
| KPI | Values |
|---|---|
| ROE | 31.17% |
| ROCE | 31.24% |
| Debt/Equity | 0.26 |
| RoNW | 31.17% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 12.33 | |
| P/E (x) | 23.36 | 25.7 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] FWIL is one of the leading player in writing instruments and stationery. It has recently diversified into housewares, steel bottles and appliances. It has marked boosted earnings with existing products offering and holds promises for bright prospects with expansion plans afoot. Based on annualized FY24 earnings the issue is fully priced. Investors may park funds for the medium to long-term rewards. Read detail review...
The Flair Writing IPO is subscribed 49.28 times on November 24, 2023 7:02:00 PM. The public issue subscribed 13.73 times in the retail category, 122.02 times in the QIB category, and 35.23 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 122.02 |
| NII | 35.23 |
| bNII (bids above ₹10L) | 36.53 |
| sNII (bids below ₹10L) | 32.61 |
| Retail | 13.73 |
| Total | 49.28 |
Total Application : 1,694,065 (12.16 times)
| Listing Date | December 1, 2023 |
| BSE Script Code | 544030 |
| NSE Symbol | FLAIR |
| ISIN | INE00Y201027 |
| Final Issue Price | ₹304 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹304.00 |
| ₹503.00 |
| ₹452.70 |
| ₹514.00 |
| ₹452.70 |
| NSE |
|---|
| ₹304.00 |
| ₹501.00 |
| ₹450.90 |
| ₹514.40 |
| ₹450.90 |
Flair Writing Industries Limited
63 B/C, Government Industrial Estate
Charkop, Kandivali West
Mumbai 400 067
Phone: +91 22 4203 0405
Email: investors@flairpens.com
Website: https://flairworld.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: flairwriting.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Flair Writing IPO is a main-board IPO of 19,506,578 equity shares of the face value of ₹5 aggregating up to ₹593.00 Crores. The issue is priced at ₹288 to ₹304 per share. The minimum order quantity is 49 Shares.
The IPO opens on November 22, 2023, and closes on November 24, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Flair Writing IPO using UPI as a payment gateway. Zerodha customers can apply in Flair Writing IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Flair Writing IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Flair Writing IPO opens on November 22, 2023 and closes on November 24, 2023.
Flair Writing IPO lot size is 49 Shares, and the minimum amount required is ₹14,896.
You can apply in Flair Writing IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Flair Writing IPO will be done on Wednesday, November 29, 2023, and the allotted shares will be credited to your demat account by Thursday, November 30, 2023. Check the Flair Writing IPO allotment status.
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