Flair Writing IPO Basis of Allotment

m As certified by the StatutoryAuditors, pursuant to the certificate dated November 25,2023 Rs. The pre-IPO placement also happened atRs.304.00for2,401,315 shares on November 10,2023

17. Weighted Average Cost of Acquisition compared to Floor Price and Cap Price: Since there were no primary issuances or secondary transactions during the 18 months preceding the date of filing of the Prospectus, which were equal to or more than 5 per cent of the fully diluted paid-up share capital of the Issuer Company, the information has been disclosed for price per share of our Company based on the last five primary issuances (Pre-IPO placement) and secondary transactions where our Promoters, our Promoter Group, Selling Shareholders or Shareholder(s) having the right to nominate director(s), are a party to the transaction, not older than three years prior to the date of filing of the Prospectus irrespective of the size of transaction:

18. The Price/Earnings ratio based on diluted EPS for Financial Year 2023 for our Company at upper end of the price band is 24.01 times and Price/Earnings ratio of the average industry peer group as of the date of the Prospectus is 51.13 times.

19. Weighted Average Return on Net Worth for Financial Years 2023,2022 and 2021 is 21.94%.

20. The average cost of acquisition of Equity Shares by the Promoter Selling Shareholders and Promoter Group Selling Shareholders is less than the Offer Price.

21. The two BRLMs associated with the Offer have handled 61 public issues in the past three Financial Years, out of which 20 issues closed below the Offer Price on the listing date.

Rs.Issues handled where there were no comman BRLMs

The Offer was made through the Book Building Process, in terms of Rule 19(2Kb) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs". and such portion, the 'QIB Portion"), provided that our Company, in consultation with the Book Running Lead Managers, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ('Anchor Investor Portion'). One-third of the Anchor Investor Portion was reserved for the domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the price at which allocation was made to Anchor Investors ("Anchor Investor Allocation Price"). Further, 5% of the Net QIB Portion (excluding Anchor Investor Portion) was available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIBs. including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion was added to the remaining Net QIB Portion for proportionate allocation to QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation to Non-lnstitutional Bidders in accordance with the SEBI ICDR Regulations, out of which (a) one-third of such portion was reserved for Bidders with application size of more than Rs.0.20 million and up to Rs. 1 million; and (b) two-thirds of such portion was reserved for Bidders with application size of more than Rs.1 million . provided that the unsubscribed portion in either of such sub-categories was allocated to Bidders in the other sub-category of Non-lnstitutional Bidders; and not less than 35% of the Offer was available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All Bidders (except Anchor Investors) were mandatorily required to utilize the Application Supported by Blocked Amount ('ASBA") process by providing details of their respective ASB A accounts and UPI ID in case of UPI Bidders using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount was blocked by the Self Certified Syndicate Banks ("SCSBs") or by the Sponsor Banks under the UPI Mechanism, as the case may be. to the extent of the respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA Process. For further details, see "Offer Procedure"on page 427 of the Prospectus.

The bidding for Anchor Investor opened and dosed on November 21, 2023. The Company received 23 applications from 15 Anchor Investors for 5,961.389 Equity Shares. The Anchor investor price was finalized at Rs. 304 per Equity Share. A total of 58,51,972 shares were allocated under the Anchor Investor Portion aggregating to Rs. 1,778,999,488.

The Offer received 16,38,749 applications for 67,92,25,603 Equity Shares (prior to rejections) resulting in 34.82 times subscription. The details of the applications received in the Offer from various categories are as under: (before rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date as at different Bid prices is as under

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on November 29, 2023.

A. Allotment to Retail Individual Bidders (after rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs.304 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 13.34 times. The total number of Equity Shares Allotted in Retail Portion is 68,27,303 Equity Shares to 1,39,332 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are asunder:

B. Allotment to Non-institutional Bidders (more than Rs.0.20 million and up to Rs.1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders (more than Rs. 0.20 million and up to Rs.1 00 million), who have bid at the Offer Price of Rs.304 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 32.38 times. The total number of Equity Shares allotted in this category is 9,75,329 Equity Shares to 1,421 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Non-lnstitutional Bidders (more than Rs. 1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs.1.00 million), who have bid at the Offer Price of Rs.304 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 36.38 times. The total number of Equity Shares allotted in this category is 19,50,658 Equity Shares to 2,843 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

D. Allotment to QIBs

Allotment to QIBs, who have Bid at the Offer Price of Rs.304 per Equity Share, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 121.77 times of QIB Portion. As per the SEBI ICDR Regulations, Mutual Funds were Allotted 5% of the net QIB Portion available i.e , 1,95,066 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e 37,06,250 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion (including Mutual Funds) is 39,01,316 Equity Shares, which were allotted to 94 successful QIB Bidders (including Mutual Funds). The category-wise details of the Basis of Allotment are as under:

E. Allotment to Anchor Investors

The Company, in consultation with the BRLMs, have allocated 58,51,972 Equity Shares to 15 Anchor Investors (through 23 Application Forms) at the Anchor Investor Offer Price of Rs.304 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the Ql B Portion.

The IPO Committee of our Company on November 29, 2023 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE. The Board of Directors of our Company on November 29, 2023 has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-lntimations and/or notices have been dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on November 29, 2023 and payment to non-Syndicate brokers have been issued on November 30, 2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on November 30, 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on November 30, 2023. The Company has received listing and trading approval from BSE and NSE and the trading will commence on December 1,2023

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the Allotment made will be hosted on the website of the Registrar to the Offer. Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

	Link Intime India Private Limited
	C 101, 1st Floor. 247 Park. L.B.S Marg, Vikhroli (West).
	Mumbai - 400 083. Maharashtra. India
	Tel: +91-022-810 811 4949
	E-mail: flairwriting.ipo@linkintime.co.in
	Website: www.linkintime.co.in
	Investor grievance Id: flairwriting.ipo@linkintime.co.in
	Contact person: Ms. Shanti Gopalkrishnan
	SEBI registration number: INR000004058

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF FLAIR WRITING INDUSTRIES LIMITED.

FLAIR WRITING INDUSTRIES LIMITED has filed the Prospectus dated November 25, 2023 with the RoC . The Prospectus is available on the website of SEBI at www.sebi.gov.in. website of the BSE Limited at www.bseindia.com. the website of NSE at https://www.nseindia.com/, website of the Company at www.flairworld.in and the websites of the BRLMs, i.e. Nuvama Wealth Management Limited, (formerly known as Edelweiss Securities Limited) and Axis Capital Limited at www.nuvama.com and www.axiscapital.co.in, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled "Risk Factors" on page 30 of the Prospectus.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the company and that will contain detailed information about the Company and management, as well as financial statements. However, no offering of securities is being made in the United States.