Flair Writing Industries Gears Up for IPO, Aims to Expand Market Presence

Flair Writing Industries Gears Up for IPO, Aims to Expand Market Presence

VoM News Desk | November 22, 2023 | 06:38 PM IST | Breaking News | Follow on Google News

Flair Writing Industries Gears Up for IPO, Aims to Expand Market Presence

Flair Writing Industries Gears Up for IPO, Aims to Expand Market Presence

Flair Writing Industries, known for designing and manufacturing writing instruments, is set to open its IPO subscription on Wednesday, November 22. The company has established itself in the market with a diverse range of products catering to different customer segments, including offices, professionals, and students.

Market Position and Growth

With a revenue of ₹915.55 crore in the financial year 2023, Flair Writing holds a significant position in the Indian writing instruments market. The company boasts a 9% market share in this sector, as per CRISIL. Notably, Flair Writing has demonstrated remarkable revenue and profit growth, with a 62.39% increase in revenue and a 114.14% rise in PAT between the financial years ending March 31, 2023, and March 31, 2022.

IPO Details and Price Band

The Flair Writing Industries Limited IPO comprises a fresh issue of shares worth up to ₹292 crore and an Offer for Sale (OFS) aggregating up to ₹301 crore. The IPO price band is set between ₹288 to ₹304 per equity share of face value ₹5.

Investment and Market Prospects

The IPO is attracting considerable attention, indicated by its grey market premium of +68, suggesting a robust investor interest. The expected listing price could be around ₹372 apiece, significantly higher than the IPO price.

Strategic Objectives of IPO Proceeds

The net proceeds from the IPO will be utilized for various purposes, including establishing a new manufacturing facility in Valsad, funding working capital needs, financing capital expenditures, repaying or prepaying certain borrowings, and for general corporate purposes.

Lead Managers and Subscription Reservation

The lead managers for the IPO are Nuvama Wealth Management Limited and Axis Capital Limited, with Link Intime India Private Ltd serving as the issue’s registrar. The IPO has reserved specific proportions of shares for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors.

VoM News Desk

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