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 opens for subscription on November 22, 2023 and closes on November 24, 2023. The allotment for the Flair Writing IPO is expected to be finalized on Thursday, November 30, 2023. Flair Writing IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 5, 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.
Flair Writing IPO Details
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | [.] |
| 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 pre issue | 95,790,115 |
| Share holding post issue | 105,395,378 |
Flair Writing IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Flair Writing IPO Timeline (Tentative Schedule)
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 | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Flair Writing IPO Lot Size
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 |
Flair Writing IPO Promoter Holding
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% |
About Flair Writing Industries Limited
Incorporated in 1976, Flair is engaged in developing and manufacturing writing instruments that are tailored to today’s continuously shifting market. FLAIR is an ISO 9001 : 2015; ISO 14001 : 2015 certified company, adhering to global business & social norms.
FLAIR has established business relationships with some of the leading pioneers in the writing industry. The company owns several brands including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and the ZOOX. In the Financial Year 2023, the company sold a total of 1,303.60 million units of pens, out of which 975.30 million units, which accounts for 74.82% of the sales, were sold domestically while 328.30 million units, accounting for 25.18% of the sales, were exported globally.
Furthermore, the company has recently ventured into manufacturing a diverse range of houseware products such as casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of our subsidiaries, FWEPL.
Flair Writing Industries Limited Financial Information (Restated Consolidated)
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 |
Key Performance Indicator
Flair Writing IPO Market Cap is Rs 3204 Cr and P/E (x) is 24.01.
| KPI | Values |
|---|---|
| P/E (x) | 24.01 |
| Market Cap (₹ Cr.) | 3204 |
| ROE | 31.17% |
| ROCE | 31.24% |
| Debt/Equity | 0.26 |
| EPS (Rs) | 12.66 |
| RoNW | 31.17% |
Check Flair Writing IPO Peer Comparison here.
Objects of the Issue (Flair Writing IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (New Valsad Unit);
- Funding capital expenditure of the company and its subsidiary, FWEPL;
- Funding working capital requirements of the company and its subsidiaries, FWEPL and FCIPL;
- Repayment/pre-payment, in part or full, of certain borrowings availed by the company and its Subsidiaries, FWEPL and FCIPL; and
- General corporate purposes.
Flair Writing IPO Review (Apply)
[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…
Flair Writing Industries Limited Contact Details
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/
Flair Writing IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: flairwriting.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html