BackFlair Writing Industries Limited IPO to open for subscription on November 22, sets price band at ₹288-304 apiece
Flair IPO sets price band at ₹288-304 apiece. Flair Writing IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.
PremiumFlair IPO price: Flair Writing Industries Limited IPO price band has been set in the range of ₹288 to ₹304 per equity share of face value of ₹5. Flair Writing IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24. The allocation to anchor investors for Flair Writing Industries Limited IPO is scheduled to take place on Tuesday, November 21.
Also Read: Gandhar Oil IPO opens on November 22, price band set at ₹160-169 per share
The floor price is 57.60 times the face value of the equity shares and the cap price is 60.80 times the face value of the equity shares. The price to earnings ratio based on diluted EPS for financial year 2023 for the company at the higher end of the price band is as high as 24.01 times and the lower end of the price band is 22.75 times. Flair IPO lot size is 49 equity shares and in multiples of 49 equity shares thereafter.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
Tentatively, Flair Writing IPO basis of allotment of shares will be finalised on Thursday, November 30 and the company will initiate refunds on Friday, December 1, while the shares will be credited to the demat account of allottees on Monday, December 4. Flair Writing IPO shares are likely to be listed on BSE and NSE on Tuesday, December 5. If in case, the company decides to switch to T+3 norm, the dates will get preponed.
Flair Writing Industries Limited IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Also Read: Fedbank Financial Services IPO opens on November 22, price band set at ₹133-140 apiece
Flair Writing IPO details
Flair Writing IPO comprises a fresh issue of shares of up to ₹292 crore and an offer for sale (OFS) of equity shares with face value of ₹2 each by a promoter and others aggregating up to ₹301 crore. Flair Writing IPO size is ₹593 crore.
The following uses of the net proceeds of the new issue include establishing the New Valsad Unit, a new writing instrument manufacturing facility in Gujarat's District Valsad; funding working capital needs for the company and its subsidiaries, Flair Writing Equipments Private Limited (FWEPL); financing capital expenditures for the company and its subsidiaries, FWEPL and Flair Cyrosil Industries Private Limited (FCIPL); funding the repayment or prepayment, in full or in part, of certain borrowings taken out by the company and its subsidiaries, FWEPL and FCIPL; and serving general corporate purposes.
Also Read: Flair Writing, Neccon Power get Sebi nod to launch IPOs
The Flair Writing IPO's book running lead managers are Nuvama Wealth Management Limited and Axis Capital Limited, and the issue's registrar is Link Intime India Private Ltd.
Flair is a company that designs and manufactures writing instruments specifically suited for the ever-evolving market of today.
Also Read: Flair Writing Industries files ₹745 crore IPO to fuel growth and dominate global market
Flair Writing IPO GMP today
Flair Writing Industries Limited IPO GMP or grey market premium is ₹0, which means shares are trading at their issue price of ₹304 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Also Read: Diwali 2023: 58 mainboard IPOs, 172 SME IPOs hit the Street since last Deepavali
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
