Flair Writing IPO Day 3: Issue subscribed over 46 times on final day, retail portion booked 13x
- Flair Writing IPO subscription status is 46.68 times on day 3. Flair Writing IPO GMP today or grey market premium is +82. Estimated listing price indicated at ₹386 apiece, which is 26.97% higher than IPO price.
Flair Writing Industries IPO: Flair Writing IPO opened for subscription on Wednesday, November 22 and closed today (Friday, November 24). Flair Writing IPO has received a good response so far, with both days being fully subscribed.
Flair Writing IPO subscription status was 6.12 times on day 2. Flair IPO's retail investors portion was subscribed 7.16 times, NII portion was subscribed 10.05 times, and Qualified Institutional Buyers (QIB) portion is booked 1.36 times, at as per data available on BSE.
Flair Writing IPO subscription status was 2.18 times on day 1. 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 IPO lot size is 49 equity shares and in multiples of 49 equity shares thereafter.
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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.
Flair IPO Subscription Status on day 3
Flair Writing IPO subscription status is 46.68 times on day 3. Flair IPO's retail investors portion was subscribed 13.01 times, NII portion was subscribed 33.37 times, and Qualified Institutional Buyers (QIB) portion is booked 115.60 times, at as per data available on BSE.
Flair IPO has received bids for 67,28,40,364 shares against 1,44,13,188 shares on offer, according to data from the BSE.
Flair Writing Industries Limited IPO GMP today
Flair Writing IPO GMP today or grey market premium is +82, which means shares are trading at their premium of ₹82 in the grey market, according to investorgain.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Flair Writing Industries Limited share price was indicated at ₹386 apiece, which is 26.97% higher than the IPO price of ₹304.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Flair IPO Review
Reliance Securities
According to the brokerage Flair Writing, the company has a solid track record of strong financial performance. Revenues and profit after taxes (PAT) have both increased over the past few years, and margin improvement is expected to continue as new products in a variety of categories and individual strong brands at a range of price points push the growth trajectory in the years to come. FY21 was a washout year for writing instruments due to lockdowns in schools and offices.
“Flair Writing being one of the leaders in writing instruments both in domestic and exports market, industry leading profitability, experienced promoters by a strong professional team, faster growth of 14% CAGR compared to 5.5% for industry for FY17-23, strong dominance in its categories, debt free are the key investment positives. Therefore we recommend a SUBSCRIBE to the issue,” the brokerage said.
Swastika Investmart
Flair Writing Industries is one of the top three companies in the writing and creative instruments market overall, according to the brokerage. Flair Writing has proven to be a dependable and stable financial success in the past, as well as establishing notable increases in margins. Nonetheless, this industry operates in a market with some competition. The company also depends on imports of raw materials.
“Flair IPO is coming at a very attractive valuation of 24.01x, Thus, after considering all the factors we will assign a Subscribe rating to this IPO for listing gain as well as for long-term benefits,” the brokerage said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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