Flair Writing IPO: GMP, price, review, other details in 10 points. Apply or not?

Flair Writing IPO: The initial public offering (IPO) of Flair Writing Industries Limited has opened today and the book build issue will remain open for bidding till 24th November 2023. The stationary brand has fixed Flair Writing IPO price at ₹288 to ₹304 per equity share. The public issue worth ₹593 crore is proposed for listing on BSE and NSE.

Meanwhile, the grey market is signaling a bullish trend regarding Flair Writing IPO. According to investorgain.com, shares of Flair Writing Industries Limited are available at a premium of ₹60 in the grey market today.

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Important Flair Writing IPO details

1] Flair Writing IPO GMP: Shares of the stationary brand are available at a premium of ₹60 in the grey market today, according to investorgain.com

2] Flair Writing IPO date: The public issue has opened today and it will remain open for bidding till 24th November 2023 i.e. till Friday this week.

3] Flair Writing IPO price: The company has fixed issue price of ₹288 to ₹304 per equity share.

4] Flair Writing IPO size: The stationary brand aims to raise ₹593 crore from its initial offer. Out of these ₹593 crore, ₹292 crore is aimed at the issuance of fresh shares whereas there's   ₹301 crore is aimed via OFS (offer for sale).

5] Flair Writing IPO lot size: A bidder will be able to apply in lots and one lot of the public issue comprises 49 company shares.

6] Flair Writing IPO investment limit: As one lot of Flair Writing IPO comprises 49 company shares and the Flair Writing IPO price band has been fixed at ₹288 to ₹304 per equity share, the minimum amount required by retail investors to apply for the IPO is ₹14,896.

7] Flair Writing IPO allotment date: In the wake of the T+3 schedule, the initial public issue is expected to finalise the allocation of shares either on 27th November 2023 or latest by 28th November 2023.

8] Flair Writing IPO listing: The public issue worth ₹593 crore is proposed for listing on BSE and NSE.

9] Flair Writing IPO listing date: In the wake of the T+3 schedule, the public issue is expected to be listed on the third trade day after the closure of the public issue. As it is closing on 24th November 2023, which is Friday, the public issue is expected to be listed on Wednesday next week or on 29th November 2023.

Also Read: Flair Writing Industries bags ₹177 crore from anchor investors ahead of IPO launch

Flair Writing IPO: Apply or not?

10] Flair Writing IPO review: Giving 'subscribe' tag to the public issue, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, "Flair Writing Industries Limited enjoys best-in-class net margins, which are just short of double-digit. The company reported an EPS of ₹12.66. Based on this EPS, the PE multiple is 22.75-24.01 for the issue. Looking at the success of Cello World and the similarity in business, the issue would do well and offer scope for appreciation in the short to medium term."

Without rating the public issue, Axis Capital said, "Flair Writing Industries Ltd (“Flair”) is among the Top-3 players in the overall writing instruments industry with a revenue of ₹915.55 crore in Financial Year 2023 and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023. Flair is also among the Top-2 organized players that have seen faster growth in revenue as compared to the overall writing and creative instrument industry growth rate, i.e., while the industry grew at a compounded annual growth rate (“CAGR”) of 5.5% between Financial Year 2017 and 2023, they grew at a CAGR of approximately 14% during the same period."

Also Read: Flair Writing IPO: Here’s what GMP signals ahead of the issue opening

"The company has recently forayed into manufacturing a wide range of houseware products including casseroles, bottles, storage containers, serving solutions, cleaning solutions, and basket and paper bins, through one of their Subsidiaries, FWEPL. The company intends to utilize a portion of the proceeds from the Offer for funding capital expenditure of FWEPL for the purchase of machinery and moulds to expand its manufacturing capacity for writing instruments. The company intends to leverage the strength of the “Flair” brand and its manufacturing and distribution capabilities to expand and optimize the business of houseware products and steel bottles, which is expected to be a key area of their growth going forward," Axis Capital said.

Also Read: Flair Writing Industries Limited IPO to open for subscription on November 22, sets price band at ₹288-304 apiece

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 decision.