Flair Writing share price makes stellar debut, stock lists with 65% premium at ₹501 on NSE | Mint
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Business News/ Markets / Ipo/  Flair Writing share price makes stellar debut, stock lists with 65% premium at 501 on NSE
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Flair Writing share price makes stellar debut, stock lists with 65% premium at ₹501 on NSE

Flair Writing shares made a stellar debut on the stock exchanges, with prices on NSE and BSE listing 64.8% higher than the issue price.

Flair Writing share price debuts on the bourses today. (Photo: Company website)Premium
Flair Writing share price debuts on the bourses today. (Photo: Company website)

Flair Writing share price made a stellar debut on the bourses today. On NSE, Flair Writing share price today was listed at 501 per share, 64.8% higher than the issue price of 304, and on the BSE, Flair Writing shares were listed at 503 apiece.

Experts in the market felt that Flair's share price would list at a significant premium. They claimed that the upbeat secondary market sentiment and the notable expansion in the writing instruments and stationary segments justified the Flair IPO's healthy listing.

Also Read: Flair Writing Share Price Live Updates: GMP signals strong listing for Flair Writing on stock exchanges today

Flair Writing IPO opened for subscription on Wednesday, November 22 and closed on Friday, November 24. Flair Writing Industries Limited IPO price band was set in the range of 288 to 304 per equity share of face value of 5. Flair IPO lot size was 49 equity shares and in multiples of 49 equity shares thereafter.

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Also Read: Flair share price to hit stock market today. GMP, experts signal strong debut of shares

Flair Writing Industries Limited 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.

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.

Also Read: Flair Writing IPO Day 3: Issue subscribed over 46 times on final day, retail portion booked 13x

Flair Writing IPO GMP today 

Flair Writing IPO GMP today or grey market premium is +150 which means shares are trading at their premium of 150 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 of Flair share price was indicated at 454 apiece, which is 49.34% higher than the IPO price of 304.

Based on last 16 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 150, as per analysts of investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Flair Writing IPO open today: GMP, issue details, price band, 10 key things to know before investing

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.

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Published: 01 Dec 2023, 10:00 AM IST
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