Bookbuilding IPO | ₹593 Cr | Listed at BSE, NSE | Wed, Nov 22, 2023 - Fri, Nov 24, 2023
Flair Writing Industries IPO is a book build issue of ₹593.00 crores. The issue is a combination of fresh issue of 0.96 crore shares aggregating to ₹292.00 crores and offer for sale of 0.99 crore shares aggregating to ₹301.00 crores.
Flair Writing Industries IPO bidding started from Nov 22, 2023 and ended on Nov 24, 2023. The allotment for Flair Writing Industries IPO was finalized on Nov 29, 2023. The shares got listed on BSE, NSE on Dec 1, 2023.
Flair Writing Industries IPO price band is set at ₹304 per share. The lot size for an application is 49. The minimum amount of investment required by an retail is ₹14,896 (49 shares) (based on upper price). The lot size investment for sNII is 14 lots (686 shares), amounting to ₹2,08,544, and for bNII, it is 68 lots (3,332 shares), amounting to ₹10,12,928.
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Flair Writing Industries IPO RHP for detailed Information.
IPO Open
Wed, Nov 22, 2023
IPO Close
Fri, Nov 24, 2023
Issue Price
₹304 per share
Market Cap (Pre-IPO)
₹3,204.00 Cr
| IPO Date | 22 to 24 Nov, 2023 |
| Listed on | Fri, Dec 1, 2023 |
| Face Value | ₹5 per share |
| Price Band | ₹288 to ₹304 |
| Issue Price | ₹304 per share |
| Lot Size | 49 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,95,06,578 shares (agg. up to ₹593 Cr) |
| Fresh Issue | 96,05,263 shares (agg. up to ₹292 Cr) |
| Offer for Sale | 99,01,315 shares of ₹5 (agg. up to ₹301 Cr) |
| Share Holding Post Issue | 10,53,95,378 shares |
| BSE Script Code / NSE Symbol | 544030 / FLAIR |
| ISIN | INE00Y201027 |
Flair Writing Industries IPO offers total 1,95,06,578 shares. Out of which 97,53,288 (50.00%) allocated to QIB, 39,01,316 (20.00%) allocated to QIB (Ex- Anchor), 29,25,987 (15.00%) allocated to NII 68,27,303 (35.00%) allocated to RII and 58,51,972 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 97,53,288 (50.00%) | NA |
| − Anchor Investor Shares Offered | 58,51,972 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 39,01,316 (20.00%) | NA |
| NII (HNI) Shares Offered | 29,25,987 (15.00%) | NA |
| − bNII > ₹10L | 19,50,658 (10.00%) | 2,843 |
| − sNII < ₹10L | 9,75,329 (5.00%) | 1,421 |
| Retail Shares Offered | 68,27,303 (35.00%) | 1,39,332 |
| Total Shares Offered | 1,95,06,578 (100.00%) |
Investors can bid for a minimum of 49 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,896 |
| Retail (Max) | 13 | 637 | ₹1,93,648 |
| S-HNI (Min) | 14 | 686 | ₹2,08,544 |
| S-HNI (Max) | 67 | 3,283 | ₹9,98,032 |
| B-HNI (Min) | 68 | 3,332 | ₹10,12,928 |
Flair Writing Industries IPO raises ₹177.90 crore from anchor investors. Flair Writing Industries IPO Anchor bid date is November 21, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Nov 21, 2023 |
| Shares Offered | 58,51,972 |
| Anchor Portion (₹ Cr.) | 177.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Dec 29, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Feb 27, 2024 |
Incorporated in 1976, Flair Writing Industries Limited develops and manufactures writing instruments including a variety of pens (ball pens, fountain pens, gel pens, roller pens, and metal pens). The company owns several brands, including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and ZOOX. The company manufactures and distributes writing instruments including pens, stationery products, and calculators.
The company also offers watercolors, crayons, sketch pens, erasers, wooden pencils, and geometry boxes, fine liners, sharpeners, and scales. Flair offered 727 different products as of June 30, 2023.
The company has also recently entered the household goods sector, including casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of the subsidiaries, FWEPL.
The company manufactures pens and other products from 11 manufacturing plants located in Valsad, Gujarat; in Naigaon (near Mumbai), Maharashtra; in Daman, Union Territory of Dadra and Nagar Haveli and Daman and Diu; and Dehradun, Uttarakhand.
Flair Writing Industries had a retail distributor presence in 2,424 cities, towns, and villages in India, as of June 30, 2023. In addition to traditional sales channels, Flair has modern retail stores and e-commerce platforms. As of June 30, 2023, the company has 54 international sales partners and distribution partners in 77 countries. As of June 30, 2023, the company had 5,899 full-time employees.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 765.04 | 684.18 | 557.49 | 480.66 |
| Total Income | 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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (“New Valsad Unit”) | 55.99 |
| 2 | Funding capital expenditure of our Company and the Subsidiary, FWEPL | 39.48 |
| 3 | Funding working capital requirements of our Company and the Subsidiaries, FWEPL and FCIPL | 47.00 |
| 4 | Repayment/pre-payment, in part or full, of certain borrowings availed by the Company and our Subsidiaries, FWEPL and FCIPL | 21.00 |
| 5 | General corporate purposes | 10.30 |
| KPI | |
|---|---|
| ROE | 31.17% |
| ROCE | 31.24% |
| Debt/Equity | 0.26 |
| RoNW | 31.17% |
| PAT Margin | 12.53% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.33 | |
| P/E (x) | 23.36 | 25.7 |
| Promoter Holding | 97.49% | 79.21% |
| Market Cap | ₹3,204.00 Cr. |
The Flair Writing IPO is subscribed 49.28 times on November 24, 2023 7:02:00 PM (Day 3). The public issue subscribed 13.73 times in the retail category, 122.02 times in the QIB category, and 35.23 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 122.02 | 39,01,316 | 47,60,36,813 |
| NII | 35.23 | 29,25,987 | 10,30,69,736 |
| bNII (bids above ₹10L) | 36.53 | 19,50,658 | 7,12,59,622 |
| sNII (bids below ₹10L) | 32.61 | 9,75,329 | 3,18,10,114 |
| Retail | 13.73 | 68,27,302 | 9,37,33,815 |
| Total | 49.28 | 1,36,54,605 | 67,28,40,364 |
Total Application : 16,94,065
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs' fees and commissions (including underwriting commission, brokerage and selling commission) | 17.49 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs and brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their Sub-Syndicate Members), Registered Brokers, RTAs and CDPs(2)(3)(4)(5)(6) | 5.38 |
| 3 | Fees payable to the Registrar to the Offer | |
| 4 | Fees payable to other parties, including but not limited to Statutory Auditors, industry expert and the Chartered Engineer | 0.56 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees | 3.75 |
| 6 | Printing and stationery expenses | 1.28 |
| 7 | Advertising and marketing expenses | 3.49 |
| 8 | Fees payable to legal counsels | 3.20 |
| 9 | Miscellaneous (comprising fees payable to strategic advisory and additional intermediaries, if any, monitoring agency, chartered accountant(s) and company secretary that may be appointed in the course of Offer) | 3.37 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹304.00 | ₹304.00 |
| Open | ₹503.00 | ₹501.00 |
| Low | ₹452.70 | ₹450.90 |
| High | ₹514.00 | ₹514.40 |
| Last Trade | ₹452.70 | ₹450.90 |
Lead Manager Reports
Flair Writing Industries IPO is a main-board IPO of 1,95,06,578 equity shares of the face value of ₹5 aggregating up to ₹593 Crores. The issue is priced at ₹304 per share. The minimum order quantity is 49.
The IPO opens on Wed, Nov 22, 2023, and closes on Fri, Nov 24, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Flair Writing Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Flair Writing Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Flair Writing Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Flair Writing Industries IPO opens on Wed, Nov 22, 2023 and closes on Fri, Nov 24, 2023.
Flair Writing Industries IPO lot size is 49, and the minimum amount required for application is ₹14,896.
You can apply in Flair Writing Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Flair Writing Industries IPO will be done on Wednesday, November 29, 2023, and the allotted shares will be credited to your demat account by Thu, Nov 30, 2023. Check the Flair Writing Industries IPO allotment status.
The Flair Writing Industries IPO listing date is on Fri, Dec 1, 2023.
