Flair Writing Industries Limited IPO Detail
Incorporated in 1976, Flair is engaged in developing and manufacturing writing instruments that are tailored to today's continuously shifting market. FLAIR is an ISO 9001 : 2015; ISO 14001 : 2015 certified company, adhering to global business & social norms.
FLAIR has established business relationships with some of the leading pioneers in the writing industry. The company owns several brands including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and the ZOOX. In the Financial Year 2023, the company sold a total of 1,303.60 million units of pens, out of which 975.30 million units, which accounts for 74.82% of the sales, were sold domestically while 328.30 million units, accounting for 25.18% of the sales, were exported globally.
Furthermore, the company has recently ventured into manufacturing a diverse range of houseware products such as casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of our subsidiaries, FWEPL.
Company Promoters
Mr. Khubilal Jugraj Rathod, Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod and Mr. Sumit Rathod.IPO Details
| IPO Opening Date | Nov 22, 2023 |
| IPO Closing Date | Nov 24, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹288 - 304 per equity share |
| Market Lot | 49 Shares |
| Min Order Quantity | 49 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹593.00 Cr |
| Fresh Issue | ₹292.00 Cr |
| Offer for Sale | ₹301.00 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.01x | - | - | 1.16x | 0.99x | 0.75x |
| Day 2 | 1.43x | - | - | 10.61x | 7.57x | 6.47x |
| Day 3 | 122.02x | - | - | 35.23x | 13.73x | 49.28x |
IPO Tentative Timetable
The Flair Writing Industries Limited IPO open date is Nov 22, 2023, and the close date is Nov 24, 2023. The issue may list on Dec 01, 2023.
| IPO Open Date | Nov 22, 2023 |
| IPO Close Date | Nov 24, 2023 |
| Basis of Allotment Date | Nov 29, 2023 |
| Initiation of Refunds | Nov 30, 2023 |
| Credit of Shares to Demat Account | Nov 30, 2023 |
| IPO Listing Date | Dec 01, 2023 |
IPO Lot Size
The Flair Writing Industries Limited IPO market lot size is 49 shares. A retail-individual investor can apply for up to 13 lots (637 shares or ₹193648).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 49 | ₹14896 |
| Maximum | 13 | 637 | ₹193648 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.49% |
| Post Issue Share Holding | 79.21% |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 480.66 | 310.87 | 0.99 |
| 31-Mar-22 | 557.49 | 587.64 | 55.15 |
| 31-Mar-23 | 684.18 | 954.29 | 118.10 |
| 31-Jul-23 | 765.04 | 248.50 | 32.14 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (New Valsad Unit);
- Funding capital expenditure of the company and its subsidiary, FWEPL;
- Funding working capital requirements of the company and its subsidiaries, FWEPL and FCIPL;
- Repayment/pre-payment, in part or full, of certain borrowings availed by the company and its Subsidiaries, FWEPL and FCIPL; and
- General corporate purposes.
Flair Writing Industries Limited IPO Registrar:
Link Intime India Private Ltd
Flair Writing Industries Limited IPO Lead Manager(s):
Nuvama Wealth Management Limited Axis Capital Limited
Company Contact Information:
Flair Writing Industries Limited
63 B/C, Government Industrial Estate
Charkop, Kandivali West
Mumbai 400 067
