Flair Writing Industries Ltd. raised ₹177 crore from 23 anchor investors by allotting 58,51,972 equity shares at a price band of ₹304 (including share premium of ₹299 per equity share).
“Out of the total allocation of 58,51,972 Equity Shares to the Anchor Investors, 27,70,264 Equity Shares (ie 47.34% of the total allocation to Anchor Investors) were allocated to 6 domestic mutual funds implemented through a total of 14 schemes,” the company informed the exchange houses.
The Flair Writing IPO subscription date is scheduled for Wednesday, November 22, and will close on Friday, November 24. Its IPO price band is set in the range of ₹288 to ₹304 per equity share of the face value of the ₹5.
The floor price is 57.60 times the face value of the equity shares and the cap price is 60.80 times the face value of the equity shares. The price to earnings ratio based on diluted EPS for the financial year 2023 for the company at the higher end of the price band is as high as 24.01 times and the lower end of the price band is 22.75 times. Flair’s IPO lot size is 49 equity shares and in multiples of 49 equity shares thereafter.
Flair Writing Industries Limited 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 . reserved for Retail Investors.
The public offer comprises a fresh issue of shares up to ₹292 crore and an offer for sale (OFS) of equity shares with a face value of ₹2 each by promoter and others aggregating up to ₹301 crore. The amount of IPO is Flair Writing ₹593 crores.
Nuvama Wealth Management Limited and Axis Capital Limited are the registrar of the issue Link Intime India Private Ltd.
Flair is a company that designs and manufactures writing instruments specifically suited to today’s ever-changing market.
Flair Writing GMP IPO today
Flair Writing Industries Limited IPO is GMP or gray market premium ₹60, which means shares are trading at their issue price ₹304 with him ₹60 premium in the gray market according to investorgain.com
A ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
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Updated: 21 November 2023, 10:09 PM IST
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