Flair Writing Industries IPO: Check Allotment Status and GMP Today.
Unlisted shares of Flair Writing are currently trading Rs 130 higher on the gray market, which is a listing gain of 42.76 percent over the public issue.
Flair Writing IPO Allocation: The share allocation of pen maker Flair Writing Industries was completed on Wednesday evening, November 29. Now, the listing of the Rs 593 crore IPO, which opened for public subscription between November 22 and 24, is likely to take place on an exchange. strong note on Friday, December 1 on the BSE and the NSE.
The IPO received a total of 46.68 subscriptions.
Flair Writing IPO GMP today
According to market observers, unlisted shares of Flair Writing are currently trading Rs 130 higher in the gray market compared to the issue price. The gray market premium of Rs 130 or GMP means that the gray market expects a listing gain of 42.76 percent from the public issue. The price range of the IPO was fixed at Rs 288-304 per share.
The 'gray market premium' indicates that investors are willing to pay more than the issue price.
Flair Writing IPO: How to Check Allotment Status
Investors can check the allotment status of Flair Writing IPO via the BSE website:
1) Visit the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under 'Issue type', select 'Shares'.
3) Under 'Issue Name', select 'Flair Writing Industries Ltd' from the drop box.
4) Enter your application number or Permanent Account Number (PAN).
5) Then click on 'I'm not a robot' to verify yourself and click on the 'Search' option.
The status of your sharing request appears on your screen.
You can also visit the direct Link Intime portal – linkintime.co.in/mipo/ipoallotment.html and check the IPO status of Flair Writing Industries Limited.
Flair Writing IPO Details
The Flair Writing Industries IPO received bids for 67,28,33,455 shares against 1,44,13,188 shares on offer.
The quota for qualified institutional buyers (QIBs) was subscribed 115.60 times, while the portion for non-institutional investors was subscribed 33.37 times. The retail retail investor (RII) category attracted 13.01 times more entries. The Flair Writing IPO had a fresh issue of shares worth a total of Rs 292 crore and an offer for sale (OFS) of shares worth up to Rs 301 crore by promoters and promoter group entities.
Proceeds from the new release will be used to set up a writing instrument manufacturing facility in Valsad district of Gujarat; financing the capital expenditure of the company and its subsidiary Flair Writing Equipments Pvt Ltd (FWEPL). In addition, the proceeds will be used to support the working capital needs of the company and its subsidiaries FWEPL and Flair Cyrosil Industries. The money will also be used for loan payments and for general corporate purposes.
The company, which owns the over 45-year-old flagship brand 'Flair', is among the top three players in the overall writing instrument industry with a market share of approximately nine percent as of March 2023. It manufactures and distributes writing instruments, including pens, office supplies and calculators, and has also diversified into the production of household goods and steel bottles.
Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd) and Axis Capital Ltd were the lead managers in the IPO.