Flair Writing IPO: Allotment & GMP Insight

Parikshith Reddy

Flair Writing Industries IPO: An Insight into the Buzz, Allotment, and What Lies Ahead

Flair Writing Industries, a prominent name in the world of pens and stationery, has been making waves with its recent Initial Public Offering (IPO). With the anticipation running high, investors are eagerly awaiting the allotment and subsequent listing of shares.

The IPO, which garnered substantial attention, witnessed an overwhelming response from investors. Subscribed nearly 47 times, it reflected the confidence and interest the market holds in Flair Writing Industries. The pricing, set between Rs 288-304 per share, has set the stage for what could potentially be a lucrative listing.

Market observers have been keenly tracking the ‘Grey Market Premium’ (GMP) of Flair Writing’s unlisted shares, indicating a substantial premium of Rs 82 above the issue price. This premium translates to an anticipated listing gain of around 27%, showcasing investor enthusiasm and their willingness to pay a premium for these shares.

For those eagerly waiting for the allotment status, the process is streamlined. Investors can conveniently check their status through the official BSE website or the Link Intime portal. By entering their application number or PAN, they can easily track their shared application status, offering transparency and ease in the process.

https://linkintime.co.in/mipo/ipoallotment.html

The subscription numbers speak volumes about the investor appetite across different categories. Qualified Institutional Buyers (QIBs) oversubscribed by a whopping 115.60 times, while non-institutional investors showed strong interest with a 33.37 times subscription. Even the retail individual investors (RIIs) category attracted 13.01 times subscription, further underlining the widespread interest in Flair Writing Industries.

The utilization of the IPO proceeds has been outlined with clarity. Setting up a manufacturing facility, funding capital expenditure, and supporting working capital requirements reflect the company’s strategic vision for expansion and growth.

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Flair Writing Industries is not just about pens and stationery; it’s a brand that has diversified into manufacturing houseware products and steel bottles. With its 45-year-old flagship brand ‘Flair,’ it commands a significant market share in the writing instruments industry, a testament to its established presence and consumer trust.

The IPO’s book-running lead managers, Nuvama Wealth Management Ltd, and Axis Capital Ltd, have played a pivotal role in steering this IPO to success, reflecting their expertise and confidence in Flair Writing Industries’ prospects.

As the allotment process commences and the listing date draws near, the market awaits with bated breath. The IPO’s success story so far is not just a testament to Flair Writing Industries’ potential but also to the investor community’s confidence in the company’s growth trajectory. The listing on BSE and NSE on December 1 is poised to be an event eagerly watched by investors and industry enthusiasts alike.

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