Flair Writing IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Flair Writing Limited IPO GMP

Flair Writing IPO is a book-built issue totaling Rs 593.00 crores. It comprises a fresh issue of 0.96 crore shares valued at Rs 292.00 crores and an offer for sale of 0.99 crore shares totaling Rs 301.00 crores.

The Flair Writing IPO bidding commenced on November 22, 2023, concluding on November 24, 2023. Allotment results were confirmed on Wednesday, November 29, 2023. Shares were officially listed on both the BSE and NSE exchanges on December 1, 2023.

The IPO price range is fixed at ₹288 to ₹304 per share with a minimum lot size of 49 shares. Retail investors need to invest a minimum of ₹14,896. For sNII, the minimum lot size investment is 14 lots (686 shares), totaling ₹208,544, and for bNII, it is 68 lots (3,332 shares), totaling ₹1,012,928.

Nuvama Wealth Management Limited and Axis Capital Limited serve as the book running lead managers for the Flair Writing IPO, with Link Intime India Private Ltd acting as the registrar for the issue.

Objective of IPO.

The issue consists of both offer sale and fresh issue.

Offer For Sale: INR 301 Cr. (0.99 Crore shares)

Fresh Issue: INR 292 Cr. (0.96 Crore shares)

The fresh funds will be used in the following sections:

Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat.
Funding capital expenditure of Company and its Subsidiary, FWEPL.
Funding working capital requirements.
Repayment/pre-payment, in part or full of certain borrowings either by the company or its Subsidiaries, FWEPL and FCIPL.
General corporate purposes.