Flair Writing Industries IPO: Check allotment standing and GMP at this time.
Unlisted shares of Flair Writing are at present buying and selling Rs 130 increased within the gray market, which is a 42.76 per cent itemizing acquire from the general public problem
Flair Writing IPO Allotment: The share allotment of pen maker Flair Writing Industries has been finalised on Wednesday night, November 29. Now, the itemizing of the 593-crore IPO, which was opened for public subscription between November 22 and November 24, is more likely to happen on a powerful notice on Friday, December 1, on the BSE and the NSE.
The IPO acquired a complete subscription of 46.68 occasions.
Flair Writing IPO GMP Today
According to market observers, unlisted shares of Flair Writing are at present buying and selling Rs 130 increased within the gray market as in contrast with its problem value. The Rs 130 gray market premium or GMP means the gray market is anticipating a 42.76 per cent itemizing acquire from the general public problem. The value vary of the IPO was fastened at Rs 288-304 a share.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the problem value.
Flair Writing IPO: How To Check Allotment Status
Investors can verify Flair Writing IPO allotment standing by way of BSE web site:
1) Go to the official BSE web site by way of the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, choose ‘Equity’.
3) Under ‘Issue Name’, choose ‘Flair Writing Industries Ltd’ within the dropbox.
4) Enter your software quantity, or the Permanent Account Number (PAN).
5) Then, click on on the ‘I am not a robot’ to confirm your self and hit ‘Search’ possibility.
Your share software standing will seem in your display screen.
You may go to direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and verify the Flair Writing Industries Limited IPO allotment standing.
Flair Writing IPO Details
The Flair Writing Industries IPO acquired bids for 67,28,33,455 shares in opposition to 1,44,13,188 shares on supply.
The quota for certified institutional consumers (QIBs) acquired subscribed 115.60 occasions, whereas the portion for non-institutional buyers acquired 33.37 occasions subscription. The class for retail particular person buyers (RIIs) attracted 13.01 occasions subscription. Flair Writing’s IPO had a contemporary problem of fairness shares aggregating as much as Rs 292 crore and an Offer for Sale (OFS) of fairness shares price as much as Rs 301 crore by promoters and promoter group entities.
Proceeds of the contemporary problem shall be used for establishing a producing facility for writing devices at Valsad district in Gujarat; funding the corporate’s capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL). Besides, the proceeds shall be used to assist the working capital necessities of the corporate and subsidiaries FWEPL and Flair Cyrosil Industries. Also, the cash shall be used for fee of the mortgage and basic company functions.
The firm, which owns the over 45-yr-outdated flagship model ‘Flair’, is among the many high three gamers within the total writing devices business with a market share of about 9 per cent as of March 2023. It manufactures and distributes writing devices, together with pens, stationery merchandise, and calculators, and has additionally diversified into manufacturing houseware merchandise and metal bottles.
Nuvama Wealth Management Ltd (previously referred to as Edelweiss Securities Ltd) and Axis Capital Ltd had been the guide-working lead managers to the IPO.
