Flair Writing Industries IPO Allotment Likely Today: Check GMP, Listing Date.
Unlisted shares of Flair Writing are buying and selling Rs 82 greater within the gray market, which is a 26.97 per cent itemizing achieve from the general public subject
Flair Writing IPO Allotment: The share allotment of pen maker Flair Writing Industries is prone to begin tonight, on Wednesday. Once finalised, the itemizing of the 593-crore IPO, which was opened for public subscription between November 22 and November 24, will happen on December 1 on the BSE and NSE.
The IPO acquired a complete subscription of 46.68 instances. The value vary was mounted at Rs 288-304 a share.
Flair Writing IPO GMP Today
According to market observers, unlisted shares of Flair Writing are at present buying and selling Rs 82 greater within the gray market as in contrast with its subject value. The Rs 82 gray market premium or GMP means the gray market is anticipating a 26.97 per cent itemizing achieve from the general public subject.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the difficulty value.
Flair Writing IPO: How To Check Allotment Status
Once the allotment is finalised, buyers can examine 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’ choice.
Your share software standing will seem in your display.
You may go to direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and examine 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 towards 1,44,13,188 shares on provide.
The quota for certified institutional consumers (QIBs) acquired subscribed 115.60 instances, whereas the portion for non-institutional buyers acquired 33.37 instances subscription. The class for retail particular person buyers (RIIs) attracted 13.01 instances subscription. Flair Writing’s IPO had a contemporary subject 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 subject might 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 might be used to help the working capital necessities of the corporate and subsidiaries FWEPL and Flair Cyrosil Industries. Also, the cash might be used for fee of the mortgage and normal company functions.
The firm, which owns the over 45-yr-previous flagship model ‘Flair’, is among the many high three gamers within the general writing devices trade 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 generally known as Edelweiss Securities Ltd) and Axis Capital Ltd had been the guide-operating lead managers to the IPO.
