Flair Writing Industries IPO lists at 65 per cent premium.
After the robust itemizing, Flair Writing Industries’ shares have been buying and selling at Rs 452.7 on the BSE throughout early commerce, decrease than its opening value of Rs 503
Flair Writing Industries IPO: Pen maker Flair Writing Industries on Friday made a robust inventory market debut with its shares opening at a premium of 65.46 per cent at Rs 503 on the BSE, in contrast with its IPO difficulty value of Rs 304. On the NSE, the shares opened at Rs 501 apiece.
The shares, nevertheless, fell after stellar itemizing. At 10:21 am, Flair Writing Industries’ shares have been buying and selling at Rs 452.7 on the BSE, which is decrease than its opening value of Rs 503.
Shivani Nyati, head of wealth at Swastika Investmart, mentioned, “Flair Writing Industries Ltd made a strong debut on the stock markets, listing at Rs 503 per share, a premium of 65.4 per cent over its IPO price of Rs 304. The listing was even above expectations, given the strong fundamentals of the company and the positive investor sentiment surrounding the IPO.”
She mentioned Flair Writing is a number one producer of writing devices in India with a effectively-diversified product portfolio and a robust model popularity. The firm has a confirmed observe report of progress and profitability. The IPO was oversubscribed 49.28 instances, indicating robust investor curiosity.
“Overall, Flair Writing Industries Ltd. is a fundamentally sound company with a strong growth outlook,” Nyati mentioned.
Flair Writing IPO was opened for public subscription between November 22 and November 24. It obtained a 49.28 instances subscription. The value vary for the provide was fastened at Rs 288-304 a share.
