Flair Writing Industries is the largest player in the pen segment, reporting a revenue of Rs 754.2 crore in FY23 from the pen writing instruments segment in India. Its product range includes a variety of pens (ball pens, fountain pens, gel pens, roller pens, and metal pens), which represent its largest category in terms of the number of products offered. Additionally, the company offers stationery products (mechanical pencils, highlighters, correction pens, markers, gel crayons, and kids’ stationery kits) and calculators.
| Bidding Dates |
|---|
| 22 Nov 2023 - 24 Nov 2023 |
| Subscription |
|---|
| 46.68x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,112 | 1 | 13 | 49 | 19.5 M | ₹288 - ₹304 | 81.49 % | ₹5617.9 M - ₹5930.0 M | RHP DOC |
Flair Writing IPO SUBSCRIPTION STATUS
24 Nov '23Flair Writing IPO overall subscription rate was 46.68 times the total available shares
Flair Writing IPO retail subscription rate was 13.01 times in the retail segment
Flair Writing IPO non-institutional investor subscription rate was 33.37 times in the non-institutional investor category
Flair Writing IPO Qualified Institutional Bidder subscription rate was 115.6 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Nov 2023 (Day 3) | 13.01x | 33.37x | 115.6x |
23 Nov 2023 (Day 2) | 7.15x | 10.04x | 1.36x |
22 Nov 2023 (Day 1) | 2.86x | 2.78x | 0.53x |
Flair Writing FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 321.4 | 2,467.0 | 16.1 | -79.7 | 21.2% |
| FY23 | 1,181.0 | 9,426.6 | 964.4 | 222.8 | 19.5% |
| FY22 | 551.5 | 5,774.0 | 350.4 | -17.7 | 16.9% |
| FY21 | 9.9 | 2,979.9 | 603.9 | 552.7 | 7.7% |
Flair Writing IPO SUBSCRIPTION STATUS DETAILS
Flair Writing had 19.5 M shares on offer
Flair Writing IPO offer price was in the range ₹288 - ₹304
Flair Writing IPO minimum Investment was ₹14112
Flair Writing IPO issue size was ₹ 5617.9 M - ₹ 5930.0 M
Flair Writing had a minimum lot size of 49 Shares per application
Flair Writing NUMBER OF SHARES ON OFFER
Flair Writing IPO IMPORTANT DATES
| Issue Open Date | 22 Nov 2023 |
| Issue close Date | 24 Nov 2023 |
| Allotment Date | 29 Nov 2023 |
| Refund Date | 30 Nov 2023 |
| Demat Account Credit Date | 30 Nov 2023 |
| Listing Date | 01 Dec 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Flair Writing Allotment Status | Exchange |
Flair Writing IPO subscription opened on 22 Nov 2023, and closed on 24 Nov 2023
IPO allotment for Flair Writing was finalized on Wednesday, 29 Nov 2023
IPO listing for Flair Writing was on NSE and BSE on Friday, 01 Dec 2023
Flair Writing IPO LISTING GAINS
| Issue Price (adjusted) | 304.0 |
| Listing Open Price | 501.0 |
| Listing Close Price | 450.9 |
| Listing Gain% | 64.8% |
| Current Gain% | -17.3% |
Flair Writing Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Flair Writing Industries Ltd | 251.4 | 2649.1 | 19 | 1.1 | 2.1 | 12.2 | 10.2 | 1270.9 | 15.1 | 139.8 | 16.9 | 13.3 | 16.9 |
| DOMS Industries Ltd. | 2250.1 | 13655.5 | 62.8 | 13.6 | 5.6 | 18.9 | 13.4 | 2344.9 | 21.2 | 230.2 | 13.8 | 35.8 | 4.6 |
| Kokuyo Camlin Ltd. | 84 | 842.4 | 38.2 | 0 | 1 | 7.7 | 5.3 | 806.5 | 5.7 | 24.8 | 325 | 2.2 | 6412.7 |
| Linc Ltd. | 100.4 | 597.6 | 19 | -1.3 | 1.1 | 12.7 | 9.1 | 551.3 | 0.6 | 32.7 | -13.9 | 5.3 | -14.1 |
| Creative Graphics Solutions India Ltd. | 150.3 | 365 | 19.5 | 14.9 | 6.7 | 348.9 | 36 | 18.8 | -9.7 | 7.7 | |||
| Alkosign Ltd. | 61.5 | 66.4 | -13.9 | -16.9 | -10.6 | 26.9 | -48.1 | -4.8 | -226.3 | -4.4 |
Flair Writing INFORMATION ON IPO ISSUE
About Flair Writing
Flair Writing Industries is the largest player in the pen segment, reporting a revenue of Rs 754.2 crore in FY23 from the pen writing instruments segment in India. Its product range includes a variety of pens (ball pens, fountain pens, gel pens, roller pens, and metal pens), which represent its largest category in terms of the number of products offered. Additionally, the company offers stationery products (mechanical pencils, highlighters, correction pens, markers, gel crayons, and kids’ stationery kits) and calculators.
Object of the Issue
- Setting up a new manufacturing facility for writing instruments in Valsad district, Gujarat.
- Funding the capital expenditure of the company and its subsidiaries.
- Repayment/pre-payment, in part or full, of certain borrowings availed by the company and its subsidiaries.
- General corporate purposes.
Flair Writing - PROMOTERS
| Name |
|---|
| Khubilal Jugraj Rathod |
| Vimalchand Jugraj Rathod |
Flair Writing Book Running Lead Manager
Nuvama Wealth Management Limited
flair.ipo2023@nuvama.com
Axis Capital Limited
fwil.ipo@axiscap.in
Flair Writing Registrar to the Offer
Link Intime India Private Limited
flairwriting.ipo@linkintime.co.in
Flair Writing Strengths
Largest player
The company is the largest player in the pen segment, reporting a revenue of Rs 754.2 crore in FY23 from the pen writing instruments segment in India
Diversified range of products
The company boasts the most comprehensive product portfolio in the writing and creative instruments industry in India. It offers an extensive range of products across various price points and consumer segments
Largest pan-India network
The company possesses the largest pan-India distributor/dealer network and a widespread wholesale/retailer network in the writing instruments industry, along with a strong presence in targeted markets abroad
Flair Writing Risks
Dependent on the brand name
The company derives a significant portion of its revenue from the sale of products under the 'Flair', 'Hauser', and 'Pierre Cardin' brands. Any harm to these brands or their reputation may adversely affect the business
Legal proceedings
There are legal proceedings pending involving the company, its promoters, and directors, which, if determined unfavorably, may have a material adverse effect on the business
Contingent liabilities
The company has certain contingent liabilities disclosed and not provided for as of March 31, 2023. If these materialise, they could have a material adverse effect on the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 301.0 crore, of 9,901,316 shares. It also consists of a fresh issue of Rs 292.0 crore.
The promoters of the company are Khubilal Jugraj Rathod and Vimalchand Jugraj Rathod.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 288.0 - 304.0.
The IPO application opens on Nov 22, 2023 and closes on Nov 24, 2023.
The minimum lot size for the IPO is 49. The maximum lot size for the IPO is 637.
For all category investors, the minimum application amount for this IPO is Rs. 14,112.0, the maximum value for this IPO is Rs 193,648.0.
This IPO will be allotted on Nov 29, 2023.
The refund will be credited to your account on Nov 30, 2023.
The allotted shares will be credited to your demat on Nov 30, 2023.
Flair Writing Industries Ltd.’s shares listed on the stock exchanges on Dec 01, 2023.