Flair Writing IPO will open for subscription from 22 November 2023. The company aims for an issue size of ₹593 Cr through this IPO.
Company Overview
| Full name | Flair Writing Industries Limited |
| Sector | Fast Moving Consumer Goods |
| Industry | Printing & Stationery |
| Company Website | https://www.flairworld.in/ |
About Company
Incorporated in 2016, Flair Writing Industries manufactures and distributes writing instruments including pens, stationery products, and calculators. Leveraging its manufacturing capabilities and existing customer base in the writing and creative instruments business, it has also diversified into manufacturing houseware products and steel bottles.
In FY 2023, Flair Writing sold 1,303.60 million units of pens, of which 975.30 million units, or 74.82% were sold domestically, and 328.30 million units, or 25.18% were exported globally. Compared with other key organized players in the writing and creative instruments industry such as DOMS, Camlin, Linc, and Luxor, the company had the largest 162 distributor/dealer network and wholesale/retailer network, in the writing instruments segment in India, according to CRISIL, comprising approximately 7,700 distributors/dealers and approximately 315,000 wholesalers/retailers, as of 31 March 2023.
Flair Writing Industries products are sold under its ‘Flair’ brand, its principal brands ‘Hauser’ and ‘Pierre Cardin’ and the company has recently introduced ‘ZOOX’ in India. Flair Writing offered 699 different products as of 31 March 2023.
The Objectives of the Issue
- Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (“New Valsad Unit”);
- Funding capital expenditure of our Company and our Subsidiary, FWEPL;
- Funding working capital requirements of our Company and our Subsidiaries, FWEPL and FCIPL;
- Repayment/pre-payment, in part or full, of certain borrowings availed by our Company and our Subsidiaries, FWEPL and FCIPL;
- General corporate purposes.
Flair Writing IPO Timetable
| IPO Opening date | 22 November 2023 |
| IPO Closing | 24 November 2023 |
| Basis of Allotment | 30 November 2023 |
| Initiation Refund | 01 December 2023 |
| Credit to Demat Account | 04 December 2023 |
| Listing Date | 05 December 2023 |
Flair Writing IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹593 Cr |
| Fresh Issue | ₹292 Cr |
| Offer for sale | ₹301 Cr |
| Face value | ₹05 per share |
| Price Band | ₹288 to ₹304 per share |
| Lot size | 49 Shares |
| Shareholding pre-issue | 95,790,115 |
| Shareholding post-issue | – |
| Listing Exchange | BSE & NSE |
Flair Writing IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,896 |
| Retail (Max) | 13 | 637 | ₹193,648 |
| S-HNI (Min) | 14 | 686 | ₹208,544 |
| S-HNI (Max) | 67 | 3,283 | ₹998,032 |
| B-HNI (Min) | 68 | 3,332 | ₹1,012,928 |
Flair Writing IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Flair Writing Industries Limited Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 297.99 | 577.40 | 942.66 | 246.70 |
| Expenses | 308.74 | 514.19 | 795.49 | 205.55 |
| Net income | 1.18 | 55.33 | 117.94 | 31.37 |
| Margin (%) | 0.40 | 9.58 | 12.51 | 12.72 |
Flair Writing Industries Limited Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.11 | 5.91 | 12.66 |
| PE ratio | – | – | 22.75 – 24.01 |
| RONW (%) | 0.37 | 18.87 | 31.17 |
| NAV | 28.34 | 34.25 | 46.90 |
| ROCE (%) | 0.14 | 17.41 | 31.24 |
| EBITDA (%) | 7.72 | 16.90 | 19.47 |
| Debt/Equity | 0.49 | 0.39 | 0.26 |
Company Promoters
- Mr. Khubilal Jugraj Rathod
- Mr. Vimal Jugraj Rathod.
Promoter Holding
| Pre Issue Share Holding | 97.49% |
| Post Issue Share Holding | – |
Flair Writing IPO Lead Manager(s)
- Nuvama Wealth Management Limited
- Axis Capital Limited
Flair Writing Industries Limited Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: flairwriting.ipo@linkintime.co.in
Website: www.linkintime.co.in
Flair Writing Industries Limited Contact Details
FLAIR WRITING INDUSTRIES LIMITED
63 B/C, Government Industrial Estate, Charkop,
Kandivali West, Mumbai 400 067, Maharashtra, India
Phone: +91 22 4203 0405
E-mail: investors@flairpens.com
Website: www.flairworld.in
Flair Writing IPO Allotment Status
Flair Writing IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Flair Writing IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
