Flair Writing Industries IPO
Flair Writing Industries IPO — date, price band, lot size & details 2023
Flair Writing Industries listed on 1 Dec 2023 at ₹501, 64.8% above the ₹304 issue price.
Flair Writing Industries makes pens, stationery and calculators under the Flair brand, and is among the top three players in India's writing instruments industry. Its total income was Rs 954.29 crore in FY2023.
Stock price
Flair Writing Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 Nov 2023
- Close 24 Nov 2023
- Allotment 29 Nov 2023
- Refund/credit 30 Nov 2023
- Listing 01 Dec 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Nov, 2023 |
|---|---|
| Price Band | ₹288 – ₹304 |
| Face Value | ₹5 |
| Lot Size | 49 Shares |
| Issue Size | ₹593 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,896 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 49 shares at the ₹304 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 49 | ₹14,896 |
| Retail (max) | 13 | 637 | ₹1,93,648 |
| S-HNI (min) | 14 | 686 | ₹2,08,544 |
| S-HNI (max) | 67 | 3,283 | ₹9,98,032 |
| B-HNI (min) | 68 | 3,332 | ₹10,12,928 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 310.87 crore in FY2021 to Rs 954.29 crore in FY2023.
- 02Profit after tax rose from Rs 0.99 crore in FY2021 to Rs 118.10 crore in FY2023.
- 03The source puts return on net worth at 31.17% and the PAT margin at 12.53%.
- 04It is among the top 3 writing instruments players in India, with about 9% share.
- 05Rs 292.00 crore of the issue was fresh capital for new capacity, working capital and debt repayment.
Risks · 5
- 01Rs 301.00 crore of the Rs 593 crore issue was offer for sale by the promoter group.
- 02The pre-issue P/E was 23.36 at the upper band of Rs 304, as per the source.
- 03FY2021 profit was only Rs 0.99 crore, showing how sharply results can swing when schools and offices shut.
- 04Plastic and raw material prices drive costs, and the pen market faces pressure from digital use. Borrowing was Rs 126.67 crore on 30 June 2023.
- 05Promoters and the promoter group held 97.49% before the issue and about 79.21% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Flair Writing Industries offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 765.04 | 684.18 | 557.49 | 480.66 |
| Total Income | 248.50 | 954.29 | 587.64 | 310.87 |
| Profit After Tax | 32.14 | 118.10 | 55.15 | 0.99 |
| NET Worth | 470.16 | 437.99 | 319.86 | 264.65 |
| Total Borrowing | 126.67 | 115.59 | 126.33 | 130.31 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Flair Writing Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Flair Writing Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| P/E Ratio (x) | 23.36 | 25.70 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹304 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹273.04 Cr of the issue is earmarked to named objects.
About the company
As per CRISIL, it is among the top three players in the overall writing instruments industry, with about 9% share of India's writing and creative instruments industry as of 31 March 2023.
It makes and distributes writing instruments such as pens, stationery products and calculators, and has diversified into houseware products and steel bottles. As of the RHP date it had 11 manufacturing facilities.
The IPO was Rs 593 crore, with Rs 292.00 crore of fresh issue and Rs 301.00 crore of offer for sale by promoters and promoter group members. Rs 55.99 crore was planned for a new writing instruments unit in Valsad, Gujarat, and Rs 86.75 crore for capital expenditure.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Flair Writing Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Flair Writing Industries?
The current Grey Market Premium is ₹90, or 30% over the issue price.
What is the Flair Writing Industries IPO price band?
₹288 to ₹304, on a face value of ₹5.
When is the allotment?
The basis of allotment is 29 November 2023, with listing on 1 December 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
