Flair Writing IPO GMP today, price, Details, Date, Allotment 2023

Flair Writing IPO description – Flair Writing Limited is coming up with its Initial public offering. The IPO will be open for subscription on November 22, 2023

 

Flair Writing IPO – Details

 

IPO Open Date 22 November 2023
IPO Close Date 24 November 2023
Issue Type Book Built Issue IPO
Issue Size 1,95,06,579 Shares Worth ₹593.00 Crore

Fresh Issue: 96,05,263 Shares Worth ₹292.00 Crore

Offer For Sale: 99,01,316 Shares Worth ₹301.00 Crore

Face Value ₹5 per equity share
IPO Price ₹288 – ₹304
Market Lot 49 Shares
Min Order 49 Shares (1 Lot)
Listing At BSE, NSE
Register Link Intime India Private Ltd
Retail Shares Offered 35%
QIB Shares Offered 50%
NII (HNI) Shares Offered 15%

 

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Flair Writing IPO – Date Schedule

 

IPO Opening Date 22 November 2023
IPO Closing Date 24 November 2023
Finalization of Basis of Allotment 30 November 2023
Refunds Initiation 01 December 2023
Transfer of shares to demat accounts 04 December 2023
Date of IPO Listing 05 December 2023

 

Flair Writing IPO- about company 

 

Flair Writing Industries Limited is engaged in developing and manufacturing writing instruments that are tailored to today’s continuously shifting market. FLAIR is an ISO 9001 : 2015; ISO 14001 : 2015 certified company, adhering to global business & social norms. 

The company’s flagship brand “Flair” has enjoyed a market presence of over 45 years. As of March 31, 2023, they offered 699 different products.

The company owns several brands including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and the ZOOX.

As of March 31, 2023, they are among the Top-3 players in the overall writing instruments industry in FY2023 and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India.

Furthermore, the company has recently ventured into manufacturing a diverse range of houseware products such as casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of our subsidiaries, FWEPL.

In Financial Year 2023, they sold 130.36 crore units of pens, of which 97.53 crore units or 74.82% was sold domestically, and 32.83 crore units or 25.18% was exported globally.

As of March 31, 2023, Flair had the largest distributor/dealer network and wholesale/retailer network, in the writing instruments segment in India, comprising approximately 7,700 distributors/dealers and approximately 315,000 wholesalers/retailers, as of March 31, 2023.

The company also contract manufacture writing instruments as an OEM for export and for sale in India, which contributed 19.94%, 33.37% and 38.67% to their revenue from operations in the FY 2023, 2022 and 2021, respectively.

 

Flair Writing IPO
Flair Writing IPO

 

Flair Writing IPO- industry overview 

 

The  writing and creative  instruments industry in India  has experienced consistent growth between Financial  Years 2018 to 2020, driven by product innovation, design modifications, brand development by leading players, and high demand. The industry has witnessed a shift in its structure, with large organised players gaining market share over unorganised,  smaller  players. Large,  organised  players  have  been  able  to  grow  faster  than  the  industry  average  by diversifying their product portfolios and expanding distribution channels. However, in Financial Year 2021 due to the Covid-19 pandemic there was closure of schools and institutions resulting in a subdued demand for products, leading to a 39% decline in Financial Year 2021. As offices reopened and schools restarted, the industry started witnessing a pick-up in demand in Financial Year 2022, with industry surpassing pre-pandemic levels, in Financial Years 2023. Overall, the industry expanded at a CAGR of 38.3% between Financial Years 2021 and 2023.

 

Over  Financial  Years  2018  to  23,  the  writing  and  creative  instruments  industry  experienced  price  growth  across various segments. However, the extent of price increases varied among these segments. Notably, pens demonstrated the highest growth in prices, closely followed by the art and hobby and marker segments.

 

Indian writing and creative instruments industry to grow at 7.7 –8.4% CAGR over Financial Years 2023 –28The rising focus on education, which is also reflected in the rising literacy rate for the country, coupled with the rising trend of parallel education in recent years, characterised by the emergence of coaching classes, training programmes, etc. is expected to provide impetus to the industry. Apart from this, with the return to offices, demand from the office-going population is also expected to contribute to the growth of the industry going forward. Further introduction of NEP by government of India focusing on education penetration in the country and the skill development programs by government for Medium, Small and Micro Enterprises (“MSMEs”) coupled with growth in the sector aiding in addition of workforce would further bolster the writing and creative instruments industry.

 

Flair Writing Financial Performance

 

FY 2022 FY 2023 Q1 FY 2024
Revenue 577.40 942.66 246.70
Expenses 514.19 795.49 205.55
Net income 55.33 117.94 31.37
Margin (%) 9.58 12.51 12.72

Figures in INR Crores

 

Flair Writing 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

 

Flair Writing IPO Prospectus

 

 

Flair Writing IPO -Competitive Strengths

 

  • Diversified range of products across various price points;
  • Largest pan-India distributor/dealer network and wholesale/retailer network;
  • Largest player in the pens writing instruments segment in India;
  • Historical track-record of strong financial performance with industry-leading profitability.
  • Ability to partner with international brands in the writing instruments industry and one of the largest exporter of writing and creative instruments in India;
  • High quality manufacturing at a large scale coupled with innovation capabilities.

 

Object Of The Issue

 

  • Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (“New Valsad Unit”);
  • Repayment/pre-payment, in part or full, of certain borrowings availed by the Company and the Subsidiaries, FWEPL and FCIPL;
  • Funding capital expenditure of the Company and our Subsidiary, FWEPL;
  • Funding working capital requirements of the Company and the Subsidiaries, FWEPL and FCIPL;
  • General corporate purposes.

 

Flair Writing IPO GMP Today

 

IPO GMP Kostak Subject to Sauda
60

 

Flair Writing IPO Allotment Status

Flair Writing IPO allotment status will be available on the Intime’s website. Click on this link to get allotment status.

Flair Writing IPO – Lots Size & Price

 

Application Lots Shares Amount
Retail (Minimum) 1 49 14,896
Retail (Maximum) 13 637 1,93,648
S-HNI (Minimum) 14 686 2,08,544
S-HNI (Maximum) 66 3,283 9,98,032
B-HNI (Minimum) 67 3,332 10,12,928

 

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