Flair Writing share price highlights: Share prices unchanged on BSE, NSE
Flair Writing Industries, which owns the over 45-year-old flagship brand 'Flair' got its initial public offering (IPO) listed on bourses on Friday, December 1. The IPO had opened for subscriptions from November 22 to 24.
On the last day of the subscription, the issue was subscribed 46.68 times. It had received bids for 67,28,33,455 shares against 1,44,13,188 shares on offer, as per NSE data....Read More
The quota for qualified institutional buyers (QIBs) got subscribed 115.60 times, while the portion for non institutional investors received 33.37 times subscription. The category for retail individual investors (RIIs) attracted 13.01 times subscription.
Flair Writing's IPO had a fresh issue of equity shares aggregating up to ₹292 crore and an Offer for Sale (OFS) of equity shares worth up to ₹301 crore by promoters and promoter group entities.
The issue had a price band of ₹288-304 a share.
The company, which owns the over 45-year-old flagship brand 'Flair', is among the top three players in the overall writing instruments industry with a market share of about nine per cent as of March 2023.
It manufactures and distributes writing instruments, including pens, stationery products, and calculators, and has also diversified into manufacturing houseware products and steel bottles.
Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd) and Axis Capital Ltd were the book-running lead managers to the IPO.
Flair Writing share price LIVE: Share prices unchanged on BSE, NSE
The shares of Flair Writing continue to remain unchanged at ₹452.70 a piece on BSE and ₹452.90 on NSE Nifty.
Flair Writing Share Price LIVE: Sensex up by 491 points, Nifty at 20,277
The BSE Sensex at 1.29 pm is up by 491 points at 67,480. The NSE Nifty is in green and trading at 20,277.
Flair Writing Share Price LIVE: Sensex up by 509 points, Nifty at 20,276
The BSE Sensex at 12.25 pm is up by 509 points at 67,497. The NSE Nifty is in green and trading at 20,276
Flair Writing share price LIVE updates: Shares down by 10% on BSE
Flair Writing share price LIVE updates: Flair Writing shares are trading 10 per cent down at ₹452.70 a piece on BSE and ₹452.90 on NSE Nifty
Flair Writing Share Price LIVE updates: How the company plans to invest the IPO proceeds
Proceeds from the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat, funding the company's capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL).
Flair Writing Share Price LIVE updates: Company's market valuation at ₹4,771.25 crore in early trade
Shares of pen maker Flair Writing Industries made a stunning debut on Friday, listing with a premium of over 65 per cent against the issue price of ₹304. The stock made its debut at ₹503, registering a jump of 65.45 per cent, on the BSE. It further rallied 69 per cent to ₹514.
At the NSE, it was listed at ₹501, up 64.80 per cent.
The company's market valuation stood at ₹4,771.25 crore during the morning trade.
Flair Writing Share Price LIVE updates: Shares had opened 64.8% higher than issue price
Flair Writing share price had opened at ₹501 per share, 64.8% higher than the issue price of ₹304, and on the BSE, Flair Writing shares listed at ₹503 apiece.
Flair Writing Share Price LIVE updates: Share trading in red on BSE and NSE
The share price of Flair Writing is currently trading in red on BSE Sensex and NSE. On BSE, the share is trading at ₹452.70 on BSE and ₹450.90 on the NSE