Flair Writing Industries Limited IPO
Basic information about the company: Incorporated in 1976, Flair has been a stalwart in the development and manufacturing of writing instruments tailored to the ever-evolving market. As an ISO 9001:2015 and ISO 14001:2015 certified company, FLAIR upholds global business and social norms, fostering innovation and quality. Beyond traditional writing instruments, Flair has recently expanded into manufacturing a range of houseware products through its subsidiary, FWEPL. This expansion includes casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. Promoter Holding
The driving force behind Flair's success lies in the hands of its promoters, namely Mr. Khubilal Jugraj Rathod, Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod, and Mr. Sumit Rathod. The pre-issue shareholding stands at an impressive 97.49%, demonstrating the promoters' unwavering commitment. Objectives of the Flair Writing IPO
The Flair Writing IPO aims to channel net proceeds towards various critical objectives:
Setting up a New Manufacturing Facility: Flair plans to establish a cutting-edge manufacturing facility for writing instruments in District Valsad, Gujarat, referred to as the New Valsad Unit.
Funding Capital Expenditure: The IPO funds will contribute to the capital expenditure of Flair and its subsidiary, FWEPL, ensuring continued growth and innovation.
Working Capital Requirements: Adequate funding for working capital is crucial, and the IPO aims to fulfil these requirements for both Flair and its subsidiaries, FWEPL and FCIPL.
Repayment/Pre-payment of Borrowings: A portion of the complete repayment of certain borrowings availed by Flair and its subsidiaries, FWEPL and FCIPL, is part of the IPO's financial strategy.
General Corporate Purposes: The net proceeds will also be allocated for general corporate purposes, facilitating overall business growth and sustainability.
Flair Writing IPO: Key Details IPO Dates: 22 to 24 November 2023 Price Band: ₹288 to ₹304 per share Lot Size: 49 Shares Total Issue Size: 593 Crs Retail Quota: 35% Gmp: +20% (Only for information) Link for checking Allotment status:
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