Flair Writing Industries IPO: Stationery company to hit capital market to raise ~INR 292 crores through public issue

Flair Writing Industries is into Consumer Stationery and is looking raise funds through Fresh Issue and Offer For Sale

Flair Writing Industries to raise Fresh Issue aggregating up to Rs 365 crores and an Offer for Sale up to Equity Shares through public issue IPO

Flair Writing Industries IPO Update:

Flair Writing Industries Limited IPO: Mumbai based Flair Writing Industries Limited established in the year 1986 and is into Consumer - Stationery sector.

Company is promoted by Mr. Khubilal Jugraj Rathod,Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod, Mr. Sumit Rathod.. Pre-Offer Promoter and Promoter group stake in the company is 97.49%.

Flair Writing Industries Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 292 Crores calculated on upper price band (face value of INR 5 per share) via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 365 crores and an Offer for Sale Equity shares aggregating up to Rs380 crores. Axis Capital, Nuvama Wealth have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 288 to Rs 304 with lot size of 49 shares and in multiples thereof. Objects of the issue is 1) Setting up the New Valsad Unit - Rs95.6cr, 2) Funding capital expenditure (incl subsidiary) - Rs86.7 cr, 3) Funding working capital requirements - Rs77 cr., 4) Repayment/pre-payment of debt - Rs43 cr and 5) General corporate purposes.

IPO Dates:

IPO will open on November 22, 2023 and close on November 22, 2023. Tentative date of listing on stock exchanges is December 05, 2023

Want to know more details about the IPO, please visit here Flair Writing Industries Limited

Source: SEBI, BSE, NSE, DRHP, Flair Writing Industries, Industry Data

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