BUSINESS

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BUSINESS

Flair Writing IPO lists at 65% premium

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Stellar listing

Shares of Flair Writing made a strong debut on the stock exchanges at Rs. 503 apiece, with a premium of 65% over the issue price of Rs. 304.

2

Quick profit-booking

Post-listing, investors wasted no time in cashing out their profits, causing the shares to hit the lower circuit. The shares dropped 10% from the listing price to hit Rs. 452.7 apiece on BSE.

3

IPO's objective

The IPO proceeds will be used for funding a new manufacturing facility, for capital expenditure, and for working capital requirements.

4

Impressive margins FY22

In FY22, the company reported the highest operating and net income margins among peers at 17.8% and 9.6%, respectively.

5

IPO 46.6x oversubscribed

The firm holds a 9% market share in India's writing and creative instruments industry and saw its IPO oversubscribed by 46.6 times.

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Factors behind strong listing

Experts credit the listing success to growth in the company's writing instruments segment, diversification into housewares, and ongoing expansion strategies.