Flair Writing Industries IPO: Pen maker Flair Writing Industries on Friday made a strong stock market debut with its shares opening at a premium of 65.46 per cent at Rs 503 on the BSE, compared with its IPO issue price of Rs 304. On the NSE, the shares opened at Rs 501 apiece.
The shares, however, fell after stellar listing. At 10:21 am, Flair Writing Industries’ shares were trading at Rs 452.7 on the BSE, which is lower than its opening price of Rs 503.
Shivani Nyati, head of wealth at Swastika Investmart, said, “Flair Writing Industries Ltd made a strong debut on the stock markets, listing at Rs 503 per share, a premium of 65.4 per cent over its IPO price of Rs 304. The listing was even above expectations, given the strong fundamentals of the company and the positive investor sentiment surrounding the IPO.”
She said Flair Writing is a leading manufacturer of writing instruments in India with a well-diversified product portfolio and a strong brand reputation. The company has a proven track record of growth and profitability. The IPO was oversubscribed 49.28 times, indicating strong investor interest.
“Overall, Flair Writing Industries Ltd. is a fundamentally sound company with a strong growth outlook,” Nyati said.
Flair Writing IPO was opened for public subscription between November 22 and November 24. It received a 49.28 times subscription. The price range for the offer was fixed at Rs 288-304 a share.
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