Flair Writing Listing price expected.

Next to the listing of Tata Technologies on Thursday, the market expects strong and rewarding listing from Flair Writing!

Flair Writing Industries is the largest player in pens segment reporting a revenue of Rs 7,541.8 million in Financial Year 2023 from the pens writing instruments segment in India, according to CRISIL. It is among the top three players in the overall writing instruments industry with a revenue of Rs. 9,155.5 million in Financial Year 2023 and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023.

What is the Subscription Status of Flair Writing Industries IPO? and how much support the IPO received during its subscription.
On 24 November 2023 @ 5.00 (Day 3) 
Review: strong flow of applications start
QIB:                  4118052  Shares   115.60 T
NII(10L+):        2059027  Shares     34.61 T
NII (<10L)        1029514  Shares     30.90 T
NII (Total)        3088541  Shares     33.37 T
RII:                   7206595  Shares     13.01 T
Total:             14413188  Shares     46.68 T
                            Bids of Rs. 20453 Crores

If you study above figures, you will realize the IPO has received strong response from both the categories of the NIIs. Even Retail portion with oversubscription of 13.01Times can be considered as Impressive when 4 mega IPO were competing with each other. The scrip during its first intra-day, is expected to touch Rs. 1140. 

Now let’s check, how the valuation stands.

Among the 3 leading Pen manufactures e.g. Flair, Linc and Kokuyo, Flair has the highest turnover and its shares are offered at a valuation of 24.01 compared to PE multiple of 50.86. Issue price to book value ratio stands at 6.48. Both these parameters show there is strong room for listing Gains. The Grey market at present suggest listing gain of Rs. 135.

Considering all above aspects, we expect the listing price to be in the range of Rs. 400 and during the intraday, the scrip is expected to touch Rs. 440.

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Flair Writing Listing price expected