Flair Writing Industries Limited is engaged in developing and manufacturing writing instruments that are tailored to today’s continuously shifting market. FLAIR is an ISO 9001 : 2015; ISO 14001 : 2015 certified company, adhering to global business & social norms.
The company’s flagship brand “Flair” has enjoyed a market presence of over 45 years. As of March 31, 2023, they offered 699 different products.
The company owns several brands including FLAIR, HAUSER, PIERRE CARDIN, FLAIR CREATIVE, FLAIR HOUSEWARE, and the ZOOX.
As of March 31, 2023, they are among the Top-3 players in the overall writing instruments industry in FY2023 and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India.
Furthermore, the company has recently ventured into manufacturing a diverse range of houseware products such as casseroles, bottles, storage containers, serving solutions, cleaning solutions, baskets, and paper bins. This expansion was made possible through one of our subsidiaries, FWEPL.
In Financial Year 2023, they sold 130.36 crore units of pens, of which 97.53 crore units or 74.82% was sold domestically, and 32.83 crore units or 25.18% was exported globally.
As of March 31, 2023, Flair had the largest distributor/dealer network and wholesale/retailer network, in the writing instruments segment in India, comprising approximately 7,700 distributors/dealers and approximately 315,000 wholesalers/retailers, as of March 31, 2023.
The company also contract manufacture writing instruments as an OEM for export and for sale in India, which contributed 19.94%, 33.37% and 38.67% to their revenue from operations in the FY 2023, 2022 and 2021, respectively.
Flair Writing IPO – Details
| IPO Opening Date | 22 November 2023 |
| IPO Closing Date | 24 November 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,95,06,579 Shares Worth ₹593.00 Crore Fresh Issue: 96,05,263 Shares Worth ₹292.00 Crore Offer For Sale: 99,01,316 Shares Worth ₹301.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹288 – ₹304 |
| Market Lot | 49 Shares |
| Min Order | 49 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Flair Writing IPO – Date Schedule
| IPO Open Date | 22 November 2023 |
| IPO Close Date | 24 November 2023 |
| Basis of Allotment Date | 30 November 2023 |
| Initiation of Refund | 01 December 2023 |
| Credit of Shares to Demat Account | 04 December 2023 |
| IPO Listing Date | 05 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 24 November 2023 |
Flair Writing IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | 14,896 |
| Retail (Max) | 13 | 637 | 1,93,648 |
| S-HNI (Min) | 14 | 686 | 2,08,544 |
| S-HNI (Max) | 66 | 3,283 | 9,98,032 |
| B-HNI (Min) | 67 | 3,332 | 10,12,928 |
Competitive Strengths
- Largest player in the pens writing instruments segment in India;
- Diversified range of products across various price points;
- Largest pan-India distributor/dealer network and wholesale/retailer network;
- Ability to partner with international brands in the writing instruments industry and one of the largest exporter of writing and creative instruments in India;
- High quality manufacturing at a large scale coupled with innovation capabilities.
- Historical track-record of strong financial performance with industry-leading profitability.
Company Promoters
- Mr. Khubilal Jugraj Rathod
- Mr. Vimalchand Jugraj Rathod
- Mr. Rajesh Khubilal Rathod
- Mr. Mohit Khubilal Rathod
- Mr. Sumit Rathod
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 310.87 | 308.73 | 0.99 | 130.31 |
| 31 March 2022 | 587.64 | 514.19 | 55.15 | 126.33 |
| 31 March 2023 | 954.29 | 795.49 | 118.10 | 115.59 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 24.01 |
| Market Cap (₹ Cr.) | 3204 |
| ROE | 31.17% |
| ROCE | 31.24% |
| Debt/Equity | 0.26 |
| EPS (Rs) | 12.66 |
| RoNW | 31.17% |
Object Of The Issue
- Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat (“New Valsad Unit”);
- Funding capital expenditure of the Company and our Subsidiary, FWEPL;
- Funding working capital requirements of the Company and the Subsidiaries, FWEPL and FCIPL;
- Repayment/pre-payment, in part or full, of certain borrowings availed by the Company and the Subsidiaries, FWEPL and FCIPL;
- General corporate purposes.
Flair Writing IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Linc Limited | 33.50 |
| 2 | 1 | Kokuyo Camlin Limited | 56.82 |
| 3 | 5 | Cello World Limited | 63.00 |
Flair Writing IPO Promoter Holding
| Pre Issue Share Holding | 97.49% |
| Post Issue Share Holding | 79.21% |
Flair Writing IPO Prospectus
Company Contact Information
| Flair Writing Industries Limited 63 B/C, Government Industrial Estate Charkop, Kandivali West Mumbai 400 067 Phone: +91 22 4203 0405 Email: investors@flairpens.com Website: https://flairworld.in/ |
Flair Writing IPO Registrar
| Link Intime India Private Ltd Phone: +91 810 811 4949 Email: flairwriting.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
Flair Writing IPO Lead Manager(s)
| 1. Nuvama Wealth Management Limited 2. Axis Capital Limited |
Flair Writing IPO FAQs
| What is Flair Writing IPO? Flair Writing IPO is a main-board IPO. The issue is priced at ₹288 to ₹304 per equity share. The IPO is to be listed on BSE & NSE. |
| When Flair Writing IPO will open? The IPO is to open on 22 November 2023 for QIB, NII, and Retail Investors. |
| What is Flair Writing IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Flair Writing IPO? You can apply Flair Writing IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Flair Writing IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Flair Writing”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Flair Writing IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Flair Writing”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Flair Writing IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Flair Writing”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Flair Writing IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Flair Writing”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Flair Writing IPO Size? Flair Writing IPO size is ₹593.00 Crore. |
| What is Flair Writing IPO Price Band? Flair Writing IPO Price Band is ₹288 to ₹304. |
| What is Flair Writing IPO Minimum and Maximum Lot Size? The minimum bid is 49 Shares with ₹14,896 amount while the maximum bid is 637 Shares with ₹1,93,648. |
| What is the Flair Writing IPO Allotment Date? Flair Writing IPO allotment date is 30 November 2023. |
| What is the Flair Writing IPO Listing Date? Flair Writing IPO listing date is 05 December 2023. The IPO is to list on BSE and NSE. |
