Flair Writing Industries Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹304
Per ShareLot Size
49 Shares
Minimum Investment
₹14,896
Issue Size
₹593 Cr
Face Value
₹5
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Flair Writing Industries Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
62.69%
Promoter Holding (Post-Issue)
51.1%
Issue Type
Book Building
ISIN
INE00Y201027
About the Company
Flair Writing Industries Limited is also among the top three players in the overall writing instruments industry and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023. Its flagship brand "Flair" has enjoyed a market presence of over 45 years. The Company manufactures and distributes writing instruments including pens, stationery products and calculators and has also diversified into manufacturing houseware products and steel bottles.
Industry Overview
The Indian writing and creative instruments industry is dominated by organised players and is expected to grow at a CAGR of 7.7% to 8.4% over the Financial Years 2023 to 2028, with the pen segment projected to grow at a CAGR of 7.5% to 8.5% over the same period. The Indian steel bottle industry is highly fragmented and is expected to grow at a CAGR of 14% to 16% over the Financial Years 2023 to 2028. As of March 31, 2023, the Indian homeware industry is estimated to be around Rs.400 to Rs.450 billion with the kitchen appliances segment occupying a share of 40% to 45%.
Company History
Flair Writing Industries Limited was originally formed and registered as a partnership firm under the Indian Partnership Act, 1932 under the name of `M/s Flair Writing Instruments' with firm registration number BA-12035, pursuant to a deed of partnership dated January 6, 1986, as amended and supplemented from time to time. Pursuant to the conversion of M/s Flair Writing Instruments under the provisions of Chapter XXI of the Companies Act, 2013, the Company was incorporated as a private limited company on August 12, 2016 at Mumbai, Maharashtra, India as `Flair Writing Industries Private Limited'. The Company was then converted into a public limited company and the name of the Company was changed to `Flair Writing Industries Limited'. A fresh certificate of incorporation dated May 30, 2018 was issued by the Registrar of Companies, Maharashtra at Mumbai.
Products & Services
- Flair Writing Industries Limited is also among the top three players in the overall writing instruments industry and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023
Growth Strategy
- Focus on growing its existing product portfolio and diversification of its product range.
- Emphasis on Mid-premium Segment and Premium Segment to increase margins.
- Continue to increase production capacity and enhance capacity utilization.
- Strengthening presence in key geographies along with strategically expanding exports.
- Deepen its sales and distribution network.
- Further strengthen its brands.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 19,506,578^ equity shares of face value of Rs. 5 each ("Equity Shares") of Flair Writing Industries Limited (the "Company" or the "Issuer") for cash at a price of Rs. 304.00 per equity share (including a premium of Rs. 299.00 per equity share) (the "Offer Price") aggregating to Rs. 593.00^ crores (the "Offer"), comprising a fresh issue of 9,605,263^ equity shares of face value of Rs. 5 each by the company aggregating to Rs. 292.00^ crores (the "Fresh Issue") and an offer for sale of 9,901,315^ equity shares of face value of Rs. 5 each aggregating to Rs. 301.00^ crores (the "Offer for Sale"), comprising 1,690,789^ equity shares of face value of Rs. 5 each aggregating to Rs. 51.40^ crores by Khubilal Jugraj Rathod, 1,304,276^ equity shares of face value of Rs. 5 each aggregating to Rs.39.65^ crores by Vimalchand Jugraj Rathod, 1,062,500^ equity shares of face value of Rs. 5 each aggregating to Rs. 32.30^ crores by Rajesh Khubilal Rathod, 1,062,500^ equity shares of face value of Rs. 5 each aggregating to Rs. 32.30^ crores by Mohit Khubilal Rathod, 1,062,500^ equity shares of face value of Rs. 5 each aggregating to Rs. 32.30^ crores by Sumit Rathod (together referred to as the "Promoter Selling Shareholders"), 1,062,500^ equity shares of face value of Rs. 5 each aggregating to Rs. 32.30^ crores by Nirmala Khubilal Rathod, 1,062,500^ equity shares of face value of Rs. 5 each aggregating to Rs. 32.30^ crores by Manjula Vimalchand Rathod, 531,250^ equity shares of face value of Rs. 5 each aggregating to Rs. 16.15^ crores by Sangita Rajesh Rathod, 531,250^ equity shares of face value of Rs. 5 each aggregating to Rs. 16.15^ crores by Shalini Mohit Rathod and 531,250^ equity shares of face value of Rs. 5 each aggregating to Rs. 16.15^ crores by Sonal Sumit Rathod (collectively referred to as the "Promoter Group Selling Shareholders" and together with the promoter selling shareholders referred to as the "Selling Shareholders", and such equity shares offered by the selling shareholders, the "Offered Shares"). The company, in consultation with the book running lead managers, has undertaken a pre-ipo placement of 2,401,315 equity shares at an issue price of Rs. 304.00 per equity share (including a premium of Rs. 299.00 per equity share) for a cash consideration aggregating to Rs. 73.00 crores on November 10, 2023. the size of the fresh issue has been reduced by Rs. 73.00 crores and accordingly, the size of the fresh issue is aggregating to Rs. 292.00 crores. The relevant investor that has subscribed to the equity shares of the company pursuant to the pre-ipo placement has been informed that there is no guarantee that the offer may come through or the listing may happen and accordingly, the investment was done by the relevant investor solely at its own risk. The offer price is Rs. 304.00 per equity share and the offer price is 60.80 times the face value of the equity shares. ^Subject to finalisation of the basis of allotment
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Largest player in the pens writing instruments segment in India.
- Diversified range of products across various price points catering to a wide spectrum of consumers.
- Largest pan-India distributor/dealer network and wholesale/retailer network in the writing instruments industry and strong presence in targeted markets abroad
- Ability to partner with international brands in the writing instruments industry and one of the largest exporter of writing and creativ instruments in India.
- High quality manufacturing at a large scale coupled with innovation capabilities.
- The company's success depends on its ability to respond and adapt to consumer needs and maintain an optimal product mix in terms of production volumes and profitability in the writing instruments industry. Any inability to successfully implement the company business plan and growth strategy or effectively manage its growth could lead to a decline in the demand of our products and have a material adverse effect on the company business, operations, prospects or financial results.
- The company derives a significant portion of the revenue from the sale of the products under the "Flair", "Hauser" and "Pierre Cardin" brands, and any harm to such brands or reputation may adversely affect its business, financial condition, cash flows and results of operations.
- The company is dependent on its distribution network in India and overseas to sell of the products and any disruption in the distribution network could have a material adverse effect on the company business, operations, prospects or financial results.
- Any deterioration in the reputation and the consumer awareness of the company brands and products could have a material adverse effect on its business, operations, prospects or financial results.
- The company's business and operations had been adversely impacted by the COVID-19 pandemic and the future impact on its business, operations and financial performance is uncertain and could continue for an unknown period of time.