Mumbai based Stationery Company Flair Writing Industries files DRHP with SEBI for the proposed IPO; Key Details here

Flair Writing Industries is into Consumer Stationery and is looking raise funds through Fresh Issue and Offer For Sale

Flair Writing IndustriesIPO: Fresh Issue of Equity shares aggregating up to Rs.365 crores. Offer for Sale of Equity shares aggregating up to Rs.380 crores IPO

Flair Writing Industries IPO: Flair Writing Industries Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 365 crores and an Offer for Sale Equity shares aggregating up to Rs380 crores.. Axis Capital, Nuvama Wealth have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 365 Crs and.

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Objects of the issue:
1) Setting up the New Valsad Unit - Rs95.6cr, 2) Funding capital expenditure (incl subsidiary) - Rs86.7 cr, 3) Funding working capital requirements - Rs77 cr., 4) Repayment/pre-payment of debt - Rs43 cr and 5) General corporate purposes.

Promoters of Flair Writing Industries are Khubilal Jugraj Rathod and Vimalchand Jugraj Rathod and holds 100% stake in the company.

About Company:
Company enjoys market presence of over 45 years in writing and creative instruments industry in India. It manufactures and sells products under brand name of "Flair", “Hauser”, “Pierre Cardin” and recently launched “ZOOX” brands. Company currently holds around 9% market share in writing and creative instruments industry in India as on FY23. Company manufacture and distribute writing instruments including pens, stationery products and calculators and have also diversified into manufacturing houseware products and steel bottles.

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About Industry:
The Indian writing and creative instruments industry is dominated by organised players and is expected to grow at a compound annual growth rateof 7.7%to 8.4% over the Financial Years 2023 to 2028, with the pen segment projected to grow at a compound annual growth rateof 7.5% to 8.5% over the same period. The Indian steel bottle industry is highly fragmented and is expected to grow at a compound annual growth rateof 14% to 16% over the Financial Years 2023 to 2028. As of March 31, 2023, the Indian homeware industry is estimated to be around ₹400 to ₹450 billion with the kitchen appliances segment occupying a share of 40% to 45%. (Source: CRISIL Report)

Source: SEBI, BSE, NSE, DRHP, Flair Writing Industries, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.