Flair Writing Industries is into Consumer-Stationery and is looking raise funds through Fresh Issue and Offer for Sale
Flair Writing Industries IPO is a public offering of shares by Mr. Khubilal Jugraj Rathod,Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod, Mr. Sumit Rathod.. The IPO will open on November 22 and will close on November 24. The price band is ₹288 to ₹304 per share and the lot size is 49 shares. The issue size is ₹593. crore. The shares are expected to be listed on NSE, BSE on December 05 (^). Some additional information that you may find useful are: During the three-month period ended June 30, 2023, company sold 344.32 million units of pens, of which 279.21 million units or 81.09% was sold domestically, and 65.11 million units or 18.91% was exported globally, and in Financial Year 2023, sold 1,303.60 million units of pens, of which 975.30 million units or 74.82% was sold domestically, and 328.30 millionunits or 25.18% was exported globally.: (**) - based on higher price band (^) indicative date
Promoters of the company are Mr. Khubilal Jugraj Rathod,Mr. Vimalchand Jugraj Rathod, Mr. Rajesh Khubilal Rathod, Mr. Mohit Khubilal Rathod, Mr. Sumit Rathod. Currently promoters hold 97.49% stake in the company.
Quick Pointers
- Company aims to raise between Rs 593 to 593 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Setting up the New Valsad Unit - Rs56 cr 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
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 21-Nov-23.
- Price band for the IPO has been fixed at Rs 288 to 304 per share and bid lot are in multiple of 49 shares. The implied market cap post-issue at Rs 3,051 to 3,204 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on November 30 and share are expected to be listed on NSE, BSE on December 05.
- Company has direct competition in the Writing Instrument space with listed peers like Link Limited, Kokuyo Camlin and Cello World amongst others.
- Nuvama Wealth Management has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
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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.
During the three-month period ended June 30, 2023, company sold 344.32 million units of pens, of which 279.21 million units or 81.09% was sold domestically, and 65.11 million units or 18.91% was exported globally, and in Financial Year 2023, sold 1,303.60 million units of pens, of which 975.30 million units or 74.82% was sold domestically, and 328.30 millionunits or 25.18% was exported globally.
About Industry
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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)
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