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Flair IPO To Open on November 22, Price Band Set at ₹288-304

Flair Writing Industries Limited is set to launch its initial public offering (IPO) for subscription, with the price band fixed at ₹288 to ₹304 per equity share with a face value of ₹5. The subscription window for the Flair Writing IPO is scheduled to open on November 22 and close on November 24, while the allocation to anchor investors is set for November 21.

The floor price represents 57.60 times the face value of the equity shares, while the cap price is set at 60.80 times the face value. The price-to-earnings ratio, based on diluted EPS for the financial year 2023, ranges from 22.75 times at the lower end of the price band to 24.01 times at the higher end. The lot size for the Flair IPO is 49 equity shares, with subsequent multiples in increments of 49 equity shares.

The tentative schedule for the Flair Writing IPO includes the finalization of the basis of allotment on November 30 and the initiation of refunds on December 1. Allottees can expect the shares to be credited to their demat accounts on December 4. The anticipated listing date for Flair Writing IPO shares on BSE and NSE is December 5. In the event that the company opts for the T+3 norm, the dates will be adjusted accordingly.

The IPO has allocated not more than 50% of the shares for Qualified Institutional Buyers (QIB), a minimum of 15% for Non-Institutional Investors (NII), and a minimum of 35% for Retail Investors. Investors are eagerly awaiting the subscription window to participate in Flair Writing Industries Limited’s IPO, which is expected to make a mark in the market.

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