Flair Writing IPO to open on November 22

Pen maker Flair Writing Industries Ltd has announced a price range of Rs 288–304 per share for its Rs 593 crore IPO, scheduled to open for subscription from November 22 to November 24.

Source: Flair Writing

The IPO consists of a fresh issue of equity shares worth Rs 292 crore and an offer-for-sale (OFS) of equity shares valued at Rs 301 crore by promoters and promoter group entities.

Source: Flair Writing

The proceeds from the fresh issue will be allocated to establish a manufacturing facility for writing instruments in Valsad district, Gujarat.

Source: Amazon

The IPO reserves 50 per cent for qualified institutional buyers, 35 per cent for retail investors, and 15 per cent for non-institutional investors. Bidding starts at a minimum of 49 equity shares.

Source: Flair Writing