Flair Writing IPO allotment status: Check application, latest GMP and listing date

Flair Writing Industries (Flair) is set to finalise the basis of allotment of its equity shares by Tuesday, November 28 or may be Monday, November 27. Bidders, who will receive the allotment of equity shares, will begin getting alerts, mails and messages for amount debit or revocation of the mandate by Wednesday, November 29.

Flair Writing Industries sold its IPO in the range of Rs 288-304 apiece with a lot size of 49 shares, which was open for bidding between November 22 and November 24. The stationary products player a total of Rs 593 crore via primary route, which include a fresh share sale of Rs 292 crore and an offer-for-sale (OFS) of up to 9,901,315 equity shares.

The issue was overall subscribed a strong 49.28 times during the bidding process. The portion for qualified institutional bidders was subscribed a whopping 122.02 times, while the portion reserved for non-institutional investors saw 35.23 times bidding. The allocation reserved for retail investors was booked 13.73 times during the three-day bidding process.

Grey market premium (GMP) of Flair Writing has jumped after a strong buying interest from all categories of investors. Last heard, Flair Writing was commanding a premium of Rs 82-85 apiece in the unofficial market, suggesting a listing pop of about 27-28 per cent for the investors. However, it was around Rs 70-72 per share, during the bidding period.

Nuvama Wealth Management and Axis Limited are the lead managers of the Flair Writing IPO, while Link Intime India is the registrar for the issue. Shares of Flair Writing will be listed on both BSE and NSE on Friday, November 30 following the T+3 listing rule of SEBI, which will be mandatory from December 1, 2023.

Flair Writing, Incorporated in 1976, is engaged in developing and manufacturing writing instruments that are tailored to the continuously shifting market. It has established business relationships with some of the leading pioneers in the writing industry, adhering to global business and social norms.

Majority of the brokerage firms tracking the issue were mostly positive on the issue and are suggesting to subscribe to it. They are sworn upon the company's strong financials, big market share in India and globally, growth prospects and years of experience in the business.

Investors, who bid for the issue of Flair Writing Industries, can check the allotment status on the BSE website's IPO application check page. Check-in equity, under the issue type and select Flair Writing Industries Limited in the dropbox; type-in the application number and add the PAN card number before checking-in at 'I am not a Robot' before hitting the submit button.
 

Allotment status can also be checked through the online portal of Link Intime India, the registrar to the issue. Visit the web portal of Link Intime and select the IPO of Flair Writing in the dropbox. Enter the either PAN Card number, Application Number or DP Client ID as selected tab and hit 'search' to get the allotment status for your application.

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