Flair Writing IPO Allotment Shares, GMP Today; How To Check Status Online?

Mumbai-based Flair Writing Industries' public issue ended with a massive 46.68 times subscription. As the company gears up for the next steps, investors are anticipating the basis of allotment, tentatively set for November 28 (the date is subject to change).

The response to the Rs 593 crore public issue, which started November 22 and ended November 24, was spread across investor categories. Qualified institutional buyers exhibited aggression, subscribing 115.6 times their allotted portion. High net-worth individuals followed suit, securing 33.37 times their quota, while retail investors showed substantial interest with a 13.01 times oversubscription.

Flair Writing Industries is anticipated to credit shares to successful demat accounts by November 29 or 30, with a potential listing of its equity shares on the bourses by December 1. These dates, however, remain tentative and subject to change.

Market analysts have noted that Flair Writing Industries IPO shares staged a premium of over 25% in the grey market, an unofficial platform for IPO share trading until the official listing.

The investors can verify their share allotment status in two ways:

They can either check the BSE website or the portal of IPO registrar Link Intime India using a three-step process by selecting the equity issue type and then selecting 'Flair Writing Industries Limited' as the issue name. Then, they can enter either their application number or PAN number, check the "I am not a robot" box, and click on the search button.

The other option is through the IPO registrar's portal by selecting 'Flair Writing Industries Limited - IPO' from the dropdown, entering either the PAN number, application number, or DP Client ID, and lastly clicking on the search button.

The initial public offering by the stationery products manufacturing company comprised a fresh issuance of shares worth Rs 292 crore and an offer-for-sale of shares worth Rs 301 crore by the Rathod family. The net fresh issue proceeds are marked for various purposes, including the establishment of a new manufacturing facility for writing instruments in Valsad, capital expenditure, working capital requirements, debt repayment, and general corporate purposes.