Flair Writing IPO share allotment expected today. Here's how you can check status

The share allotment of Flair Writing IPO is expected to be finalised today. Investors will receive shares on a lottery basis and the whole process is supervised by the registrar.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.

Step 1: Visit the BSE Website

Step 2: Please select the issue name, that is the company's name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status.

The company's shares are expected to get listed on the exchanges on November 30. According to market sources, Flair Writing is commanding a premium of Rs 85 in the unlisted market.

Considering the upper price band of Rs 304, the stock is likely to debut at a premium of 28%.

The IPO of Flair Writing received a strong response from investors with nearly 46.6 times subscription at close.

Flair Writing is among the top three players in the overall writing instruments industry and occupies a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 2023. Its flagship brand “Flair” has enjoyed a market presence of over 45 years.

The company makes and distributes writing instruments including pens, stationery products and calculators and has also diversified into manufacturing houseware products and steel bottles.

Net proceeds of the fresh issue will be used towards setting up a new manufacturing facility for writing instruments in the Valsad district, funding capital expenditure, working capital requirements and other general corporate purposes.

Nuvama Wealth Management (formerly known as Edelweiss Securities Limited) and Axis Capital were the book-running lead managers to the issue.

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