Flair Writing IPO Day 1: Issue subscribed 2.14 times, retail portion booked 2.78 times

Flair Writing Industries’ Rs 593 crore IPO was subscribed 2.14 times on November 22, the first day of bidding, receiving bids for 3.04 crore shares against the issue size of 1.44 crore shares. Retail investors bought 2.78 times, non-institutional investors picked 2.69 times and qualified institutional buyers bought 0.53 times the allotted quota.

The company mobilised Rs 177.9 crore from investors through its anchor book on November 21. Marquee names like Theleme India Master Fund, Natixis International Funds, Troo Capital, Winro Commerical, SBI Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Tata Mutual Fund, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance Company, and Carnelian Structure Shift Fund invested in the company via anchor book.

Also Read: Flair Writing Industries IPO | Anchor investors buy shares worth Rs 178 crore ahead of issue opening

The IPO consists of a fresh issue of 96.05 lakh shares worth Rs 292 crore and an offer-for-sale of 99.01 lakh shares worth Rs 301 crore.  The price band for the issue, which will close on November 24, has been fixed at Rs 288-304 per share. The promoters of the company are Khubilal Jugraj Rathod, Vimalchand Jugraj Rathod, Rajesh Khubilal Rathod, Mohit Khubilal Rathod and Sumit Rathod.