Bumper debut- Flair Writing shares list over 65% premium on bourses; Should you hold or book profit-
Bumper debut: Flair Writing shares list over 65% premium on bourses; Should you hold or book profit? Flair Writing shares listed at 65.46% premium over IPO price on bourses. The share debuted at Rs 503 on the BSE and Rs 501 on the NSE, surpassing the issue price of Rs 304. The investors have made a profit of nearly Rs 199 per share as the scrip gave more than 65% return to investors on the listing. “Flair Writing Industries (Flair Writing) made a strong debut on the stock markets, listing at Rs 503 per share, a premium of 65.4% over its IPO price of Rs 304. The listing was even above expectations, given the strong fundamentals of the company and the positive investor sentiment surrounding the IPO. Flair Writing is a leading manufacturer of writing instruments in India with a well-diversified product portfolio and a strong brand reputation. The company has a proven track record of growth and profitability. The IPO was oversubscribed 49.28 times, indicating strong investor interest. Overall, Flair Writing Industries. is a fundamentally sound company with a strong growth outlook,” said Shivani Nyati, Head of Wealth, Swastika Investmart. The IPO comprises a fresh issue of 9,605,263 shares aggregating up to Rs 292 crore and an Offer-For-Sale (OFS) with promoters offloading 9,901,315 shares aggregating up to Rs 301 crore. For potential investors, the bidding started at a minimum of 49 equity shares, with subsequent bids in multiple lots of 49 equity shares each, with a maximum of 13 lots. The price band for its public issue at Rs 288-304 per equity share of face value Rs 5 each.
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