Flair Writing Industries IPO Details
Issue Date
22 Nov - 24 Nov'23
Price Range
₹288 - ₹304
Lot Size
49
IPO Size
₹593.00 Cr
Flair Writing Industries IPO Listing Details
Listing On
1 Dec'23
Issue Price
₹304
Listed Price
₹ 501
Retail Gain/Listing Gain
▲64.80%
Schedule of Flair Writing Industries IPO
Start date
22/11/2023
End date
24/11/2023
Allotment of bids
Refund Initiation
Listing on exchange
01/12/2023
Flair Writing Industries Limited IPO Review | Issue Details & much more
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Company Background
Flair Writing Industries Limited is among the top three players in the overall writing instruments industry with a revenue of Rs. 9,155.5 million in FY23 and occupies a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023, according to CRISIL.
Their flagship brand, "Flair," has maintained a market presence for more than 45 years. With a diverse range of products spanning different price ranges, they serve a wide array of consumers, including students, professionals, and offices. Their manufacturing and distribution portfolio includes writing instruments such as pens, stationery products, and calculators. Capitalising on their manufacturing expertise and established customer base in the writing and creative instruments sector, they have expanded into the production of houseware products and steel bottles.
The company also stands as one of the top two organised players experiencing accelerated revenue growth compared to the overall expansion rate of the writing and creative instrument industry. In the period spanning FY 2017 to 2023, while the industry demonstrated a compounded annual growth rate of 5.5%, the company’s growth reached approximately 14%. According to CRISIL, they boasted the highest operating and net income margins in FY22, standing at 17.8% and 9.6%, respectively, outshining other notable players in the writing instruments sector.
Competitive Strengths
Among the top three players in the overall writing instruments industry in India
Diversified range of products across various price points catering to a wide spectrum of consumers
Largest pan-India distributor network and wholesale network in the writing instruments industry and strong presence in targeted markets abroad
Risk Factors
- Business success depends on the ability to respond and adapt to consumer needs and maintain an optimal product mix in terms of production volumes and profitability in the writing instruments industry, which is also driven by volume.
- Any inability to successfully implement future expansion plans could have a material adverse effect on the business, operations, prospects or financial results.
- Failure to obtain, maintain or renew the statutory and regulatory licenses, permits and approvals required for the business may have adverse effects on business operations.
Key Strategies
- Focus on growing the existing product portfolio and diversifying the product range.
- Focus on emphasising the Mid-premium Segment and Premium Segment to increase margins.
- Continue to increase production capacity and enhance capacity utilisation.
Key Financials
Here are the key financials for Flair Writing Industries Limited:
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