The initial share sale offering of pen maker Flair Writing Industries was fully subscribed on the first day of bidding on Wednesday, ending the trade with 2.17 times subscription.
The Initial Public Offer (IPO) received bids for 3,13,20,310 shares against 1,44,13,188 shares on offer, according to data available with the NSE.
The part for Retail Individual Investors (RIIs) attracted 2.86 times subscription while the quota for non-institutional investors got subscribed 2.78 times. The category for Qualified Institutional Buyers (QIBs) received 53 per cent subscription.
Flair Writing’s IPO has a fresh issue of equity shares aggregating up to Rs 292 crore and an Offer for Sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities.
At present, promoters and promoter group entities own 100 per cent stake in the company.
The issue has a price band of Rs 288-304 a share.
Flair Writing Industries Ltd on Tuesday said it has mopped up Rs 178 crore from anc
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