Flair Writing, a pen manufacturing company, has announced its IPO for investment. The IPO was fully subscribed within a few hours, with anchor investors buying shares worth INR 177.90 crore. The price band for the stock in the IPO is set at INR 288 to INR 304. The IPO will remain open for investment until November 24, 2023. The Flair Writing IPO received 1.97 times more subscription from retail investors than the reserved quota. Qualified institutional investors subscribed 0.54 times more than their reserved quota, while non-institutional investors subscribed 1.51 times more. The grey market is buzzing with Flair Writing shares trading at a premium price of INR 60. This indicates that the shares could be listed at INR 364. Investors who are allocated shares in the company can potentially earn a profit of more than 19% on the first day of listing.
In summary, Flair Writing has successfully launched its IPO, which was quickly subscribed, with anchor investors contributing a significant amount. The stock price band for the IPO is set between INR 288 and INR 304. Retail investors have shown a high level of interest, with their subscription being nearly double the reserved quota. The grey market is indicating a premium price for Flair Writing shares, suggesting a potential listing at INR 364. Investors who are allocated shares have the opportunity to earn a profit of over 19% on the first day of listing.
- Flair Writing has opened its IPO for investment.
- The IPO was fully subscribed within a few hours, raising INR 177.90 crore through share sales to anchor investors.
- The price band for the company’s IPO is set between INR 288 and INR 304 per share.
- The IPO will remain open for investment until November 24, 2023.
- The IPO of Flair Writing has been oversubscribed by 1.97 times.
- The reserved quota for retail investors has been oversubscribed by 1.97 times.
- The reserved quota for eligible institutional investors has been oversubscribed by 0.54 times.
- The reserved quota for non-institutional investors has been oversubscribed by 1.51 times.
- In the grey market, the shares of Flair Writing are trading at a premium of INR 60.
- This means that the shares of the company could be listed at INR 364.
- Those who are allocated shares of the company can potentially earn a profit of more than 19% on the first day of stock listing.
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