Flair Writing stock has fallen 20 percent so far since listing on December 1, 2023. In comparison, benchmark Nifty 50 has gained 5 percent during this period.
Flair Writing shares listing in Top News on December 1: TCS’ Rs 17,000-crore share buyback, GNFC’s buyback offer, stock market, Bank Nifty outlook, visa free entry for Indians to Malaysia in focus.
The IPO of Flair Writing received a strong response from investors with nearly 46.6 times subscription at close. Flair Writing is among the top three players in the overall writing instruments industry and occupies a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 2023. Its flagship brand “Flair” has enjoyed a market presence of over 45 years.
Flair Writing Industries shares opened with 64.8 percent gains at Rs 501 on the National Stock Exchange, which was double the analysts’ expectations as well as grey market premium
Last heard, shares of Flair Writing Industries were commanding a premium of Rs 150-155 per share in the grey market, suggesting a listing pop of more than 50 per cent for the investors.