Flair Writing Industries has filed its Draft Red Herring Prospectus with SEBI to ₹745 crore, including an offer for sale by the promoters. The company will issue fresh equity shares of ₹365 crore and offer for sale aggregating to ₹380 crore. The company is among the top three players in the overall writing instruments industry with a revenue of ₹916 crore in FY’23. The offer for sale of equity shares comprises equity shares aggregating up to ₹76 crore by Khubilal Jugraj Rathod; ₹ 57 crore by Vimalchand Jugraj Rathod; and ₹38 crore each by Nirmala Khubilal Rathod, Manjula Vimalchand Rathod, Rajesh Khubilal Rathod, Mohit Khubilal Rathod and Sumit Rathod; and ₹19 crore each by Sangita Rajesh Rathod, Shalini Mohit Rathod and Sonal Sumit Rathod. The company has reported the highest operating and net income margins of 17.8 per cent and 9.6 per cent in FY’22.

Source: The Hindu July 16, 2023 12:51 UTC