India's Flair Writing closes 48% higher on market debut

Tata Technologies

01/12/2023 10:32

** Shares of Flair Writing Industries  FLAI.NS  close up
48.3% at 450.90 rupees on the listing day
    ** Shares were listed at 501 rupees, a premium of 64% vs
issue price of 304 rupees 
    ** Flair's 5.93 billion rupees IPO was oversubscribed by 47
times
    ** Given positive secondary market environment and ample
liquidity, Flair Writing had a solid listing - Rajan Shinde,
Research Analyst, Mehta Equities
    ** Out of 5 listings on Mumbai's Dalal Steet this week, Tata
Technologies  TATE.NS  listed at a premium of 140%, while
Gandhar Oil Refinery (India)  GADH.NS  surged 76% on its debut;
Indian Renewable Energy Development Agency  INAR.NS  got listed
at 56.3% premium, while Fedbank Financial Services  FEDB.NS 
listed at 1.4% discount
    ** India has seen a record 201 IPOs so far this year, while
main indexes have scaled record highs on improving economic
growth prospects

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))