Flair Writing Industries Ltd IPO

Flair Writing Industries Limited was originally formed and registered as a partnership firm under the Indian Partnership Act, 1932 under the name of `M/s Flair Writing Instruments' with firm registration number BA-12035, pursuant to a deed of partnership dated January 6, 1986, as amended and supplemented from time to time. Pursuant to the conversion of M/s Flair Writing Instruments under the provisions of Chapter XXI of the Companies Act, 2013, the Company was incorporated as a private limited company on August 12, 2016 at Mumbai, Maharashtra, India as `Flair Writing Industries Private Limited'. The Company was then converted into a public limited company and the name of the Company was changed to `Flair Writing Industries Limited'. A fresh certificate of incorporation dated May 30, 2018 was issued by the Registrar of Companies, Maharashtra at Mumbai.

The Indian writing and creative instruments industry is dominated by organised players and is expected to grow at a CAGR of 7.7% to 8.4% over the Financial Years 2023 to 2028, with the pen segment projected to grow at a CAGR of 7.5% to 8.5% over the same period. The Indian steel bottle industry is highly fragmented and is expected to grow at a CAGR of 14% to 16% over the Financial Years 2023 to 2028. As of March 31, 2023, the Indian homeware industry is estimated to be around Rs.400 to Rs.450 billion with the kitchen appliances segment occupying a share of 40% to 45%.

Flair Writing Industries Limited is also among the top three players in the overall writing instruments industry and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023. Its flagship brand Flair has enjoyed a market presence of over 45 years. The Company manufactures and distributes writing instruments including pens, stationery products and calculators and has also diversified into manufacturing houseware products and steel bottles.