Flair Writing Industries Reports Full Utilization of IPO Proceeds, New Valsad Unit Nears Completion

1 min read Updated on 07 Nov 2025, 03:15 AM

Reviewed by

Shraddha JScanX News Team

Overview

Flair Writing Industries has utilized 90% (INR 245.71 crore) of its IPO proceeds as of September 30, 2025. Funds were used for setting up a new Valsad unit, capital expenditure, working capital, debt repayment, and general corporate purposes. The remaining INR 27.32 crore is in fixed deposits. ICRA Limited confirmed no deviation from stated objectives. The new Valsad unit setup is progressing as planned, while capital expenditure for the company and its subsidiary was completed in Q2 FY2026.

*this image is generated using AI for illustrative purposes only.

Flair Writing Industries Limited , a leading player in the writing instruments industry, has reported significant progress in utilizing its Initial Public Offer (IPO) proceeds for the quarter ended September 30, 2025. The company's monitoring agency report, issued by ICRA Limited, confirms that there has been no deviation from the stated objectives of the issue.

IPO Proceeds Utilization

Flair Writing Industries raised net proceeds of INR 273.04 crore from its November 2023 IPO. As of September 30, 2025, the company has utilized INR 245.71 crore, representing about 90% of the total proceeds. The funds have been deployed across various objectives as follows:

Objective	Amount Utilized (INR Crore)	Status
Setting up new Valsad unit	28.67	In progress
Funding capital expenditure	86.75	Completed
Working capital requirements	77.00	Fully utilized
Debt repayment	43.00	Fully utilized
General corporate purposes	10.30	Fully utilized

Ongoing Projects and Investments

The new Valsad unit setup remains in progress and is on track with the original timeline of FY25-FY26. This expansion is expected to increase the company's production capabilities and support its growth aspirations.

The capital expenditure for the company and its subsidiary was completed in Q2 FY2026, indicating that Flair Writing Industries is actively investing in its infrastructure and capabilities.

Unutilized Funds

The remaining INR 27.32 crore of the IPO proceeds has been temporarily deployed in fixed deposits with Axis Bank, earning returns between 4.00% to 7.40%.

Compliance and Transparency

ICRA Limited, the appointed monitoring agency, has confirmed that there has been no deviation from the stated objects of the issue. This adherence to the planned utilization demonstrates Flair Writing Industries' commitment to transparency and responsible financial management.

The company's proactive disclosure of the IPO proceeds utilization aligns with regulatory requirements and provides investors with clear insights into how their funds are being deployed to drive growth and enhance operational capabilities.

As Flair Writing Industries continues to execute its expansion plans, particularly with the ongoing development of the new Valsad unit, investors can expect further updates on the company's progress in the coming quarters.

Historical Stock Returns for Flair Writing Industries