29,625,223 Equity Shares of Flair Writing Industries Limited are subject to a Lock-Up Agreement Ending on 28-MAY-2024.
May 28, 2024
Share
29,625,223 Equity Shares of Flair Writing Industries Limited are subject to a Lock-Up Agreement Ending on 28-MAY-2024. These Equity Shares will be under lockup for 185 days starting from 25-NOV-2023 to 28-MAY-2024.
Details:
Pursuant to Regulations 14 and 16(1)(a) of the SEBI ICDR Regulations, an aggregate of at least 20% of the fully diluted post-Offer Equity Share capital of our Company held by our Promoters shall be considered as the minimum Promoters? contribution and, in view of the proposed objects of the Fresh Issue, is required to be locked-in for a period of three years from the date of Allotment.
In addition to the Equity Shares proposed to be locked-in as part of the minimum Promoters? contribution and the Promoter?s shareholding in excess of 20%, as stated above, as prescribed under the SEBI ICDR Regulations, the entire pre-Offer Equity Share capital of our Company (including any unsubscribed portion of the Offered Shares) will be locked-in for a period of six months from the date of Allotment of Equity Shares in the Offer including any unsubscribed portion of the Offer for Sale, in accordance with Regulations 16(1)(b) and 17 of the SEBI ICDR Regulations.
Flair Writing Industries Limited is an India-based company. The Company manufactures and distributes writing instruments, including pens, stationery products and calculators and have also diversified into manufacturing houseware products and steel bottles. The Company sells its products under its principal brands, such as Flair, Hauser, Pierre Cardin, ZOOX, FLAIR CREATIVE, and FLAIR HOUSEWARE. It is also a distributor of certain Reynolds and ZIG branded pens in India. It also provides customized corporate gifting products to its corporate customer. Its product range includes pen products, which includes ball pens, fountain pens, gel pens, roller pens, plastic pens and metal pens. Its stationery products include mechanical pencils, highlighters, correction pens, markers, gel crayons and calculators. Its products include Flair Writo-Meter Ball Pen, Sunny Ball Pen, Angular Ball Pen and Ezee-Click Ball Pen. It manufactures pens and other products from 11 manufacturing plants.