Flair Writing Industries' impressive debut marks end of busy listing week

However, newly listed shares come off highs as caution sets in

Investors continued to lap up shares on listing day at huge premiums with Flair Writing Industries gaining as much as 69 per cent above its initial public offering (IPO) price on Friday. The country’s leading pen maker joined Tata Technologies, Indian Renewable Energy Development Agency (Ireda) and Gandhar Oil Refinery (India)—that listed with gains of at least 78 per cent—to mark stellar trading debuts this week.

Shares of Flair Writing closed at Rs 451, up Rs 147, or 48.4 per cent, over its issue price of Rs 304. The stock hit a high of Rs 514 and a low of