Bookbuilding IPO | ₹37 Cr | Listed at NSE SME | Mon, Aug 19, 2024 - Wed, Aug 21, 2024
Forcas Studio IPO is a book build issue of ₹37.44 crores. The issue is entirely a fresh issue of 0.47 crore shares of ₹37.44 crore.
Forcas Studio IPO bidding started from Aug 19, 2024 and ended on Aug 21, 2024. The allotment for Forcas Studio IPO was finalized on Aug 22, 2024. The shares got listed on NSE SME on Aug 26, 2024.
Forcas Studio IPO price band is set at ₹80 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,28,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,56,000.
Horizon Management Pvt.Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Forcas Studio IPO RHP for detailed Information.
IPO Open
Mon, Aug 19, 2024
IPO Close
Wed, Aug 21, 2024
Issue Price
₹80 per share
Market Cap (Pre-IPO)
₹140.64 Cr
| IPO Date | 19 to 21 Aug, 2024 |
| Listed on | Mon, Aug 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹77 to ₹80 |
| Issue Price | ₹80 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 46,80,000 shares (agg. up to ₹37 Cr) |
| Reserved for Market Maker | 2,35,200 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 44,44,800 shares (agg. up to ₹36 Cr) |
| Net Offered to Public | 44,44,800 shares (agg. up to ₹36 Cr) |
| Share Holding Pre Issue | 1,29,00,000 shares |
| Share Holding Post Issue | 1,75,80,000 shares |
| NSE Symbol | FORCAS |
| ISIN | INE0U2501017 |
Forcas Studio IPO comprises a total issue size of 46,80,000 shares. The net offer to the public is 44,44,800 shares, after excluding 2,35,200 shares allotted on a firm basis. Of the Net offer 22,20,800 (49.96%) are allocated to QIB, 6,67,200 (15.01%) allocated to NII 15,56,800 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 22,20,800 | 49.96% | 47.45% |
| − Anchor Investor Shares Offered | 13,31,200 | 28.44% | |
| − QIB (Ex. Anchor) Shares Offered | 8,89,600 | 19.01% | |
| NII (HNI) Shares Offered | 6,67,200 | 15.01% | 14.26% |
| Retail Shares Offered | 15,56,800 | 35.03% | 33.26% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,35,200 | 5.03% | |
| Total Shares Offered | 46,80,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,28,000 |
| Retail (Max) | 1 | 1,600 | ₹1,28,000 |
| HNI (Min) | 2 | 3,200 | ₹2,56,000 |
Forcas Studio IPO raises ₹10.65 crore from anchor investors. Forcas Studio IPO Anchor bid date is August 16, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 16, 2024 |
| Shares Offered | 13,31,200 |
| Anchor Portion (₹ Cr.) | 10.65 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 20, 2024 |
Incorporated in April 2010, Forcas Studio Limited sells men's clothing, including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers. The company provides these products online and in bulk to customers all over India. It also offers white-labelling services for other brands, such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail, and more.
The company offers a wide range of products, including shirts, denims, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers for the Indian menswear segment.
The company sells its products through online platform under the brand name of ‘FTX’, ‘Tribe’ and ‘Conteno.
The company has established a presence on all major online platforms, including Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Glowroad, Limeroad, Solvd, and Shopsy. Additionally, the company has also sold products through various large-format stores, including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail, and Sarvana Retail.
The company has served more than 15000 pin codes in India.
The company has a strong offline presence, with a presence on major online marketplaces and in over 500 large-format stores. They offer a wide range of products with a catalogue of over 1200 SKUs.
The company has four warehouses in Kolkata for the purpose of supply chain management.
As of February 29, 2024, the company has 68 employees, including its directors. They are responsible for business operations, factory management, administration, secretarial work, marketing, and accounting functions as per their designated goals.
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 123.79 | 39.24 | 43.33 | 48.91 |
| Total Income | 96.49 | 71.62 | 53.80 | 51.13 |
| Profit After Tax | 5.53 | 1.15 | 0.78 | 0.56 |
| NET Worth | 19.02 | 8.60 | 8.31 | 7.12 |
| Reserves and Surplus | 6.12 | |||
| Total Borrowing | 28.61 | 23.25 | 24.20 | 24.38 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of upgradation of warehouse | 1.66 |
| 2 | Prepayment or repayment of certain secured loans availed by the Company | 13.00 |
| 3 | Funding of working capital requirements of the Company; | 12.00 |
| 4 | General Corporate Purposes | 8.43 |
| KPI | Feb 29, 2024 |
|---|---|
| ROE | 27.06% |
| ROCE | 18.54% |
| Debt/Equity | 1.50 |
| RoNW | 27.06% |
| PAT Margin | 5.36% |
| Price to Book Value | 5.43 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.89 | 3.43 |
| P/E (x) | 90.09 | 23.3 |
| Promoter Holding | 82.17% | 60.3% |
| Market Cap | ₹140.64 Cr. |
The Forcas Studio IPO is subscribed 416.99 times on August 21, 2024 6:19:59 PM (Day 3). The public issue subscribed 415.82 times in the retail category, 205.39 times in the QIB category, and 701.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 205.39 | 8,89,600 | 18,27,16,800 |
| NII* | 701.85 | 6,67,200 | 46,82,72,000 |
| Retail | 415.82 | 15,56,800 | 64,73,44,000 |
| Total | 416.99 | 31,13,600 | 1,29,83,32,800 |
Total Application : 4,04,590
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 0.61 |
| 2 | Marketing and Selling Commission and expenses | 1.49 |
| 3 | Advertising and marketing expenses | 0.08 |
| 4 | Printing and distribution of issue stationery | 0.01 |
| 5 | Listing fees | 0.01 |
| 6 | NSE processing fees | 0.00 |
| 7 | Book Building software fees | 0.04 |
| 8 | Other regulatory expenses | 0.11 |
| 9 | Miscellaneous | 0.01 |
| Price Details | NSE |
|---|---|
| Final Issue Price | ₹80.00 |
| Open | ₹152.00 |
| Low | ₹144.40 |
| High | ₹159.60 |
| Last Trade | ₹144.40 |
Lead Manager Reports
Forcas Studio IPO is a SME IPO of 46,80,000 equity shares of the face value of ₹10 aggregating up to ₹37 Crores. The issue is priced at ₹80 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Aug 19, 2024, and closes on Wed, Aug 21, 2024.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Forcas Studio IPO using UPI as a payment gateway. Zerodha customers can apply in Forcas Studio IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Forcas Studio IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Forcas Studio IPO opens on Mon, Aug 19, 2024 and closes on Wed, Aug 21, 2024.
Forcas Studio IPO lot size is 1600, and the minimum amount required for application is ₹1,28,000.
You can apply in Forcas Studio IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Forcas Studio IPO will be done on Thursday, August 22, 2024, and the allotted shares will be credited to your demat account by Fri, Aug 23, 2024. Check the Forcas Studio IPO allotment status.
The Forcas Studio IPO listing date is on Mon, Aug 26, 2024.
