Forcas Studio Listing: Stock makes stellar market debut, lists with 90 per cent premium at ₹152

Forcas Studio made a stellar market debut today. Its shares were listed at ₹152 each on NSE SME, indicating a 90 per cent premium over the issue price's upper band of ₹80. The SME IPO, valued at ₹37.44 crore, was open for subscription from August 19 to August 21, 2024, with a price range between ₹77 and ₹80.

The offering was entirely a fresh issue, comprising 46.8 lakh newly issued shares, with no offer-for-sale component. The IPO attracted substantial interest, achieving an overall subscription rate of 416.99 times.

Non-institutional investors were particularly active, subscribing 701.85 times, while retail investors also demonstrated strong interest, with a subscription rate of 415 times, according to Chittorgarh.

The company plans to utilize the net proceeds from the issue to achieve several objectives: upgrading its warehouse, prepaying or repaying certain secured loans, funding working capital requirements, and addressing general corporate purposes.

About Forcas Studio

The company specializes in menswear, offering various garments, including shirts, denims, T-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, boxers, and more. It caters to a pan-India market through both online and wholesale channels under its own brand and through white-labeling for other brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail, and others, as per the company's DRHP report. 

In 2021, the company transitioned to an online business model to better serve its nationwide clientele. Over the past two years, this digital shift has allowed the company to reach over 15,000 pin codes in India, enabling direct sales to end consumers and providing valuable insights into their buying patterns.

The company's products are available in India’s top marketplaces, and there are plans to add more marketplaces in the current fiscal year. In addition to its online presence, the company is represented in over 500 large-format stores, enhancing its visibility in offline spaces. With a product catalogue featuring more than 1,200 SKUs, the company offers a broad and varied selection of menswear, as its DRHP report shows. 

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