Forcas Studio Ltd. launched its initial public offering on Monday, with the issue closing on August 21. The company aims to raise Rs 37.44 crores through the IPO, offering a fresh issue of 46.8 lakh shares. The shares will be listed on the NSE SME platform, with a tentative listing date of August 26.
Forcas Studio IPO Details
The IPO will be priced in the range of Rs 77 to Rs 80 per share. Retail investors can apply in multiples of 1,600 shares, with a minimum investment of Rs 1,28,000. High Net-Worth Individuals will need to invest in at least 3,200 shares, amounting to Rs 2,56,000. Horizon Management Private Ltd. is the book-running lead manager, Mas Services Ltd. is the registrar, and Giriraj Stock Broking serves as the market maker for the issue.
Forcas Studio IPO Day 1 Subscription Status
The IPO has been subscribed 21.63 times at 02:17 p.m. on Monday.
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Qualified Institutions: 0.00 times.
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Non-institutional buyers: 14.96 times.
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Retail Investors: 36.84 times
The subscription status will be updated at regular intervals.
About Forcas Studio Ltd.
Established in April 2010, Forcas Studio Ltd. specialises in men’s clothing, offering a diverse range of products including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers. The company sells these products online and in bulk across India. It also provides white-labeling services for notable brands like Landmark Group, V-Mart Retail, and Highlander. Forcas Studio markets its products under the brands ‘FTX,’ ‘Tribe,’ and ‘Conteno.’
Use of Funds and Objectives
The proceeds from the IPO will be utilised for several purposes: upgrading the company’s warehouse facilities, prepaying or repaying existing secured loans, funding working capital requirements, and addressing general corporate needs.
Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in Forcas Studio Ltd.
. Read more on IPOs by NDTV Profit.