Forcas Studio’s initial public offering (IPO) began on August 19, 2024, and will close on August 21, 2024. The shares are priced between ₹77 and ₹80 each, with a face value of ₹10. On the first day of bidding, the IPO was oversubscribed by more than 23 times, mainly driven by retail investors. Retail investors alone subscribed 40.15 times the available shares, while the non-institutional investor (NII) portion was booked 15.99 times. Bids from qualified institutional buyers (QIB) have not yet been recorded.
Company Overview
Forcas Studio specializes in men’s clothing, including shirts, jeans, T-shirts, and more. They sell their products online and provide white-label services for other brands. The company’s revenue was ₹9,607.24 lakhs, with an EBITDA of ₹927.59 lakhs and a profit after tax of ₹514.75 lakhs as of February 2024.
IPO Details
The IPO involves a fresh issuance of 4,680,000 shares, raising ₹37.44 crore. The funds will be used to upgrade warehouses, repay loans, and support working capital. The IPO has no “offer for sale” component.
Grey Market Premium
Today, the grey market premium (GMP) for Forcas Studio IPO shares is ₹82. This means shares are trading at a premium of ₹82 over the IPO price. Based on this premium, the expected listing price for Forcas Studio shares is around ₹162, which is 102.5% higher than the top end of the IPO price band.
Additional Information
The IPO is managed by Horizon Management Private Limited, with Mas Services Limited as the registrar and Giriraj Stock Broking as the market maker.
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