Forcas Studios IPO Receives 15.54x Bids On First Day Of Issue Subscription

The menswear company Forcas Studios Limited, which was founded in 2010, intends to raise up to Rs 37.44 crore through its SME public offering. The company has been given permission to begin its public offering on the National Stock Exchange's NSE Emerge Platform.

Price band of public issue

In the Rs 37.44 crore initial public offering, 4,680,000 new shares with a face value of Rs 10 each are being issued. For the public offering, the company has decided on a price range of Rs 77–80 per equity share.

Retail investors must invest a minimum of Rs 128,000, or 1600 shares, as the minimum lot size. For HNIs, the minimum lot size investment is two lots, with 3,200 shares amounting to Rs 256,000.

Subscription timeline

Subscriptions for the public issue are available starting on August 19 and ending on August 21. The public offering's proceeds will be used for general corporate purposes, warehouse upgrades, prepayment or repayment of certain secured loans, and the company's working capital requirements.

The book-running lead manager for the problem is Horizon Management Private Limited.

Financials of forcas studios

In comparison to FY22-23's profitability and revenue of Rs 1.17 crore and Rs 71.62 crore, the company's reported net profit for FY23-24 (ending in February 2024) is Rs 5.53 crore and revenue of Rs 96.48 crore.

The company's ROE was 27.06 per cent, ROCE was 18.54 per cent, and RONW was 27.06 per cent as of March 2024. The company's shares will be listed on the Emerge platform of the NSE.

The company's reported net worth as of February 2024 was Rs 19.01 crore, its reserves and surplus were Rs 6.11 crore, and its asset base was Rs 123.79 crore.

Subscription details

Within the first hours of the subscription opening, the IPO was subscribed to over 15.54 times. The retail investor category received 11.55 times as many subscriptions as the portion designated for non-institutional investors (NIIs), which received 4.04 times as many.