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20 Nov 2024
Forcas Studio Limited IPO And Its GMP
Forcas Studio Limited is into Menswear and deals in men’s garments such as Shirts, Denim, T-shirts, trousers, Cotton pants, sports-wear, party-wear, fashion wear, boxers etc. and cater pan India through online and wholesale in our brand and also white-labeling for other brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail and many more. The company manufactures and sells menswear garments through online e-commerce platforms and wholesale under the name of ‘FTX’, ‘Tribe’ and ‘Conteno’.
They sell products under its brand through the most popular retail online e-commerce platforms namely, Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Glowroad, Limeroad, Solved and Shopsy. The wholesale business comprises sales to wholesalers who purchase in bulk for onward sales to garment retailers in different states of the country. Further, their brand is also selling through large format stores including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail and Sarvana Retails.
Issue Size: Rs 37.44 crores
Type of Issue: Fresh issue of shares
Number of Shares: 46.8 lakh shares
Price Band: ₹77 to ₹80 per share
Subscription Period: August 19, 2024 - August 21, 2024
Minimum Lot Size: 1,600 shares
Book Running Lead Manager: Horizon Management Private Limited
Registrar: Mas Services Limited
Market Maker: Giriraj Stock Broking
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Forcas Studio IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 25-08-2024 | 80 | 82.0 (103%) | 25-Aug-2024 12:20 |
| 24-08-2024 | 80 | 82.0 (103%) | 24-Aug-2024 13:20 |
| 23-08-2024 | 80 | 82 | 23-Aug-2024 14:00 |
| 22-08-2024 | 80 | 86 | 22-Aug-2024 14:00 |
| 21-08-2024 | 80 | 85.0 (106%) | 21-Aug-2024 12:50 |
| 20-08-2024 | 80 | 83.0 (104%) | 20-Aug-2024 14:10 |
| 17-08-2024 | 80 | 80.0 (100%) | 17-Aug-2024 13:10 |
| 16-08-2024 | 80 | 75 | 16-Aug-2024 13:10 |
| 14-08-2024 | 80 | 60.0 (75%) | 14-Aug-2024 12:50 |
| 13-08-2024 | 80 | 60.0 (75%) | 13-Aug-2024 13:30 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Forcas Studio IPO Overview
| Detail | Description |
|---|---|
| IPO Date | August 19, 2024 to August 21, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹77 to ₹80 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 4,680,000 shares (aggregating up to ₹37.44 Cr) |
| Fresh Issue | 4,680,000 shares (aggregating up to ₹37.44 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 12,900,000 |
| Shareholding post issue | 17,580,000 |
| Market Maker portion | 235,200 shares Giriraj Stock Broking |
Forcas Studio IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Monday, August 19, 2024 |
| IPO Close Date | Wednesday, August 21, 2024 |
| Basis of Allotment | Thursday, August 22, 2024 |
| Initiation of Refunds | Friday, August 23, 2024 |
| Credit of Shares to Demat | Friday, August 23, 2024 |
| Listing Date | Monday, August 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2024 |
Forcas Studio IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹128,000 |
| Retail (Max) | 1 | 1600 | ₹128,000 |
| HNI (Min) | 2 | 3,200 | ₹256,000 |
Forcas Studio IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 49.96% of the Net Issue |
| Retail Shares Offered | Not less than 35.03% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.01% of the Net Issue |
Forcas Studio IPO Promoter Holding
| Share Holding Pre Issue | 82.17% |
| Share Holding Post Issue | 60.30% |
Forcas Studio IPO Anchor Investors Details
| Bid Date | August 16, 2024 |
| Shares Offered | 1,331,200 |
| Anchor Portion Size (In Cr.) | 10.65 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 20, 2024 |
Company & Financials
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-labeling 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, denim, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear and boxers for the Indian menswear segment. The company sells its products through online platforms under the brand names ‘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, Solved 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 catalog of over 1200 SKUs. The company has four warehouses in Kolkata for supply chain management.
Forcas Studio Limited Financial Information (Restated)
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 12,379.43 | 3,923.85 | 4,333.27 | 4,890.73 | ||||||||||||||||||||||||||||||||||||
| Revenue | 9,648.78 | 7,162.42 | 5,380.44 | 5,113.14 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 553.31 | 114.55 | 78.44 | 55.55 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,901.97 | 860.26 | 830.84 | 711.94 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 611.97 | |||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 2,861.04 | 2,325.26 | 2,419.99 | 2,437.92 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 27.06% |
| ROCE | 18.54% |
| Debt/Equity | 1.5 |
| RoNW | 27.06% |
| P/BV | 8 |
| PAT Margin (%) | 5.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.36 | 3.43 |
| P/E (x) | 58.82 |
Objectives of Forcas Studio Products IPO
The company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- ● Funding for the upgrade of the warehouse.
- ● Prepayment or repayment of certain secured loans availed by the company.
- ● Funding of working capital requirements of the company.
- ● General Corporate Purposes.
Forcas Studio IPO Review
The company is in the business of menswear which is a highly competitive and fragmented segment. The company claims to have taken a niche place in selling its brands on online/offline platforms and gaining ground. Reduced interest costs will help it to boost bottom lines for coming years. Based on FY24 super annualized earnings, the issue appears aggressively priced. However, well-informed investors may park moderate funds for the long term.
FAQs for Forcas Studio IPO
-
What is Forcas Studio IPO?
Forcas Studio IPO is an NSE SME IPO. They are going to raise ₹37.44 Crores via IPO. The issue is priced at ₹77 to ₹80 per equity share. The IPO is to be listed on NSE.
-
When will Forcas Studio IPO open?
The IPO is to open on August 19, 2024, for QIB, NII, and Retail Investors.
-
What is Forcas Studio IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Forcas Studio IPO Size?
Forcas Studio IPO size is ₹37.44 crores.
-
What is Forcas Studio IPO Price Band?
Forcas Studio's IPO Price Band is ₹77 to ₹80 per equity share.
-
What is Forcas Studio IPO Minimum and Maximum Lot Size?
The IPO bid is 1600 shares with ₹128,000.
-
What is the Forcas Studio IPO Allotment Date?
Forcas Studio's IPO allotment date is August 22, 2024.
-
What is the Forcas Studio IPO Listing Date?
Forcas Studio's IPO listing date is August 26, 2024. The IPO to list on NSE SME.
-
What is the current GMP of Forcas Studio?
The current GMP of Forcas Studio is 82.0 (103%).
RHP:
RHP of Forcas Studio Limited IPO
DRHP:
DRHP of Forcas Studio Limited IPO
-
What is Forcas Studio IPO?
Forcas Studio IPO is an NSE SME IPO. They are going to raise ₹37.44 Crores via IPO. The issue is priced at ₹77 to ₹80 per equity share. The IPO is to be listed on NSE.
-
When will Forcas Studio IPO open?
The IPO is to open on August 19, 2024, for QIB, NII, and Retail Investors.
-
What is Forcas Studio IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Forcas Studio IPO Size?
Forcas Studio IPO size is ₹37.44 crores.
-
What is Forcas Studio IPO Price Band?
Forcas Studio's IPO Price Band is ₹77 to ₹80 per equity share.
-
What is Forcas Studio IPO Minimum and Maximum Lot Size?
The IPO bid is 1600 shares with ₹128,000.
-
What is the Forcas Studio IPO Allotment Date?
Forcas Studio's IPO allotment date is August 22, 2024.
-
What is the Forcas Studio IPO Listing Date?
Forcas Studio's IPO listing date is August 26, 2024. The IPO to list on NSE SME.
-
What is the current GMP of Forcas Studio?
The current GMP of Forcas Studio is 82.0 (103%).
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