Forcas Studio Limited IPO Opens on August 19, 2024
by Prashant Kapadia/NHN
● Issue Size – Up To 46,80,000 Equity Shares of ₹ 10 each
● Issue Size – ₹ 37.44 Crores (At Upper Band)
● Price Band – ₹ 77 – ₹ 80 Per Share● Lot Size – 1,600 Equity Shares
Mumbai, August 13, 2024 – Forcas Studio Limited, one of the pioneers in aspirational fashion brands for the youth of Bharat, with a strong focus on menswear, has announced its plan to go public with an Initial Public Offering (IPO) on August 19, 2024.
The company is aiming to raise ₹ 37.44 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.The issue size is Up to 46,80,000 equity shares at a face value of ₹ 10 each.
Equity Share Allocation
● QIB Anchor Portion – Up To 13,31,200 Equity Shares
● Qualified Institutional Buyers (QIB) – Up To 8,89,600 Equity Shares
● Non-Institutional Investors (NII) – Up To 6,67,200 Equity Shares
● Retail Individual Investors (RII) – Up To 15,56,800 Equity Shares
● Market Maker – Up To 2,35,200 Equity Shares
The net proceeds from the IPO will be utilized for Funding of upgradation of warehouse, Prepayment or repayment of certain secured loans availed by the Company, Funding of working capital requirements and General Corporate Purposes. The bidding for Anchor portion will open on August 16, 2024, the issue will open for subscription for all other category from August 19, 2024 and closes on August 21, 2024.
The Book Running Lead Manager to the Issue is Horizon Management Private Limited. The Registrar to the Issue is Mas Services Limited.
Mr. Sailesh Agarwal, Managing Director of Forcas Studio Limited expressed, “Reflecting on our remarkable journey, Forcas Studio Limited has evolved into a distinguished name in the Indian menswear market, embodying style, quality, and affordability. From the beginning, we have consistently prioritized innovation and customer satisfaction. Our brands ‘FTX’, ‘TRIBE’, and ‘Conteno’ have become synonymous with fashionable, affordable, and comfortable menswear, catering to a wide demographic across India.
As we move forward, our focus remains on expanding our reach and enhancing our brand presence both online and offline. The shift to online business in 2021 has allowed us to connect directly with consumers, serving over 15,000 pin codes and gaining valuable insights into their preferences. With over 1,200 SKUs and a strong presence on major e-commerce platforms, we are committed to delivering value to our customers, particularly in Tier-2, Tier-3, Tier-4 cities and Towns, where we see tremendous potential for growth.
Our mission is to become the leading menswear brand for the masses of Bharat, and with the upcoming launch of our women’s wear and kids’ wear lines under the brands ‘TRIBE’ and ‘Conteno’, we are poised to further diversify our offerings and solidify our position in the fashion industry.
”Mr. Manav Goenka, President – Investment Banking of Horizon Management Private Limited said, “The growth of Forcas Studio Limited is a reflection of their keen understanding of the men’s fashion industry and their unwavering commitment to excellence. Their ability to navigate the rapidly changing fashion landscape, coupled with a robust online presence and a diverse range of stylish and affordable menswear, positions them for continued success. The strategic expansion into new product lines, combined with their focus on becoming a dominant brand in the men’s fashion sector, highlights their ambition and vision. The upcoming IPO represents a significant milestone in their journey, and we are confident that Forcas Studio Limited will continue to set new benchmarks in the industry, driven by innovation, customer-centricity, and a deep knowledge of market trends.
”About Forcas Studio Limited:Forcas Studio Limited specializes in men’s garments, including shirts, denims, T-shirts, trousers, sportswear, and more. Serving a Pan-India clientele through online and wholesale channels, they offer products under their brands ‘FTX,’ ‘Tribe,’ and ‘Conteno,’ while also white-labelling for major brands like Landmark Group and V-Mart. Since transitioning to online sales in 2021, Forcas Studio has reached over 15,000 pin codes, targeting Tier-2, Tier-3, Tier-4 cities and Towns with 95% of their products priced below ₹499. Their products are available on platforms like Flipkart, Myntra, and Amazon, as well as in 500+ large-format stores. Operating an asset-light model with locally sourced manufacturing, Forcas Studio is committed to becoming the #1 menswear brand in Bharat.Till Feb ‘24, The Company Achieved a Revenue of ₹ 9,607.24 Lakhs, EBITDA of ₹ 927.59 Lakhs, & PAT of ₹ 514.75 Lakhs