Forcas Studio Ltd. was incorporated on April 9, 2010. The company is in the business of manufacturing and selling of menswear garments through online e-commerce platforms and wholesale under the name ‘FTX’, ‘Tribe’, and ‘Conteno’. The wholesale business comprises sales to wholesalers who purchase in bulk for onward sales to garment retailers in different states of the country.
| Bidding Dates |
|---|
| 19 Aug 2024 - 21 Aug 2024 |
| Subscription |
|---|
| 387.76x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,23,200 | 1 | 1 | 1600 | 4.7 M | ₹77 - ₹80 | 60.3 % | ₹360.4 M - ₹374.4 M | RHP DOC |
Forcas Studio IPO SUBSCRIPTION STATUS
21 Aug '24Forcas Studio IPO overall subscription rate was 387.76 times the total available shares
Forcas Studio IPO retail subscription rate was 552.3 times in the retail segment
Forcas Studio IPO non-institutional investor subscription rate was 932.69 times in the non-institutional investor category
Forcas Studio IPO Qualified Institutional Bidder subscription rate was 109.12 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
- | - | - | - |
21 Aug 2024 (Day 4) | 552.3x | 932.69x | 109.12x |
20 Aug 2024 (Day 3) | 215.01x | 270x | 2.98x |
19 Aug 2024 (Day 2) | 78.33x | 182.76x | - |
Forcas Studio FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 11M FY24 | 51.5 | 960.7 | -67.3 | -68.1 | 9.7% |
| FY23 | 11.7 | 696.0 | 53.4 | 46.0 | 6.5% |
| FY22 | 8.1 | 532.0 | 25.1 | 24.0 | 6.7% |
| FY21 | 5.8 | 505.1 | 25.4 | 23.5 | 6.8% |
Forcas Studio IPO SUBSCRIPTION STATUS DETAILS
Forcas Studio had 4.7 M shares on offer
Forcas Studio IPO offer price was in the range ₹77 - ₹80
Forcas Studio IPO minimum Investment was ₹123200
Forcas Studio IPO issue size was ₹ 360.4 M - ₹ 374.4 M
Forcas Studio had a minimum lot size of 1600 Shares per application
Forcas Studio NUMBER OF SHARES ON OFFER
Forcas Studio IPO IMPORTANT DATES
| Issue Open Date | 19 Aug 2024 |
| Issue close Date | 21 Aug 2024 |
| Allotment Date | 22 Aug 2024 |
| Refund Date | 23 Aug 2024 |
| Demat Account Credit Date | 23 Aug 2024 |
| Listing Date | 26 Aug 2024 |
| Listing on Exchange(s) | NSE |
| Forcas Studio Allotment Status | Exchange |
Forcas Studio IPO subscription opened on 19 Aug 2024, and closed on 21 Aug 2024
IPO allotment for Forcas Studio was finalized on Thursday, 22 Aug 2024
IPO listing for Forcas Studio was on NSE on Monday, 26 Aug 2024
Forcas Studio IPO LISTING GAINS
| Issue Price (adjusted) | 80.0 |
| Listing Open Price | 152.0 |
| Listing Close Price | 144.4 |
| Listing Gain% | 90.0% |
| Current Gain% | 133.9% |
Forcas Studio Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Forcas Studio Ltd. | 187.1 | 328.9 | 24.1 | 0.4 | 1.7 | 16.3 | 8.4 | 198 | 38.4 | 13.6 | 58 | 7.8 | 58 |
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Forcas Studio INFORMATION ON IPO ISSUE
About Forcas Studio
Forcas Studio Ltd. was incorporated on April 9, 2010. The company is in the business of manufacturing and selling of menswear garments through online e-commerce platforms and wholesale under the name ‘FTX’, ‘Tribe’, and ‘Conteno’. The wholesale business comprises sales to wholesalers who purchase in bulk for onward sales to garment retailers in different states of the country.
Object of the Issue
- Funding for the upgradation 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 - PROMOTERS
| Name |
|---|
| Sailesh Agarwal |
| Sourav Agarwal |
Forcas Studio Lead Manager of the Issue
Horizon Management Private Limited
smeipo@horizon.net.co
Forcas Studio Registrar to the issue
MAS Services Limited
ipo@masserv.com
Forcas Studio Strengths
Wide market outreach
The company's products are available under its brand at the most popular retail online e-commerce marketplaces namely, Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, etc. The company currently serves about 15,000 plus pin codes in India and over 500 plus large format stores with more than 1200 SKUs
Strong customers and suppliers relationship
The company has maintained a long-standing relationship with its major customers for white-label manufacturing. It uses the data of online sales and customer behavior to identify the demand in different states of the country and share this demand with the wholesalers helping them sell precise products in larger volumes in the offline MBO market.
Wide range of products
The firm provides a broad range of products to its customers which increases the scope of the customers and its ability to cater to a diversified clientele base.
Forcas Studio Risks
Dependent on third party sales
The company derives a significant portion of its revenues from sales to third-party brand owners, wholesalers, and online retailers. Any failure to maintain relationships with such third parties could adversely affect the business, results of operations, and financial condition.
Geographically concentrated manufacturing
The company's warehouse and a majority of its contract manufacturers are exclusively based in a single geographical region in and around Kolkata and depend on contract manufacturers for a significant portion of the manufacturing processes of its products.
IPO FAQs
The promoters of the company are Sailesh Agarwal and Sourav Agarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 77.0 - 80.0.
The IPO application opens on Aug 19, 2024 and closes on Aug 21, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 123,200.0, the maximum value for this IPO is Rs 128,000.0.
This IPO will be allotted on Aug 22, 2024.
The refund will be credited to your account on Aug 23, 2024.
The allotted shares will be credited to your demat on Aug 23, 2024.
Forcas Studio Ltd.’s shares listed on the stock exchanges on Aug 26, 2024.