Forcas Studio IPO subscribed 182 times on day 3 so far. Check GMP, other details

The initial public offering (IPO) of Forcas Studio issue, which opened for bidding on August 19, was subscribed 182 times on Wednesday so far, the final day of the bidding process. This was led by strong demand from retail and non-institutional investors.

As of 12:45 pm, the retail investor category booked strong demand, bidding for 43.15 crore shares by 2.67 lakh applicants. The non-institutional investor (NII) category witnessed a bid for 15.21 crore shares, while the qualified institutional buyers had bid for 2.83 crore shares.

Meanwhile, the current grey market premium (GMP) for Forcas Studio is Rs 72, representing a 90% premium in the unlisted market.


The IPO is entirely a fresh equity issue of 46.8 lakh shares and through the issue, the company plans to raise Rs 37 crore. the net proceeds from the public offer will be used for funding the upgradation of the warehouse, repayment of the debt, working capital requirements, and general corporate purposes.

About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.

Forcas Studio IPO price band

The company is offering its shares at Rs 76-80 apiece, and investors can bid for 1600 shares in 1 lot.

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About Forcas Studio

The company is into menswear and deals in men’s garments such as Shirts, Denims, T-shirts, trousers, Cotton pants, sports wear, party-wear, fashion wear, boxers etc., and caters pan India through online and wholesale in our own brand and also white-labeling for other brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail and many more.

Industry overview

The urban metro market comprising cities such as Delhi NCR, Mumbai, Bengaluru, Chennai, etc., is the biggest market for apparel in India and contributes over 20% to the Indian apparel market. Considering that less than 20% of India’s population lives in these cities indicates the higher purchasing power in urban areas and frequency of purchases.

Forcas Studio financial performance

For the year ended March 2024, the company clocked total revenues of Rs 96.07 crore and net profit of Rs 5.14 crore.

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