Forcas Studio Limited to Go Public with Rs 37.44 Crore IPO on August 19, 2024

Forcas Studio Limited, a leader in youth menswear fashion, is launching an IPO on August 19, 2024, aiming to raise Rs 37.44 Crores. The funds will be used for warehouse upgrades, loan repayment, and working capital. Shares will be listed on NSE Emerge.

Mumbai (Maharashtra) [India], August 14: Forcas Studio Limited, a trailblazer in youth fashion with a focus on menswear, announced plans to go public with an Initial Public Offering (IPO) on August 19, 2024. The company aims to raise Rs 37.44 Crores at the upper band, with shares listed on the NSE Emerge platform.

The IPO will feature up to 46,80,000 equity shares at a face value of Rs 10 each. Equity Share Allocation includes: 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; and Market Maker - Up To 2,35,200 Equity Shares. Proceeds will fund warehouse upgrades, loan repayments, working capital, and general corporate purposes. The bidding for Anchor portion opens on August 16, 2024, with the issue available for subscription from August 19 to August 21, 2024.

Horizon Management Private Limited is the Book Running Lead Manager, and Mas Services Limited is the Registrar to the Issue. Sailesh Agarwal, Managing Director of Forcas Studio, emphasized the company's strong market presence and future plans, noting, "Our innovative brands 'FTX', 'TRIBE', and 'Conteno' have made stylish, affordable menswear accessible nationwide. We aim to expand our reach further and launch women's and kids' wear lines."

Manav Goenka, President - Investment Banking at Horizon Management, lauded Forcas Studio's growth and strategic vision, stating, "Their deep industry understanding and commitment to excellence position them for continued success. The upcoming IPO is a milestone that underscores their ambition to become a dominant player in the fashion sector."

(With inputs from agencies.)