Forcas Studio Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Forcas Studio Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹80
Per ShareLot Size
1600 Shares
Minimum Investment
₹1,28,000
Issue Size
₹37.44 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Forcas Studio Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
82.17%
Promoter Holding (Post-Issue)
60.3%
Issue Type
Book Building - SME
ISIN
INE0U2501017
About the Company
Our 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 cater pan India through online and wholesale in our own brand and also white-labelling for other brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail and many more. Our Company is in the business of manufacturing and selling of menswear garments through online ecommerce platforms and wholesale under the name of `FTX', `Tribe' and `Conteno'. Our Company sells products under its own brand through the most popular retail online e-commerce platforms namely, flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Glowroad, Limeroad, Solvd and Shopsy. The wholesale business comprises of sale to wholesalers who purchase in bulk for onward sales to garment retailers in different states of the country. Further, our brand also are sold through large format stores including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail and Sarvana Retails.
Industry Overview
The domestic apparel market can also be broadly divided by price into super premium, premium, medium, economy, and value segments. The medium price segment holds majority of the share among apparel segment followed by economy segment. The price sensitive rural population forms a major part of the value and economy price segments of apparel market. Further, driven by the twin trends of premiumisation and value consciousness, the mid-market segment is being squeezed on both sides by the value and the premium segments. Demand for various apparel categories varies substantially across the country. 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 indicate the higher purchasing power in urban areas and frequency of purchases. The metros also witness huge penetration of women's western wear as compared to Tier -I or Tier -II cities of the country. High real estate costs, competition among branded players and saturation in metro cities of the country have driven big brands to move towards the smaller cities. The increasing purchasing capacity and awareness of fashion and trend in small cities has also resulted in providing a huge market to the organised players of the country. The rural apparel market in India is still primarily catered by unbranded and unorganised local players. Need based clothing and price sensitivity among people of rural India does not make it a lucrative market for branded players.
Company History
Forcas Studio Limited (our "Company" or the "Issuer") was originally formed as a partnership firm under the name and style of `M/s. Forcas Apparels' pursuant to a deed of partnership dated April 9, 2010. Subsequently, pursuant to a resolution dated October 3, 2023 passed at the meeting of partners of M/s. Forcas Apparels, the partnership firm was converted into a private limited company under the Companies Act, 2013 under the name and style of `Forcas Studio Private Limited' and a certificate of incorporation dated January 12, 2024 was issued by the Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a resolution passed by our Board of Directors in their meeting held on February 20, 2024, and by the Shareholders at an Extra-Ordinary General Meeting held on February 23, 2024, our Company was converted into a public limited company and consequently the name of our Company was changed to `Forcas Studio Limited' and a fresh certificate of incorporation dated April 5, 2024 was issued by Registrar of Companies, Central Processing Centre.
Growth Strategy
- Fashion at affordable price.
- Product Pricing.
- Increase online presence.
- Leverage and enhance our brand name.
- Improving operational efficiencies.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 (Feb), FY24 (Mar) and FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of upto 46,80,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an issue price of Rs. 80 per equity share (including a share premium of Rs. 70 per equity share) for cash, aggregating up to Rs. 37.44 crores ("Public Issue") out of which 2,35,200 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 80 per equity share for cash, aggregating Rs. 1.88 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 44,44,800 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 80 per equity share for cash, aggregating up to Rs. 35.56 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 26.62% and 25.28% respectively of the post-issue paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Product Design.
- Wide market Outreach.
- Offering fashion to youth of Urban Bharat.
- Strong Sales & Marketing team.
- Highly experienced management team.
- If the company is unable to anticipate and respond to changes in fashion trends and changing customer preferences in a timely and effective manner, the demand for its products may decline, which may have an adverse effect on its business, results of operations and prospects.
- The company derives a significant portion of its revenues from sales to third party brand owners, wholesalers and through online retailers. Any failure to maintain relationships with such third parties could adversely affect its business, results of operations and financial condition.
- The company is dependent on its contract manufacturers to procure the company products and does not have any manufacturing facilities of its own. The company's business is therefore dependent to a large extent on expected performance and operation of its contract manufacturer partners.
- If any new products or brands that the company launch are not as successful as its anticipate, The company's business, results of operations and financial condition may be adversely affected.
- If the company is unable to procure raw materials, finished products and packing material of the required quality and quantity, at competitive prices, its business, results of operations and financial condition may be adversely affected.