The Forcas Studio IPO has garnered remarkable attention from investors, achieving a subscription rate of more than 7 times within just an hour of opening for bidding on August 19, 2024. This initial public offering (IPO) is creating a buzz in the market, with investors eagerly participating.
Strong Market Reception and GMP Update
The IPO price band was set between Rs 77 and Rs 80 per share. By 10:57 AM on the first day of bidding, the IPO had received bids for 22,286,400 shares, compared to the 3,113,600 shares on offer. The retail quota saw an impressive 12.49 times subscription, while the non-institutional investors category received a 4.27 times subscription.
In the grey market, Forcas Studio’s unlisted shares are trading at a premium of Rs 82 above the issue price. This grey market premium (GMP) suggests a potential 102.5% listing gain, indicating strong investor confidence and expectations for a successful public listing.
Key IPO Details
- IPO Opening Date: August 19, 2024
- IPO Closing Date: August 21, 2024
- Price Band: Rs 77 – Rs 80 per share
- Minimum Investment: Rs 1,28,000 (1,600 shares x Rs 80)
- Share Allotment Date: August 22, 2024
- Listing Date: August 26, 2024
- Listing Exchange: NSE SME
About Forcas Studio Ltd.
Founded in April 2010, Forcas Studio Ltd. specializes in men’s clothing, offering a wide range of products including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers. The company serves customers across India, providing products both online and in bulk. Additionally, Forcas Studio offers white-label services for several well-known brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, and Kontail.
Investment Opportunities
Forcas Studio IPO is entirely a fresh issue of 4.68 million shares, making it a lucrative opportunity for investors looking to tap into the growing demand for quality men’s fashion in India. The book running lead manager for the IPO is Horizon Management Private Limited, with Mas Services Limited serving as the registrar. Giriraj Stock Broking is the market maker for this IPO.
Investors need to apply for a minimum of 1,600 equity shares, making the minimum investment requirement Rs 1,28,000 at the upper price band.
Conclusion
The overwhelming response to the Forcas Studio IPO within the first hour of bidding reflects the market’s strong confidence in the company’s growth potential. With a promising grey market premium and substantial subscription rates, this IPO is poised to deliver significant returns for early investors.