Forcas Studio IPO Closed
Already have an account? Apply now
Schedule of Forcas Studio
| Issue open date | 19 Aug 2024 |
| Issue close date | 21 Aug 2024 |
| UPI mandate deadline | 21 Aug 2024 (5 PM) |
| Allotment finalization | 22 Aug 2024 |
| Refund initiation | 23 Aug 2024 |
| Share credit | 23 Aug 2024 |
| Listing date | 26 Aug 2024 |
| Mandate end date | 05 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 21 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 21 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Forcas Studio
Incorporated in 2010, Forcas Studio sells Menswear and deals in men’s garments such as shirts, denims, T-shirts, trousers, cotton pants, sportswear, party-wear, fashion wear, boxers, etc. and caters across India through online and wholesale with its own brands like ‘FTX’, ‘Tribe’ and ‘Conteno’ and also white-labelling for other brands such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail and many more. The Company also sells products under its own brand through the most popular retail online e-commerce platforms namely, Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Shopsy, etc.
The wholesale business comprises sales to wholesalers who purchase in bulk for onward sales to garment retailers in different states of the country. Further, the company’s brands are also sold through large-format stores including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail, Sarvana Retails, and over 500 large-format stores offering a wide range of products with a catalogue of over 1200 SKUs.The company has four warehouses in Kolkata for supply chain management.
Financials of Forcas Studio
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹37.44 crores |
| Fresh Issue | ₹37.44 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Upgradation of warehouse | 1.66 (4.43%) |
| Debt reduction | 13 (34.72%) |
| Working capital requirements | 12 (32.05%) |
| General corporate purposes | 9.36 (25%) |
| Others | 1.43 (3.8%) |
Strengths
- Wide market outreach: The company’s products are available on India’s top marketplaces at the most popular retail online e-commerce marketplaces serving about 15,000 plus pin codes in India and over 500 plus large format stores with more than 1200 SKUs. The Company is presently targeting Tier-2, Tier-3, and Tier-4 cities dedicated to providing value to customers with fashionable and comfortable product ranges.
- Product design: The company’s flagship brand FTX’s design and development process involves a deep understanding of the needs of the customers, research on prevailing fashion trends and consumer tastes and preferences using various system-driven processes, including data analysis, market surveys, international fashion websites, own research team and feedback received from the customers.
Risks
- Dependence on third parties: 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.
- Higher competition: Pricing pressure from the competitors may affect the company’s ability to maintain or increase product prices and, in turn, the revenue from product sales, gross margin, and profitability, which may materially and adversely impact the business.
- Seasonal business: The company’s business is subject to seasonality. Lower revenues in the festive period of any fiscal year may adversely affect business prospects, financial conditions, and operations results.