Forcas Studio will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 152, a premium of 90% over the initial public offer (IPO) price. The stock was currently down 3.13% over its listing price. The counter hit a high of Rs 159 and a low of Rs 146.05. About 17.42 lakh shares of the company changed hands at the counter. Forcas Studio's IPO was subscribed 277.47 times. The issue opened for bidding on 19 August 2024 and it closed on 21 August 2024. The price band of the IPO was set at Rs 77 to Rs 80 per share. The IPO comprised fresh issue of 46,80,000 equity shares. The promoter and promoter group shareholding diluted to 60.30% from 82.17% pre-issue. The company intends to utilize the net proceeds for upgradation of warehouse, prepayment or repayment of all or a portion of certain loans availed by the company, to meet working capital requirement, and general corporate purpose. Ahead of the Forcas Studio on 16 August 2024, raised Rs 10.64 crore from anchor investors. The board allotted 13.31 lakh shares at Rs 80 per share to 7 anchor investors. Forcas Studio specializes in menswear, offering a wide range of garments including shirts, denims, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers. The company's business includes manufacturing and selling menswear under the brand names FTX, Tribe and Conteno. It operates pan-India through both online and wholesale channels, featuring its own brands as well as providing white-label services for other prominent brands. The firm distributes its products through major online e-commerce platforms. As on 29 February 2024, the company has 68 employees. The company recorded revenue from operations of Rs 96.07 crore and net profit of Rs 5.14 crore for the period as on 29 February 2024. Powered by Capital Market - Live