Forcas Studio IPO allotment expected today: Steps to check status on NSE, Mas Services

Forcas Studio Limited IPO share allotment status is expected to be on Thursday, August 22. The bidding for ₹37.44-crore initial public offer of the men’s wear manufacturer closed on Wednesday.

The IPO was booked more than 417 times, driven by strong demand from retail and non-institutional investors (NIIs).

Forcas Studio is expected to initiate refunds and credit of shares to Demat accounts on August 23 after the share allotment. The company has proposed listing shares on the NSE SME platform Emerge on Monday, August 26.

The company will inform successful bidders via SMS, email, or registered email IDs. Investors can also check the share allotment status on the NSE and the official website of the IPO registrar, Mas Services Limited. The investors can check the share allotment status by following these simple steps.

Steps to check Forcas Studio Limited IPO share allotment on registrar Mas Services’ website

• Open Mas Services Ltd website (https://www.masserv.com/index.asp)
• Click on IPO allotment status
• Select either Search on Dp_id/Client id or Search on PAN No
• Enter details
• Select Forcas Studio Limited from the drop down menu for company names
• Submit to check for share allotment status.
• Share allotment status will be available after the finalisation by the company.

How to check Forcas Studio Limited IPO share allotment on NSE

• Open NSE IPO allotment status check page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Create username and password on NSE website first)
• Select Forcas Studio Limited
• Verify PAN details
• Enter IPO application number
• Click on Submit

Forcas Studio IPO details

Forcas Studio IPO was a book-built issue worth ₹37.44 crore. The NSE SME IPO comprised a fresh issue of 46.8 lakh shares. It was open for subscription from August 19 to August 21.

The company fixed the price band at ₹77 to ₹80 per share. The minimum lot size was 1,600 shares. The minimum investment required was ₹1,28,000 for retail investors.

At the close of bidding on August 21, the Forcas Studio IPO was booked nearly 417 times. Applications for 129.83 crore shares worth up to ₹10,387 crore were received against net issue size of 31.13 lakh.

Retail Investors’ portion was booked nearly 416 times. Non-Institutional Buyers’ quota was booked nearly 702 times. The Qualified Institutional Buyers’ portion was booked 205 times.

Horizon Management Pvt Ltd is the book-running lead manager. Mas Services Limited is the registrar for the Forcas Studio IPO.

Earlier, Forcas Studio raised ₹10.65 crore from anchor investors. The company allotted 13,31,200 shares to seven fund schemes at a price of ₹80 per share. Seven Saint Capital Fund and Vikasa India EIF (Incube Global Opportunities) are the lead anchor investors.

About Forcas Studio

Forcas Studio Limited sells men's garments such as jeans, T-shirts, shorts, trousers, sportswear, and party wear. The company supplies products in bulk to its clients in India. Its customers include V-Mart Retail, V2 Retail, Landmark Group, Cobb, and Kontail. Forcas also sells products through its online platform under the brand names FTX, Tribe, and Conteno.