Forcas Studio IPO booked over 6 times within first hour of bidding; retail portion subscribed 11.5 times

Forcas Studio IPO has received a robust response from investors, with the initial public offering (IPO) being subscribed over six times so far on Monday, the first day of bidding.

The issue was subscribed 6.64 within the first hour of opening for subscription. The portion for non-institutional investors (NIIs) was subscribed 4.04 times, while the retail investors category attracted 11.55 times the subscription.

Forcas Studio IPO, which is live from August 19 to August 21, has set a price band of ₹77 to ₹80 per equity share.

The book-built issue is entirely a fresh issuance of 46.80 lakh shares. There is no offer-for-sale (OFS) component. Investors can bid for at least 1,600 shares worth ₹1,28,000.

The funds generated from the fresh issue will be used to upgrade the warehouse, repay certain secured loans, meet working capital requirements, and for general corporate purposes.

The book-running lead manager for the issue is Horizon Management Pvt Ltd, while Mas Services Ltd is the IPO's registrar.

Forcas Studio IPO: Timeline

• Bidding period: August 19 to August 21
• Allotment finalisation: August 22
• Refund initiation: August 23
• Demat transfer: August 23
• Listing: August 26

About Forcas Studio

Incorporated in April 2010, Forcas Studio is a major player in the men's clothing segment, offering products such as shirts, t-shirts, denim, trousers, sportswear, cotton pants, fashion wear, and party wear. Its proprietary brands, 'Tribe', 'FTX', and 'Conteno', are available on leading e-commerce platforms like Myntra, Amazon, Ajio, and Flipkart.

The company also has a strong offline presence, featuring its brands in more than 500 large-format stores, including Metro Bazar and V-Mart Retail.