Forcas Studio Limited IPO Opens on August 19, 2024

Mumbai (Maharashtra) [India], August 14: Forcas Studio Limited, one of the pioneers in aspirational fashion brands for the youth of Bharat, with a strong focus on menswear, has announced its plan to go public with an Initial Public Offering (IPO) on August 19, 2024. The company is aiming to raise ₹ 37.44Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.

The issue size is Up to 46,80,000 equity shares at a face value of ₹ 10 each. 

The net proceeds from the IPO will be utilized for Funding the upgradation of the warehouse, Prepayment or repayment of certain secured loans availed by the Company, Funding of working capital requirements and General Corporate Purposes. The bidding for Anchor portion will open on August 16, 2024, the issue will open for subscription for all other category from August 19, 2024 and closes on August 21, 2024.

The Book Running Lead Manager to the Issue is Horizon Management Private Limited. The Registrar to the Issue is Mas Services Limited.

Mr. Sailesh Agarwal, Managing Director of Forcas Studio Limited, expressed, “Reflecting on our remarkable journey, Forcas Studio Limited has evolved into a distinguished name in the Indian menswear market, embodying style, quality, and affordability. From the beginning, we have consistently prioritized innovation and customer satisfaction. Our brands ‘FTX’, ‘TRIBE’, and ‘Conteno’ have become synonymous with fashionable, affordable, and comfortable menswear, catering to a wide demographic across India.

As we move forward, our focus remains on expanding our reach and enhancing our brand presence both online and offline. The shift to online business in 2021 has allowed us to connect directly with consumers, serving over 15,000 pin codes and gaining valuable insights into their preferences. With over 1,200 SKUs and a strong presence on major e-commerce platforms, we are committed to delivering value to our customers, particularly in Tier-2, Tier-3, and Tier-4 cities and Towns, where we see tremendous potential for growth. 

Our mission is to become the leading menswear brand for the masses of Bharat, and with the upcoming launch of our women’s wear and kids’ wear lines under the brands ‘TRIBE’ and ‘Conteno’, we are poised to further diversify our offerings and solidify our position in the fashion industry.”

Mr. Manav Goenka, President – Investment Banking of Horizon Management Private Limited, said, “The growth of Forcas Studio Limited is a reflection of their keen understanding of the men’s fashion industry and their unwavering commitment to excellence. Their ability to navigate the rapidly changing fashion landscape, coupled with a robust online presence and a diverse range of stylish and affordable menswear, positions them for continued success. The strategic expansion into new product lines, combined with their focus on becoming a dominant brand in the men’s fashion sector, highlights their ambition and vision. The upcoming IPO represents a significant milestone in their journey, and we are confident that Forcas Studio Limited will continue to set new benchmarks in the industry, driven by innovation, customer-centricity, and a deep knowledge of market trends.”

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