Forcas Studio Shares Surge 90% On NSE SME Debut

New Delhi, Aug 27 (KNN) Forcas Studio, a prominent menswear manufacturer, made a strong debut on the National Stock Exchange's Small and Medium Enterprise (NSE SME) platform on Monday. 

The company's shares opened at Rs 152, marking a significant 90 per cent premium over the initial public offering (IPO) price of Rs 80 per share.

The IPO, consisting of a fresh equity issue of 46.8 lakh shares, garnered substantial investor interest, with overall subscription reaching over 400 times at the close of the offering. 

Prior to the listing, the company's shares were trading with a grey market premium (GMP) of 107 per cent to the issue price, indicating strong market expectations.

Forcas Studio specialises in menswear, offering a diverse range of garments including shirts, denim, t-shirts, trousers, cotton pants, sportswear, party wear, and fashion wear. 

The company operates under its own brands, namely 'FTX', 'Tribe', and 'Conteno', catering to customers across India through online e-commerce platforms and wholesale channels.

In addition to its online presence, Forcas Studio has established partnerships with several large format stores, including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail, and Sarvana Retails. 

The company's wholesale business involves bulk sales to distributors who supply garment retailers in various states throughout the country.

(KNN Bureau)