ENA MSME 2024-08-27 16:44:45 <p><span style="font-size:14px"><strong>New Delhi, Aug 27 (KNN)</strong> 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. </span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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. </span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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. </span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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. </span></p> <p><span style="font-size:14px">The company's wholesale business involves bulk sales to distributors who supply garment retailers in various states throughout the country.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39074 https://knnindia.co.in/news/newsdetails/msme/forcas-studio-shares-surge-90-on-nse-sme-debut 2024-08-27 16:44:45 knnindia.co.in