Forcas Studio IPO subscribed 182 times on day 3 so far. Check GMP, other details
Forcas Studio issue, which opened for bidding on August 19, was subscribed 182 times on Wednesday so far, the final day of the bidding process. This was led by strong demand from retail and non-institutional investors.
As of 12:45 pm, the retail investor category booked strong demand, bidding for 43.15 crore shares by 2.67 lakh applicants. The non-institutional investor (NII) category witnessed a bid for 15.21 crore shares, while the qualified institutional buyers had bid for 2.83 crore shares.
Meanwhile, the current grey market premium (GMP) for Forcas Studio is Rs 72, representing a 90% premium in the unlisted market.
The IPO is entirely a fresh equity issue of 46.8 lakh shares and through the issue, the company plans to raise Rs 37 crore. the net proceeds from the public offer will be used for funding the upgradation of the warehouse, repayment of the debt, working capital requirements, and general corporate purposes.
About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.
Forcas Studio IPO price band
The company is offering its shares at Rs 76-80 apiece, and investors can bid for 1600 shares in 1 lot.
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About Forcas Studio
The company is into menswear and deals in men’s garments such as Shirts, Denims, T-shirts, trousers, Cotton pants, sports wear, party-wear, fashion wear, boxers etc., and caters pan India through online and wholesale in our own brand
