Forcas Studio IPO Opens Today: Check Subscription Status, GMP Today
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Forcas Studio IPO: The initial public offering (IPO) of Forcas Studio Ltd has been opened for public subscription on Monday, August 19. The price band of the SME IPO was fixed at Rs 77-80 per share. Till 10:57 am on the first day of bidding on Monday, the 37.44-crore IPO received a 7.16 times subscription, garnering bids for 2,22,86,400 shares as against 31,13,600 shares on offer.
According to the latest data, the retail quota received a 12.49 times subscription, while the non-institutional investors category also got a 4.27 times subscription.
The Forcas Studio IPO will be closed on August 21. Its price band has been fixed at Rs 77-Rs 80 apiece. The share allotment will likely be finalised on August 22, while its listing will take place on the NSE SME on August 26.
Forcas Studio IPO GMP Today
According to market observers, unlisted shares of Forcas Studio Ltd are trading Rs 82 higher in the grey market than its issue price. The Rs 82 grey market premium or GMP means the grey market is expecting a whopping 102.5 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Forcas Studio IPO: More Details
Forcas Studio Limited, which was founded in April 2010, sells men’s clothing, including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers. The company provides these products online and in bulk to customers all over India. It also offers white-labelling services for other brands, such as Landmark Group, V-Mart Retail, V2 Retail, Highlander, Cobb, Kontail, and more.
The Forcas Studio IPO is entirely a fresh issue of 46.8 lakh shares.
Investors need to apply for a minimum of 1,600 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,28,000 [1,600 (lot size) x Rs 80 (upper price band)].
Horizon Management Private Limited is the book running lead manager of the Forcas Studio IPO, while Mas Services Limited is the registrar for the issue. The market maker for Forcas Studio IPO is Giriraj Stock Broking.
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