31 Mar 2021
Assets48.91
Total Income51.13
Profit After Tax0.56
NET Worth7.12
Total Borrowing24.38
At a glance
Updated 2026-09-13The shares listed at ₹152.00, a 90.00% move from the issue price. Forcas Studio is a SME IPO with an issue size of ₹37.44 crore, proposed for listing on NSE SME. The offer opens on 19th Aug 2024 and closes on 21st Aug 2024. The issue structure includes a fresh issue of ₹35.56 crore. The current listing schedule points to 26th Aug 2024.
Issue details
Listing atNSE SME
Issue typeBook Build Issue
Issue size₹37.44 Cr
Fresh issue₹35.56 Cr
Face value₹10
Price band₹77.00–₹80.00
Allotment22nd Aug 2024
Listing26th Aug 2024
Listing performance
Full performance ↗Issue price₹80.00
Listing price₹152.00
Current price—
Listing gain90.00%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹86.00
GMP / upper price107.50%
Est. listing₹166.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens19th Aug 2024
Closes21st Aug 2024
Allotment22nd Aug 2024
Refund23rd Aug 2024
Demat23rd Aug 2024
Listing26th Aug 2024
Subscription demand
Full bidding ↗Total416.99×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 1600 | ₹128,000 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Funding of upgradation of warehouse | ₹1.66 Cr |
| Prepayment or repayment of certain secured loans availed by the Company | ₹13.00 Cr |
| Funding of working capital requirements of the Company; | ₹12.00 Cr |
| General Corporate Purposes | ₹8.43 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue96.49₹ Cr · +34.7% vs prior year
PAT5.53₹ Cr · +380.9% vs prior year
Assets123.79₹ Cr · +215.5% vs prior year
Net Worth19.02₹ Cr · +121.2% vs prior year
Borrowing28.61₹ Cr · +23.1% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2022
Assets43.33
Total Income53.80
Profit After Tax0.78
NET Worth8.31
Total Borrowing24.20
31 Mar 2023
Assets39.24
Total Income71.62
Profit After Tax1.15
NET Worth8.60
Total Borrowing23.25
29 Feb 2024
Assets123.79
Total Income96.49
Profit After Tax5.53
NET Worth19.02
Reserves and Surplus6.12
Total Borrowing28.61
KPIs
| KPI | Feb 29, 2024 |
|---|---|
| ROE | 27.06% |
| ROCE | 18.54% |
| Debt / Equity | 1.50% |
| RoNW | 27.06% |
| PAT Margin | 5.36% |
| Price to Book Value | 5.43 |
Valuation & shareholding
Pre-IPO EPS0.89
Post-IPO EPS3.43
Pre-IPO P/E90.09
Post-IPO P/E23.3
Promoter holding pre82.17%
Promoter holding post60.3%
Market cap₹140.64 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Forcas Studio IPO | — | 25.08 x | — | — |
| Ashutosh Fibre IPO | — | 12.55 x | — | — |
| Madhur Knit IPO | — | 13.35 x | — | — |
| Fascinate Textiles IPO | — | 36.97 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | ₹0.61 Cr |
| Marketing and Selling Commission and expenses | ₹1.49 Cr |
| Advertising and marketing expenses | ₹0.08 Cr |
| Printing and distribution of issue stationery | ₹0.01 Cr |
| Listing fees | ₹0.01 Cr |
| NSE processing fees | ₹0.00 Cr |
| Book Building software fees | ₹0.04 Cr |
| Other regulatory expenses | ₹0.11 Cr |
| Miscellaneous | ₹0.01 Cr |
Registrar & lead managers
Registrar
MAS Services Ltd.Lead managers
- Horizon Management Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-13.
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