Foce India IPO is all set to make its debut on 13th Dec 21 with 29.03 Cr is mainly engaged in the business of supply, distribution, and retailing of various types of wristwatches such as Analog, Digital, Chronograph, Designer.
Foce India IPO – overview
| IPO Dates | 13-17 Dec 2021 |
| IPO Price | INR 225 per share |
| Fresh issue | 1290,000 shares (INR 29.03 crore) |
| Offer For Sale | Nil |
| Total IPO size | 1290,000 shares (INR 29.03 crore) |
| Minimum bid (lot size) | 600 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge |
Foce India IPO – Tentative Dates
| IPO Offer Opening Date | 13 Dec 2021 |
| IPO Closing Date | 17 Dec 2021 |
| Finalization of Basis of Allotment | 21 Dec 2021 |
| Initiation of refunds | 22 Dec 2021 |
| Transfer of shares to demat accounts | 23 Dec 2021 |
| IPO Listing Date | 28 Dec 2021 |
| Opening Price on NSE SME | Coming soon |
| Closing Price on NSE SME | Coming soon |
Company Overview
Incorporated in 2001, Foce India is mainly engaged in the business of supply, distribution, and retailing of various types of wristwatches such as Analog, Digital, Chronograph, Designer, etc. These watches are either custom-built or are general in nature. The company supplies wristwatches in bulk to their top 5 Institutional customers constituting approximately 95% of the company’s total revenue. The company also distributes, and retails wristwatches made under Brand Name “FOCE” which contributes to 2% of their revenues. Foce India is also involved in the business of corporate gifting (such as Time Piece, Wall Clocks, Belts, Ties, Wallets, Pens, Goggles, etc.) ornamental packaging boxes for watches, selling of watches and other products under royalty brands which constitute around 3% of their total revenue.
On April 06, 2021, Foce India incorporated a wholly owned subsidiary company namely “FO Industries Private Limited” in Mumbai with an object to carry on the business of manufacturing/ assembling watches and other products and the facilities is being located at Bhiwandi, Near Mumbai.
Industry Overview
It has been just over a year since the world awoke to the enormity of the pandemic and how it affected life the world over. For Swiss watchmakers, 2020 was one of the worst years on record as export numbers plummeted to 2010 levels. As per the latest FH report, the decline in exports in the world’s top 10 markets is gradually slowing down. Hong Kong, the Swiss powerhouse for exports till 2019, has now been replaced by China in the top spot. Currently the world’s largest market for Swiss watches, China has once again taken the lead in exports in January 2021 with a 58.2 percent growth. US was the second-best market in terms of total export value though it still posted a negative 11 percent growth. Although Hong Kong is holding its place amongst the top three markets globally, its performance has further deteriorated to a negative 8.5 percent growth.
“Strict measures to combat the pandemic had a sharply negative impact on watch exports to Japan (-20.9 percent) and the United Kingdom (-20.2 percent). Singapore, on the other hand, (-1.6 percent) showed almost no change,” noted the FH. “Europe remained more heavily affected than other regions, with exports plummeting by 26.9 percent in January.
Competitive Strengths:
- Experience of over two decades in the watch industry
- Pan India presence through a network of strategically located retail watch stores
- Experienced promoters and a strong management team and employees
Objectives of the issue
- To meet Working Capital Requirement
- General Corporate Purpose
- Meeting the Issue Expense
Company Financials
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 374.85 | 111.81 | 140.48 |
| Total Revenue | 768.98 | 544.44 | 620.81 |
| Profit After Tax | 19.89 | 16.07 | 15.84 |
Company Contact Information
Foce India Limited
4 Kingston, Shastri Nagar, Lokhandwala Complex,
Andheri West, Mumbai-400 053,
Maharashtra
Phone: 022 26349544
Email: office@foceindia.com
Website: http://www.foceindia.com/
Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com
Lead Manager(s)
- Mark Corporate Advisors Private Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
