About the Company:
FOCE India Ltd is mainly engaged in the business of supply, distribution and retailing of various types of wrist watches such as Analog, Digital, Chronograph, Designer etc. which are either custom built or general in nature.
Company distributes and do retailing of wrist watches made under Brand Name “FOCE” (the brand is owned by one of our Promoter, Mr. Manoj Sitaram Agarwal) across India which constitutes around 0.71% of the total revenue.
Company 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 constitutes around 4.41% of the total revenue.
Procurement of Watches:
Presently, company is procuring the entire requirement of watches and other products from group concern namely M/s Foce Industries, a partnership firm, which is engaged in the business of manufacturing /assembling of wrist watches at Guwahati, Assam.
Wholly owned subsidiary:
On April 06, 2021, company has incorporated a wholly owned subsidiary company namely FO Industries Private Limited in Mumbai with an object to carry on the business of manufacturing/ assembling of watches and other products and the facilities is being located at Bhiwandi, Near Mumbai.
This subsidiary was incorporated to increase supply of finished products and minimize the dependency on group concern. This subsidiary is likely to commence its business in the month of December, 2021.
Pan India presence through network of strategically located retail watch stores.
Company opened the first retail watch store in January, 2001 in Mumbai.
Company has become one of the front runners in the mid-range segment with distribution of the products through distribution channel and thus through 128 retail stores across the country with an imposing list clientele in corporate segment.
Company focuses on retailing of watch brands through strategically located stores at metros, Tier I and Tier II cities. Company’s e-commerce platform allows us to cater to a large section of consumers and ensure effective penetration of the luxury watch brands.
Becoming a pan India player through e-commerce platforms.
Company has a network of 128 stores/ Showrooms in India. Company focusus on retailing of luxury watch brands through strategically located stores at metros, Tier I and Tier II Cities.
To improve the shopping experience, company has also commenced digital platform through e-commerce portal ‘www.foceindia.com’.
Becoming Self Sufficient for Meeting Company’s Demands/ Requirements.
Company is entering into a Backward Integration and towards this, and have incorporated a wholly owned subsidiary, FO Industries Private Limited on April 06, 2021 in Mumbai with an object to manufacture/ assemble wrist watches and other products.
The facility is being located at Bhiwandi, Near Mumbai which is likely to commence its business in the month of December 2021. Company will be procuring entire requirements/ demands from this subsidiary thereafter.
Locations of Retail Outlets in India.
Company do not own any retail outlets but the products are sold through Distribution Channel and in turn sold through stores/ showrooms located in various States of India.
Revenue from Own Brands and Other Brands:
Management Team:
- Mr. Manoj Sitaram Agarwal (Designation: Managing Director)
- Mr. Utkarsh Agarwal (Designation: Executive Director)
Objectives of the Issue:
Offer for Sale: (Rs. 8.77 cr)
- The Selling Shareholders will be entitled to their respective portions of the proceeds of the Offer for Sale.Company will not receive any proceeds from the Offer for Sale.
Fresh Issue: (Rs.20.25 cr)
- To meet Working Capital Requirement.
- General Corporate Purpose.
- Meeting the Issue Expense.
Fund Utilisation:
| Particulars | Amount (Rs. Crores) |
|---|---|
| To meet Working Capital Requirement | 15.5 |
| General Corporate Expenses | 4.0 |
| Net Proceeds | 19.5 cr |
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 | 30th June 2021 |
|---|---|---|---|---|
| Revenue | 62.08 | 54.44 | 76.89 | 36.16 |
| Net Profit | 1.58 | 1.60 | 1.98 | 1.52 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Foce India Ltd | 10 | 4.98 | 45.18 | 18.66% | 26.70 |
| Timex Group India Ltd | 1 | 0.25 | 54.00 | 32.65% | 18.40 |
| KDDL Limited | 10 | 6.86 | 97.96 | 4.35% | 19.35 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 13th December 2021 |
| Issue Closes on:. | 17th December 2021 |
| Issue Price | Rs.225 |
| Face Value | Rs.10 |
| Minimum Lot | 600 shares |
| Minimum Investment | Rs.1,35,000 |
| Issue Constitutes | 26.36% |
| Issue Size | Rs.29.02 cr |
| Market Cap | Rs.110 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 9,00,000 |
| Equity Shares Offered (OFS) | 3,90,000 |
| Equity Shares Offered (Fresh + OFS) | 12,90,000 |
| Equity Shares Prior to the Issue | 39,92,925 |
| Equity Shares after the issue | 48,92,925 |
Also Read : List of Upcoming IPO’s in India.
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 4.98 | 45.18 | 18.66% | 26.70 |
| Company Contact Info: |
|---|
| FOCE INDIA LIMITED 4 Kingston Shastri Nagar, Lokhandwala Complex, Andheri West, Mumbai-400 053, Maharashtra Tel. No. 022 26349544 E-mail: office@foceindia.com Website: https://foceindia.com |
| IPO Registrar Info: |
|---|
| PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED Unit no. 9, Shiv Shakti Ind. Estate, J.R. Boricha Marg, Opp. Kasturba, Hospital Lane, Lower Parel (E), Mumbai – 400 011. Tel.No: +91 22-2301 6761/ 8261 E-mail : support@purvashare.com Website: www.purvashare.com |
| Lead Manager to the Issue: |
|---|
| MARK CORPORATE ADVISORS PRIVATE LIMITED 404/1, The Summit Business Bay, Sant Janabai Road (Service Lane), Off W. E. Highway, Vile Parle (East), Mumbai-400 057 Tel. No.: +91 22 2612 3207/08 E-Mail ID: smeipo@markcorporateadvisors.com Website : www.markcorporateadvisors.com |
