Foce India Limited IPO SME IPO Issue opens Dec 13, 2021
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.
Objects of the Issue:
- To meet Working Capital Requirement
- General Corporate Purpose
- Meeting the Issue Expense
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
Company Promoters:
Mr. Manoj Sitaram Agarwal, Mrs. Anita agarwal, Mrs. Parmeshwari Agarwal are the company promoters.
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