New Delhi, Viral Sach (HS): Marc Loire Fashions, a women’s footwear manufacturer, has disappointed IPO investors with a weak initial listing. Shares were issued at ₹100 but debuted on the BSE SME platform at a 20 percent discount, priced at ₹80. This led to selling pressure, with the shares quickly plummeting to the lower circuit level of ₹76, resulting in a 24 percent loss for IPO investors on the first trading day.
The company had a ₹21 crore IPO open for subscription from June 30 to July 2, with an overall subscription of 2.61 times. The non-institutional investors’ portion was subscribed 1.60 times, while retail investors’ reserve saw a subscription of 3.61 times.
A total of 2.1 million new shares with a ₹10 face value were issued, with proceeds intended for opening outlets, purchasing racks, meeting working capital needs, and corporate purposes. Despite minor fluctuations, the company reported a net profit increase from ₹6.6 million in FY 2022-23 to ₹47.1 million in FY 2024-25, with revenue reaching ₹424.6 million and a CAGR exceeding 6 percent.
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