Foce India Ltd Company Summary

Foce India Ltd Summary

Foce India Limited was originally incorporated as Heighten Trading Company Private Limited on January 10, 2001 with the Registrar of Companies, Mumbai. Thereafter, Company name was changed from Heighten Trading Company Private Limited to Foce India Private Limited. The fresh Certificate of Incorporation was issued by the Registrar of Companies, Mumbai dated April 20, 2021. The status of Company got changed to Public Limited and the name of Company was changed to Foce India Limited on June 15, 2021. Promoter, Mr. Manoj Sitaram Agarwal is the guiding force behind the growth of the Company.The Company is mainly engaged in the business of marketing of various types of wrist watches such as Analog, Digital, Chronograph, Designer etc., which are either customer built or general in nature under the brand name FOCE. The Company procure watches from group concern namely M/s Foce Industries a Partnership Firm, which is engaged in the business of assembling of watches at Guwahati, Assam. The Company is also involved in the business of corporate gifting such as Time Piece, wall Clocks, Belts, Ties, Wallets, pen, goggles, ornamental packaging boxes for watch etc, selling of watches and other products under royalty brands.The Company have a strong customer profile across India and provide after sales service to their satisfaction. The Company opened first retail watch store in January, 2001 in Mumbai. It 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. The Company focus on retailing of watch brands through strategically located stores at metros, Tier I and Tier II cities. The e-commerce platform allows to cater to a large section of consumers and ensure effective penetration of the luxury watch brands. Since the Company offer e-commerce platform, it helps customers to select desired watch by using filter. Creation of watch dials involves much process, but Company assembles the dial taking all components from different suppliers and thereafter print the details of brand name Foce graduation marking on dial. The Company decorate the dials with diamond with specific order of the customers. Apart from this, Company is engaged in dealing in variety of ornamental watches specifically designed for ladies of various groups. Each stage of assembling watch components is monitored by the quality assurance team to ensure conformity with Companys strict quality standards. Once the watch components are processed through all the activities, it will be inspected by the inspection department and then sent to FQC department for final quality check. Before the watch components are dispatched to customer, the Company send the final product for a third party inspection both visual and dimensional inspection according to the sampling plan. After the inspection stage, the product will be sent for packing and dispatch. The design and development process include concept design followed by trend prevailing in the segment. The Company use software for freehand sketches for designing. To improve the shopping experience, the Company also commenced digital platform through e-commerce portal www.foceindia.com and others. This platform facilitates a seamless access to a variety of luxury watches it retail. This portal allows to cater to customers which are not based in location. The online platform helps Company generating the leads for sales at store. The Company intend to develop digital platform to provide customers e-commerce and online retail business experience.The Company launched IPO consisting of 12,90,000 Equity Shares by raising fund aggregating to Rs 29.03 Crore comprising a fresh issue of 9,00,000 equity shares aggregating to Rs 20.25 Crore and an Offer for Sale of 3,90,000 equity shares aggregating to Rs 8.78 Crore in December, 2021.