Marc Loire Fashions Limited, a premium Indian footwear brand under the label Marc Loire, is making a splash in the SME IPO market with its ₹21 crore fixed price issue. Known for its fashion-forward women’s footwear, Marc Loire aims to capitalize on India's growing appetite for stylish, high-quality shoes, combining craftsmanship with comfort and design.

The Marc Loire Fashions IPO opened for public subscription on June 30, 2025, and will close on July 2, 2025. This IPO consists entirely of a fresh issue of 21 lakh shares at a fixed price of ₹100 per equity share, valuing the company at a market capitalisation of ₹71 crore. The lot size is 1,200 shares, requiring a minimum retail investment of ₹1,20,000 and ₹2,40,000 for HNIs (two lots).

FINSHORE MANAGEMENT SERVICES LIMITED is managing the IPO as the book running lead manager, while MAASHITLA SECURITIES PRIVATE LIMITED is the registrar for the issue. JSK Securities and Services Pvt Ltd has been appointed as the market maker, supporting post-listing liquidity on the BSE SME platform.

IPO Subscription and Grey Market Premium (GMP)

As per subscription data at 11:00 AM on July 1, 2025, the Marc Loire Fashions IPO has been subscribed 0.37 times, indicating moderate demand during the early stages of the offer. With one more day left, market participants are closely watching how the subscription progresses.

The Grey Market Premium (GMP) for Marc Loire Fashions stood at ₹10, hinting at a potential listing price of ₹110—a 10% premium over the issue price. However, investors must treat GMP as indicative only, as these premiums depend heavily on unofficial market demand and supply, which are not regulated or recommended for making firm investment decisions.

IPO Allotment and Listing Timeline

The allotment of shares is expected to be finalized on July 3, 2025 (Thursday). Investors can check the allotment status online through the registrar’s portal by selecting Marc Loire Fashions Limited IPO and entering PAN, application number, or DP Client ID. The shares are scheduled to be listed on the BSE SME platform on July 7, 2025 (Monday).

Use of IPO Proceeds

The net proceeds from the IPO will be deployed strategically to support business expansion and operational needs. The breakup includes:

• ₹526.88 lakhs for expanding the retail network by launching 15 new Exclusive Brand Outlets (EBOs)

• ₹40.08 lakhs for capital expenditure related to the purchase of multi-purpose racks

• ₹935.22 lakhs for working capital requirements

• A portion for issue expenses

• ₹373.22 lakhs for general corporate purposes

This funding will strengthen the company's footprint in the Indian fashion footwear market, enabling better brand visibility, inventory management, and sales operations.

Company Overview and Promoter Experience

Marc Loire has built a niche in the women's fashion footwear segment with a product line that is diverse, trend-driven, and tailored to the modern Indian woman. The brand boasts precision craftsmanship, using quality materials and contemporary design elements, enhancing its appeal to urban consumers.

The company is promoted by Mr. Arvind Kamboj and Mrs. Shaina Malhotra, both of whom bring over 10 years of experience in the footwear industry. Their deep understanding of supply chains, market demands, and vendor networks provides the company with a strong operational backbone. Their active involvement in the business ensures agile decision-making and sustained growth momentum.

Financial Performance Overview

Marc Loire Fashions has shown steady growth over the past three fiscal years. Key financial highlights include:

• Revenue from operations:

  • FY25: ₹4,246.42 lakh

  • FY24: ₹4,040.07 lakh

  • FY23: ₹3,743.72 lakh

• EBITDA:

  • FY25: ₹183.11 lakh

  • FY24: ₹148.84 lakh

  • FY23: ₹23.80 lakh

• Profit After Tax (PAT):

  • FY25: ₹470.54 lakh

  • FY24: ₹407.69 lakh

  • FY23: ₹65.63 lakh

The numbers indicate not only topline growth but also a significant improvement in profitability, driven by better margins and cost efficiency.

Valuation and Key Metrics

From a valuation perspective, the IPO appears fairly priced compared to the broader market and peers in the SME segment:

• Pre-issue EPS (FY24): ₹9.41

• Post-issue EPS: ₹6.63

• Pre-issue P/E: 10.62x

• Post-issue P/E: 15.09x

• Industry P/E average: 39x

• ROCE (FY24): 60.56%

• ROE (FY24): 43.75%

• Return on Net Worth (RoNW): 43.75%

These figures reflect strong capital efficiency and shareholder returns, which are significantly higher than many peers, making it an attractive proposition for high-risk, short-term investors.

Should You Apply? Analyst View

While the IPO has not yet received a full subscription as of the second day, the GMP of ₹10 and strong fundamentals suggest positive sentiment in the unlisted space. With a relatively low market capitalization of ₹71 crore and a niche presence in the women’s fashion footwear segment, Marc Loire could benefit from first-mover advantage in the listed SME space.

However, investors should also be mindful of:

• SME liquidity constraints

• Market sentiment near listing

• Subscription levels on the final day

High-risk investors seeking listing gains may consider applying. Long-term investors should wait for listing performance and Q1FY26 results before committing further capital.

Final Verdict

The Marc Loire Fashions IPO is an interesting play on the rising Indian fashion retail space, especially in women’s footwear. With strong ROE, moderate pricing, and a clear growth strategy, it appeals to short-term investors eyeing listing gains as reflected by the 10% GMP.

As always, investment decisions should be made after consulting a financial advisor and assessing personal risk tolerance.

Disclaimer:
This article is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks, and returns are not guaranteed. Readers should perform their own due diligence or consult certified professionals before investing.

The Upcoming IPOs in this week and coming weeks are Anthem Biosciences, Chemkart India, Meta Infotech, Happy Square Outsourcing Services, Cryogenic OGS, Crizac, .

The Current active IPO are Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions, Neetu Yoshi, Adcounty Media India.

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