Marc Loire Fashions Limited, a stylish and contemporary women’s footwear brand, has concluded its ₹21 crore Fixed Price SME IPO with a subscription of 1.00x on the final day of bidding (July 2, 2025). The IPO drew moderate investor interest and is expected to list on BSE SME on July 7, 2025.

Company Overview

Marc Loire is a fashion-forward footwear company focused on designing and selling trendy women’s shoes. Their product range includes both traditional and contemporary designs with a focus on high-quality craftsmanship, ensuring customer satisfaction through stylish collections. The company operates under Marc Loire Fashions Limited, an Indian firm with expanding global presence.

With more than a decade of experience, the promoters—Mr. Arvind Kamboj and Mrs. Shaina Malhotra—are industry veterans with deep networks across the supply chain and strong domain knowledge. Their active involvement in day-to-day operations drives the company's sustained growth.

Marc Loire Fashions IPO Details

• IPO Type: Fixed Price Issue

• IPO Size: ₹21.00 Crores

• Fresh Issue: 21.00 lakh shares

• Offer for Sale (OFS): None

• Share Price: ₹100 per share

• Market Capitalisation (Post-IPO): ₹71.00 Crores

• IPO Lot Size: 1,200 shares

• Minimum Investment – Retail: ₹1,20,000

• Minimum Investment – HNI: ₹2,40,000 (2 lots)

• IPO Open Date: June 30, 2025

• IPO Close Date: July 2, 2025

• Allotment Date: July 3, 2025

• Tentative Listing Date: July 7, 2025

• Exchange: BSE SME

• Book Running Lead Manager: Finshore Management Services Limited

• Registrar: Maashitla Securities Private Limited

• Market Maker: JSK Securities and Services Private Limited

IPO Grey Market Premium (GMP)

The ₹10 GMP implies a 10% premium over the issue price, suggesting that the shares might list at around ₹110, subject to market sentiment and demand on listing day.

IPO Subscription Status

As of 11:00 AM on July 2, 2025, Marc Loire Fashions IPO was subscribed 1.00x, reflecting a lukewarm response. Though fully subscribed, the demand hasn't exceeded expectations, which could limit listing day euphoria.

IPO Allotment Status – How to Check

Investors can check the Marc Loire IPO allotment status on July 3, 2025, using the following steps:

1. Visit the registrar’s website: Maashitla Securities Pvt. Ltd.

2. Select “Marc Loire Fashions Limited IPO” from the list.

3. Enter Application Number, PAN, or DP ID/Client ID.

4. Submit the details to view allotment status.

The allotment can also be checked on BSE SME's official portal or via your broker’s trading platform.

Use of IPO Proceeds

Marc Loire intends to use the IPO proceeds to support expansion and enhance operational efficiency:

1. ₹526.88 Lakhs – Establishment of 15 new Exclusive Brand Outlets (EBOs)

2. ₹40.08 Lakhs – Purchase of Multi-Purpose Racks for new stores

3. ₹935.22 Lakhs – To meet Working Capital Requirements

4. ₹373.22 Lakhs – For General Corporate Purposes

5. Undisclosed Portion – Issue-related Expenses

These initiatives reflect the company’s strategic focus on scaling retail presence, increasing brand visibility, and improving inventory logistics.

Financial Performance

Marc Loire has demonstrated consistent growth in its top and bottom lines over the last three financial years:

Revenue from Operations

• FY25: ₹4,246.42 Lakhs

• FY24: ₹4,040.07 Lakhs

• FY23: ₹3,743.72 Lakhs

EBITDA

• FY25: ₹183.11 Lakhs

• FY24: ₹148.84 Lakhs

• FY23: ₹23.80 Lakhs

Profit After Tax (PAT)

• FY25: ₹470.54 Lakhs

• FY24: ₹407.69 Lakhs

• FY23: ₹65.63 Lakhs

The significant improvement in EBITDA and PAT in FY24 and FY25 demonstrates enhanced cost control and profitability management.

Key Ratios and Valuation

• Pre-Issue EPS (FY24): ₹9.41

• Post-Issue EPS (FY24): ₹6.63

• Pre-Issue P/E Ratio: 10.62x

• Post-Issue P/E Ratio: 15.09x

• Industry P/E Benchmark: ~39x

• ROCE (FY24): 60.56%

• ROE (FY24): 43.75%

• RoNW: 43.75%

These ratios reflect a company that is highly capital efficient, with strong return metrics and healthy profitability. Compared to the industry P/E, the IPO appears reasonably priced.

Expert Review and Recommendation

Pros:

• Well-established brand in a fast-growing fashion footwear segment

• Experienced promoters with strong industry linkage

• Healthy financials with rising profit margins and efficiency

• Strategic focus on retail network expansion

• Attractive valuation vs industry peers

Cons:

• Fixed Price IPO, limiting price discovery

• Just 1x subscription could indicate limited listing day frenzy

• High minimum lot size (₹1.2 lakhs) may deter small retail investors

• Competitive market dominated by large players and unorganised sellers

Final Verdict: Risky Investors May Apply for Listing Gains

Despite moderate subscription, the IPO is backed by strong financials, reasonable pricing, and a ₹10 GMP, suggesting listing day upside. Risk-tolerant investors may consider applying for potential 10% short-term listing gains. Long-term investors may choose to observe post-listing performance before entering.

Disclaimer:

This article is for educational purposes only and should not be construed as financial advice. Investors are advised to conduct their own due diligence and consult SEBI-registered financial advisors. Investing in IPOs involves market risks, and past performance is not indicative of future results. Data used here is from publicly available sources and is subject to change without notice.

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