Credo Brands Marketing Limited (Mufti) IPO

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Speciality Retail

Listed On: Dec 27, 2023 at ₹ 282.35(NSE)

₹ 14840 /53 Shares

Check Allotment

Price Summary

Last Closing

200.00 (-28.57%)

52 Week High

324.80

52 Week Low

145.20

Last Update

19-Sep-2024 3:30 PM

Credo Brands Marketing Limited (Mufti) IPO Details

19 Dec, 2023

Open Date

21 Dec, 2023

Close Date

22 Dec, 2023

Allotment Date

27 Dec, 2023

Listing Date

Issue Price

₹266-280 per equity share

Face Value

₹2 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

282.35(NSE)

Listing Date

2023-12-27

Market Lot

Retail : 53 Shares (₹14,840/-)
S-HNI : 742 Shares (₹2,07,760/-)
B-HNI : 3,604 Shares (₹10,09,120/-)

Lead Manager

Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
ICICI Securities Limited
Keynote Financial Services Ltd

Issue Size

OFS : 19,634,960 shares of ₹2(aggregating up to ₹549.78 Cr)

Retail Portion

35% (Number of Retail Applications: 1,29,665 Approx),
(Number of S-HNI Applications : 1,323 Approx),
(Number of B-HNI Applications : 2,646 Approx)

Subscription

51.84 times

IPO Docs

DRHP RHP ANCHOR

Credo Brands Marketing Limited (Mufti) IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	3,926,992	2,945,244 1,963,496 981,748	6,872,236	12,744,472
Day 1 - 19-12-23 05:00 PM	0.01 x	2.08 x x	3.37 x	2.13 x
Day 2 - 20-12-23 05:00 PM	0.35 x	11.48 8.72 x 17.00 x	8.78 x	6.95 x
Day 3 - 21-12-23 05:00 PM	104.95 x	55.50 55.73 x 55.06 x	19.91 x	51.84 x

Total No. of Applications: 2,392,671 (Approx)

Retail Subscription on the basis of Applications: 18.37 times

Credo Brands Marketing Limited (Mufti) Valuations

Earnings Per Share (EPS)

₹0.54/-

P/E Ratio

23.22

RoNW

29.98%

Net Asset Value (NAV) - As on 31.03.22

₹N/A

Credo Brands Marketing Limited (Mufti) Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	574.48	476.05	416.99
Revenue	509.32	354.84	261.15
Profit After Tax	77.51	35.74	3.44

About The Company

Credo Brands Marketing Limited offers casual clothing for men with its flagship brand Mufti.

In 1998, the company's product range consisted only of shirts, T-shirts and trousers. Today, however, the company offers a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers and sweaters. These products are available in different categories, e.g. relaxed casual wear for vacations, authentic everyday wear, urban casual wear, party wear and athleisure.

The company currently operates 1,773 retail outlets across India (as of May 31, 2023). These include 379 exclusive brand stores (EBOs), 89 large format stores (LFSs) and 1,305 multi-brand stores (MBOs).

The company's reach extends from major metropolitan areas to Tier 3 cities. As of March 31, 2023, March 31, 2022, and March 31, 2021, the company is present in 582, 598 and 569 cities, respectively.

As of May 31, 2023, the company's design team consisted of 15 members. They made it possible to create and produce more than 1,348 designs in the 2023 financial year.

Credo Brands Marketing Limited (Mufti) - Promoter(s)

Pre Issue Share Holding: 68.82%

Post Issue Share Holding: 55.40%

Company Promoter(s)

Kamal Khushlani
Poonam Khushlani

Credo Brands Marketing Limited (Mufti) IPO - Issue Objectives

The objectives of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges and (ii) carry out the Offer for Sale of up to 19,634,960 Equity Shares. Further, the Company expects that the proposed listing of its Equity Shares will enhance our visibility and brand image and provide liquidity to the Shareholders and a public market for the Equity Shares in India.

Credo Brands Marketing Limited (Mufti) IPO - Anchor Investors

Mufti jeans-owner Credo Brands Marketing raises Rs 165 cr via anchor book ahead of IPO.

Integrated Core Strategies, Morgan Stanley Asia (Singapore), Nippon Life India, HSBC Mutual Fund, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, SBI General Insurance Company, JM Financial Mutual Fund, Reliance General Insurance Company, and Subhkam Ventures are the investors in the anchor book of the IPO.

Credo Brands Marketing Limited (Mufti) IPO - FAQs

Ans. Credo Brands Marketing Limited (Mufti) IPO is a Mainboard IPO. The issue is priced at ₹266-280 per equity share. The minimum order quantity is 53 Shares. The IPO opens on Dec 19, 2023, and closes on Dec 21, 2023. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Credo Brands Marketing Limited (Mufti) IPO opens on Dec 19, 2023 and closes on Dec 21, 2023.

Ans. The size of Credo Brands Marketing Limited (Mufti) IPO is OFS : 19,634,960 shares of ₹2(aggregating up to ₹549.78 Cr).

Ans. The IPO price band is set between ₹266-280 per equity share.

Ans. To apply for Credo Brands Marketing Limited (Mufti) IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Credo Brands Marketing Limited (Mufti) IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Credo Brands Marketing Limited (Mufti) IPO is Dec 22, 2023.

Ans. The Credo Brands Marketing Limited (Mufti) IPO will be listed on Dec 27, 2023.

Ans. Follow the steps to check the allotment status for Credo Brands Marketing Limited (Mufti) IPO here.