The Credo Brands IPO date has been confirmed from December 19, 2023 and closes on December 21, 2023. Read the post to learn about Credo Brands Marketing IPO GMP.
Using an IPO, Credo Brands is seeking to raise Rs 549.78 crores. Its price band is set at ₹266 to ₹280 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,840. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹207,760, and for bNII, it is 68 lots (3,604 shares), amounting to ₹1,009,120.
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Key Details Of Credo Brands Marketing IPO:
Bidding Dates
December 19-21
Price Range
₹266 to ₹280 per share
Face Value
₹2 per share
GMP
₹123
Credo Brands IPO GMP
The Credo Brands Limited IPO GMP is ₹123.
Credo Brands IPO Overview
Mufti Menswear’s initial public offering (IPO) begins on December 19, 2023 and finishes on December 21, 2023. The Mufti Menswear IPO allotment is expected to be completed on Friday, December 22, 2023. Credo Brands Limited IPO GMP Today is ₹123. Mufti Menswear IPO will be listed on the BSE and NSE, with a tentative listing date of Wednesday, December 27, 2023. Mufti Menswear’s initial public offering pricing range is set at $266 to $280 per share. An application requires a minimum lot size of 53 Shares. Retail investors must make a minimum investment of $14,840. The minimum lot size investment for sNII is 14 lots (742 shares), which amounts to 207,760, while the minimum lot size investment for bNII is 68 lots (3,604 shares), which amounts to 1,009,120.
The items on the other hand are distributed through a structurally diversified multichannel distribution network (MDNs), which takes considerable time as it contains not just exclusive brand outlets (EBOs) but also large format stores (LFSs) and multi-brand outlets (MBOs). In addition to these, they can also be obtained by way of the Internet, where that and other shopping sites are provided. This well-planned multichannel presence guarantees that products from many categories are easily accessible via consumers’ chosen buying channels.
Credo Brands IPO Details
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹266 to ₹280 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 19,634,960 shares (aggregating up to ₹549.78 Cr) |
| Offer for Sale | 19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 64,301,880 |
| Share holding post issue | 64,301,880 |
Credo Brands IPO Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 244.83 | 341.17 | 498.18 |
| Expenses | 257.15 | 307.00 | 405.51 |
| Net income | 3.44 | 35.74 | 77.51 |
| Margin (%) | 1.41 | 10.48 | 15.56 |
Credo Brands IPO Dates & Listing Performance
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
Company Profile
Credo Brands Marketing Limited that views itself as an apparel firm for men, established in 1999 sells casual apparel under the “Mufti” brand. Its product line in 1998 covers only and only the shirts, T-shirts, and pants. Now the brand is involved in sales of numerous products both warm and cold, such as sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters. Different clothing is labelled as relaxation casual clothes during holidays, self-origins real daily, metropolitan casual clothes, party clothes, and athleisure respectively. As of May 31, 2023, the company operated 1,773 retail stores in India. 379 are exclusive brand stores (EBOs), 89 are large
format stores (LFSs), and 1,305 are multi-brand stores (MBOs).
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 022 4918 6060 |
| Email ID | [email protected] |
| Website | linkintime.co.in |
Contact Details
| Name | CREDO BRANDS MARKETING LIMITED |
| Phone number | +91 22 6141 7200 |
| Email ID | [email protected] |
| Website | credobrands.in |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- We need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Credo Brands IPO FAQs
What is Mufti Menswear IPO size?
The Mufti Menswear IPO size is 19634960 Equity Shares of ₹2 aggregating up to ₹549.78 Cr.
When will Mufti Menswear IPO allot?
The Mufti Menswear IPO allot status will be available online on December 22, 2023.
When is Mufti Menswear IPO listing?
The shares of the Mufti Menswear IPO are scheduled to be listed on December 22, 2023 at BSE, NSE. The exchange will announce the exact date of listing.
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