Credo Brands Marketing Limited owns the denim brand Mufti. Kamal Khushlani launched Mufti 25 years ago with the purpose of revolutionizing menswear. They are one of the largest domestic brands offering premium and mid-premium men’s casual wear in India in terms of market share in fiscal 2022.
They began with shirts and pants in 1998 and have evolved tremendously since then. They currently offer a variety of products, such as t-shirts, shirts, jeans, chinos, jackets, cargo, and so on, catering to year-round wear. Credo Brands Marketing Limited has a long history of working with its manufacturing, distribution, and supply network partners. As of March 31, 2023, the company had a network of more than 45 production partners and 45 fabric and accessory suppliers. Birla Century, Arvind Limited, RSWM Limited, and NSL Textiles Limited are some of the suppliers.
Credo Brands Marketing Limited IPO Objectives
The objectives of Credo Brands Marketing Limited’s IPO are listed below:
- To achieve the benefits of listing equity shares on the stock exchanges.
- To carry out the offer for sale of up to 19,634,960 equity shares by the selling shareholders.
Credo Brands Marketing Limited IPO Date
- Credo Brands Marketing Limited’s IPO open and close dates are not yet announced.
Credo Brands Marketing Limited IPO Price Band
- Credo Brands Marketing Limited’s IPO is an offer for sale. The issue comprises 19,634,960 shares. The pricing range has not yet been announced.
Credo Brands Marketing Limited IPO Lot Size
- Credo Brands Marketing Limited’s IPO lot size has not yet been announced.
Peer Details
Credo Brands Marketing faces competition from publicly listed companies like Aditya Birla Fashion and Retail Limited, Go Fashion (India) Limited, Arvind Fashions Limited and Kewal Kiran Clothing Limited which are operating in the same line of business.
Credo Brands Marketing Company Financials
| Financial year | Period ending on March 31, 2023 | Period ending on March 31, 2022 | Period ending on March 31, 2021 |
|---|---|---|---|
| Revenue from Operations | 4,981.82 | 3,411.72 | 2,448.26 |
| Profit After Tax (PAT) | 775.14 | 357.40 | 34.41 |
| Net Worth | 2,813.51 | 2,357.26 | 1,923.33 |
| Earnings Per Share | 12.06 | 5.60 | 0.54 |
| Total Borrowings | 100.79 | 134.64 | 152.27 |
Strengths
- In 2014, Credo Brands Marketing Limited launched a customer loyalty program called Muftisphere, and they have over 2 million customers who have signed up for the loyalty program.
- Their social media presence is also high; they have 3.4 million followers on Facebook and 1,34,000 followers on Instagram as of June 30, 2023.
- The company’s revenue from operations almost doubled from ₹2,448.26 million on March 31, 2021, to ₹4,981.82 million on March 31, 2023.
- The company’s profit after tax also rose highly, from ₹34.41 million on March 31, 2021, to ₹775.14 million on March 31, 2023.
Risks
- The company is dependent on the continual purchases of its products and regular payments from the franchise stores, both in the long and short term.
- The pricing pressure from competitors can impact the prices set by the company.
- Though the company has partnered with manufacturers and suppliers for a long time, they don’t hold any definitive agreements with them.
Credo Brands Marketing Ltd IPO FAQs
Q1. What is Credo Brands Marketing Limited’s IPO?
Ans. The Credo Brands Marketing Ltd IPO is an Offer for Sale. The issue comprises 19,634,960 shares. The price band and bidding dates are not yet announced.
Q2. What is Credo Brands Marketing Limited’s IPO?
Ans. The Credo Brands Marketing Ltd IPO is an Offer for Sale. The issue comprises 19,634,960 shares. The price band and bidding dates are not yet announced.
Q3. When will Credo Brands Marketing Limited’s IPO open for subscription?
Ans. Not yet announced.
Q4. What minimum lot size can retail investors subscribe to?
Ans. Not yet announced.
Q5. When will Credo Brands Marketing Limited list on exchanges?
Ans. Not yet announced.
Q6. What would be the listing gains on the Credo Brands Marketing Limited IPO?
Ans. Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is not yet announced for Credo Brands Marketing Ltd.
Q7. I have finished the application process for the Credo Brands Marketing Limited IPO, but the funds still need to be debited. What is the reason?
Ans. The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
Q8. How do I approve the UPI mandate request for Credo Brands Marketing Limited’s IPO?
Ans. You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
Q9. Can I submit more than one application for the public issue of Credo Brands Marketing Limited using one PAN?
Ans. You can submit only one application using your PAN card.
