Credo Brands Marketing Limited is geared to launch its IPO, scheduled to run from December 19th to December 21st, 2023. Renowned for its specialization in men’s casual wear under the widely recognized brand name ‘Mufti’, the company is set to offer 19,634,960 shares through an Offer-for-Sale (OFS), valued at Rs. 549.78 crores.
The share allotment is slated for December 22nd, with the IPO earmarked for listing on December 27th across various stock exchanges. The price band for the IPO stands between Rs. 266 to Rs. 280 per share, while the lot size is fixed at 53 shares.
DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are spearheading this IPO as the book-running lead managers, while Link Intime India Private Limited has been appointed as the registrar.
Credo Brands Marketing Limited is a prominent retailer specializing in men's casual wear and accessories under the widely recognized brand 'Mufti'. Their product range encompasses an array of shirts, t-shirts, jeans, chinos, sweatshirts, jackets, blazers, and more, catering to diverse occasions and appealing to a youthful demographic.
Distinctively categorized into relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and athleisure, the company offers versatile collections suitable for year-round wear. Notably, Credo Brands Marketing focuses solely on retail and does not engage in clothing manufacturing.
The company boasts a robust nationwide presence, operating in major metro areas, Tier 1, Tier 2, and Tier 3 cities. With a sprawling distribution network comprising 1773 retail stores, including exclusive brand outlets (EBOs), large format stores (LFSs), and multi-brand outlets (MBOs), Credo Brands Marketing extends its reach to a wide customer base. Moreover, the company has an established online presence, further expanding its accessibility and sales channels.
Credo Brands Limited is gearing up for its IPO scheduled to be available for subscription from December 19th to December 21st, 2023. Allocation of shares is set for December 22nd, 2023, with the IPO slated for listing on the stock exchanges on December 27th, 2023.
| IPO Open Date | 19th December 2023 (Tuesday) |
| IPO Close Date | 21st December 2023 (Thursday) |
| Allotment Date | 22nd December 2023 (Friday) |
| Initiation of Refunds | 26th December 2023 (Tuesday) |
| Credit to Demat Account | 26th December 2023 (Tuesday) |
| Listing Date | 27th December 2023 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on 21st December 2023 (Thursday) |
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | 27th December 2023 |
| Face Value | Rs. 2 per share |
| Price Band | Rs. 266 to Rs. 280 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 19,634,960 shares (aggregating up to Rs. 549.78 Cr) |
| Offer for Sale | 19,634,960 shares of Rs. 2 (aggregating up to Rs. 549.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE and BSE |
| Share holding pre issue | 64,301,880 |
| Share holding post issue | 64,301,880 |
Credo Brands Marketing Limited observed a significant surge in revenue, marking a remarkable increase of 43.54%. Concurrently, the company's profit after tax (PAT) experienced substantial growth, soaring by an impressive 116.88% between the fiscal years concluding on March 31, 2023, and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 592.38 | 574.48 | 476.05 | 416.99 |
| Revenue | 119.43 | 509.32 | 354.84 | 261.15 |
| Profit After Tax | 8.58 | 77.51 | 35.74 | 3.44 |
| Net Worth | 289.88 | 281.35 | 235.73 | 192.33 |
| Reserves and Surplus | ||||
| Total Borrowing | 11.30 | 10.08 | 13.46 | 15.23 |
| Amount in Rs. Crore | ||||
What is Credo Brands IPO?
The Credo Brands (Mufti Menswear) IPO constitutes a main-board offering, presenting 19,634,960 equity shares with a face value of Rs. 2 each, accumulating to Rs. 549.78 Crores. Priced within the range of Rs. 266 to Rs. 280 per share, the minimum order quantity stands at 53 shares. The IPO subscription window is set to open on December 19, 2023, and conclude on December 21, 2023.
When Credo Brands IPO will open for apply?
The Credo Brands IPO is scheduled to open for application on December 19, 2023.
What are the minimum lot size and investment needed for participating in the Credo Brands IPO?
The Credo Brands IPO mandates a minimum lot size of 53 shares, necessitating an investment totaling Rs. 14,098.
When is Credo Brands IPO allotment date?
The allotment date for the Credo Brands IPO is expected to be finalized on Friday, December 22, 2023.
What is the Credo Brands IPO listing date?
The Credo Brands IPO is anticipated to be listed on the NSE and BSE platform with a tentative listing date set for Wednesday, December 27, 2023.
What is the price band of Credo Brands IPO?
The price band for the Credo Brands IPO is set between Rs. 266 to Rs. 280 per share.
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