Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Credo Brands Marketing IPO is a book build issue of ₹549.78 crores. The issue is entirely an offer for sale of 1.96 crore shares of ₹549.78 crore.
Credo Brands Marketing IPO bidding started from Dec 19, 2023 and ended on Dec 21, 2023. The allotment for Credo Brands Marketing IPO was finalized on Dec 22, 2023. The shares got listed on BSE, NSE on Dec 27, 2023.
Credo Brands Marketing IPO price band is set at ₹280.00 per share . The lot size for an application is 53. The minimum amount of investment required by an retail is ₹14,098 (53 shares). The lot size investment for sNII is 14 lots (742 shares), amounting to ₹2,07,760, and for bNII, it is 68 lots (3,604 shares), amounting to ₹10,09,120.
Dam Capital Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Credo Brands Marketing IPO RHP for detailed Information.
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | December 27, 2023 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹266 to ₹280 per share |
| Issue Price Final | ₹280 per share |
| Lot Size | 53 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 1,96,34,960 shares (aggregating up to ₹549.78 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 6,43,01,880 shares |
Mufti Menswear IPO offers total 1,96,34,960 shares. Out of which 98,17,480 (50.00%) allocated to QIB, 39,26,992 (20.00%) allocated to QIB, 29,45,244 (15.00%) allocated to NII, 68,72,236 (35.00%) allocated to RII and 58,90,488 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 98,17,480 (50.00%) | NA |
| − Anchor Investor Shares Offered | 58,90,488 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 39,26,992 (20.00%) | NA |
| NII (HNI) Shares Offered | 29,45,244 (15.00%) | NA |
| − bNII > ₹10L | 19,63,496 (10.00%) | 2,646 |
| − sNII < ₹10L | 9,81,748 (5.00%) | 1,323 |
| Retail Shares Offered | 68,72,236 (35.00%) | 1,29,664 |
| Total Shares Offered | 1,96,34,960 (100.00%) |
Credo Brands Marketing IPO raises ₹164.93 crore from anchor investors. Credo Brands Marketing IPO Anchor bid date is December 18, 2023. Credo Brands Marketing IPO Anchor Investors list
| Bid Date | December 18, 2023 |
| Shares Offered | 58,90,488 |
| Anchor Portion Size (In Cr.) | 164.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 21, 2024 |
Credo Brands Marketing IPO opens on December 19, 2023, and closes on December 21, 2023.
| IPO Open Date | Tue, Dec 19, 2023 |
| IPO Close Date | Thu, Dec 21, 2023 |
| Tentative Allotment | Fri, Dec 22, 2023 |
| Initiation of Refunds | Tue, Dec 26, 2023 |
| Credit of Shares to Demat | Tue, Dec 26, 2023 |
| Tentative Listing Date | Wed, Dec 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 21, 2023 |
Investors can bid for a minimum of 53 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,840 |
| Retail (Max) | 13 | 689 | ₹1,92,920 |
| S-HNI (Min) | 14 | 742 | ₹2,07,760 |
| S-HNI (Max) | 67 | 3,551 | ₹9,94,280 |
| B-HNI (Min) | 68 | 3,604 | ₹10,09,120 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1999, 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's revenue increased by 43.54% and profit after tax (PAT) rose by 116.88% between the financial year ending with 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 |
| Total Income | 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 ₹ Crore | ||||
The market capitalization of Credo Brands Marketing IPO is ₹1800.45 Cr.
| KPI | Values |
|---|---|
| ROE | 29.98% |
| ROCE | 28.16% |
| Debt/Equity | 0.65 |
| RoNW | 29.98% |
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.
[Dilip Davda] The company is operating in a highly competitive segment and has no own manufacturing unit, but deals of third party contract model. After posting robust growth in bottom lines for FY22 and FY23, it marked decline as hinted by Q1-FY24 performance. Based on annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | December 27, 2023 |
| BSE Script Code | 544058 |
| NSE Symbol | MUFTI |
| ISIN | INE220Q01020 |
| Final Issue Price | ₹280 per share |
| BSE Listing Group | B |
Credo Brands Marketing Ltd.
B-8, MIDC Central Road, Marol,
Next to MIDC Police Station
Andheri (E), Mumbai - 400093,
Andheri, Maharashtra
Phone: +91 22 6141 7200
Email: investorrelations@mufti.in
Website: https://www.credobrands.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: credobrands.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Credo Brands Marketing IPO is a main-board IPO of 1,96,34,960 equity shares of the face value of ₹2 aggregating up to ₹549.78 Crores. The issue is priced at ₹280 per share. The minimum order quantity is 53.
The IPO opens on December 19, 2023, and closes on December 21, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Credo Brands Marketing IPO using UPI as a payment gateway. Zerodha customers can apply in Credo Brands Marketing IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Credo Brands Marketing IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Credo Brands Marketing IPO opens on December 19, 2023 and closes on December 21, 2023.
Credo Brands Marketing IPO lot size is 53, and the minimum amount required for application is ₹14,840.
You can apply in Credo Brands Marketing IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Credo Brands Marketing IPO will be done on Friday, December 22, 2023, and the allotted shares will be credited to your demat account by Tuesday, December 26, 2023. Check the Credo Brands Marketing IPO allotment status.
The Credo Brands Marketing IPO listing date is on Wednesday, December 27, 2023.
Useful Articles
RHP