Bookbuilding IPO | ₹550 Cr | Listed at BSE, NSE | Tue, Dec 19, 2023 - Thu, Dec 21, 2023
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 per share. The lot size for an application is 53. The minimum amount of investment required by an retail is ₹14,840 (53 shares) (based on upper price). 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 Open
Tue, Dec 19, 2023
IPO Close
Thu, Dec 21, 2023
Issue Price
₹280 per share
Market Cap (Pre-IPO)
₹1,800.45 Cr
| IPO Date | 19 to 21 Dec, 2023 |
| Listed on | Wed, Dec 27, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹266 to ₹280 |
| Issue Price | ₹280 per share |
| Lot Size | 53 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,96,34,960 shares (agg. up to ₹550 Cr) |
| Offer for Sale | 1,96,34,960 shares of ₹2 (agg. up to ₹550 Cr) |
| Share Holding Post Issue | 6,43,01,880 shares |
| BSE Script Code / NSE Symbol | 544058 / MUFTI |
| ISIN | INE220Q01020 |
Credo Brands Marketing 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 53 shares and in multiples thereof.
| 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 |
Credo Brands Marketing IPO raises ₹164.93 crore from anchor investors. Credo Brands Marketing IPO Anchor bid date is December 18, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 18, 2023 |
| Shares Offered | 58,90,488 |
| Anchor Portion (₹ Cr.) | 164.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jan 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Mar 21, 2024 |
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.
| 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 |
| Total Borrowing | 11.30 | 10.08 | 13.46 | 15.23 |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROE | 29.98% |
| ROCE | 28.16% |
| Debt/Equity | 0.65 |
| RoNW | 29.98% |
| PAT Margin | 15.56% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.54 | |
| P/E (x) | 23.22 | 23.23 |
| Promoter Holding | 66.66% | 53.66% |
| Market Cap | ₹1,800.45 Cr. |
The Mufti Menswear IPO is subscribed 51.85 times on December 21, 2023 7:02:00 PM (Day 3). The public issue subscribed 19.94 times in the retail category, 104.95 times in the QIB category, and 55.52 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 104.95 | 39,26,992 | 41,21,37,752 |
| NII | 55.52 | 29,45,244 | 16,35,06,325 |
| bNII (bids above ₹10L) | 55.73 | 19,63,496 | 10,94,16,751 |
| sNII (bids below ₹10L) | 55.1 | 9,81,748 | 5,40,89,574 |
| Retail | 19.94 | 68,72,236 | 13,70,58,530 |
| Total | 51.85 | 1,37,44,472 | 71,27,02,607 |
Total Application : 23,92,774
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers fees and commissions (including any underwriting commission, brokerage and selling commission) | 1.95 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs | 0.26 |
| 3 | Fees payable to Registrar to the Offer | 0.03 |
| 4 | Regulatory filing fees, including SEBI, BSE and NSE fees, book building software fees, listing fees, etc. | 0.58 |
| 5 | Printing and stationery | 0.15 |
| 6 | Fee payable to legal counsels | 0.31 |
| 7 | Advertising and marketing | 0.51 |
| 8 | Other advisors to the Offer (including Auditors, Independent Chartered Accountants, Practising Company Secretaries) who have assisted in providing legal, financial and secretarial advice to our Company | 0.24 |
| 9 | Miscellaneous | 0.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹280.00 | ₹280.00 |
| Open | ₹282.00 | ₹282.35 |
| Low | ₹262.05 | ₹261.60 |
| High | ₹324.55 | ₹324.80 |
| Last Trade | ₹312.50 | ₹312.20 |
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 ₹550 Crores. The issue is priced at ₹280 per share. The minimum order quantity is 53.
The IPO opens on Tue, Dec 19, 2023, and closes on Thu, Dec 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 Tue, Dec 19, 2023 and closes on Thu, Dec 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 Tue, Dec 26, 2023. Check the Credo Brands Marketing IPO allotment status.
The Credo Brands Marketing IPO listing date is on Wed, Dec 27, 2023.
