Credo Brands IPO (Mufti Menswear IPO): Credo Brands Marketing Limited IPO Details

Credo Brands IPO, with its flagship brand “Mufti“, is set to make waves in the Indian stock market. With a book-built issue of Rs 549.78 crores, this IPO is generating significant interest among investors. In this blog, we will provide a comprehensive analysis of the Mufti Menswear IPO, covering its key details, objectives, financial performance, and more.

Also See: Mufti Menswear IPO GMP

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IPO Details:

IPO NameCredo Brands IPO (Mufti Menswear IPO)
IPO DateDecember 19, 2023, to December 21, 2023
Basis of AllotmentDecember 22, 2023
Listing DateDecember 27, 2023
Face Value₹2 per share
Price Band₹266 to ₹280 per share
Lot Size53 Shares
Total Issue Size19,634,960 shares (aggregating up to ₹549.78 Cr)
Offer for Sale19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue64,301,880 shares
Shareholding Post-Issue64,301,880 shares

Also Read: Upcoming IPO in India

Mufti Menswear IPO Reservation:

  • QIB Shares Offered: Not more than 50% of the Net Issue
  • Retail Shares Offered: Not less than 35% of the Net Issue
  • NII (HNI) Shares Offered: Not less than 15% of the Net Issue

Mufti Menswear IPO Lot Size:

Investors can bid for a minimum of 53 shares and in multiples thereof. The table below illustrates the minimum and maximum investments for retail investors, S-HNI, and B-HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)153₹14,840
Retail (Max)13689₹192,920
S-HNI (Min)14742₹207,760
S-HNI (Max)673,551₹994,280
B-HNI (Min)683,604₹1,009,120

Also Read: All IPO GMP Price Today

Mufti Menswear IPO Promoter Holding:

The Promoters of Credo Brands Marketing Limited are Kamal Khushlani and Poonam Khushlani.

  • Share Holding Pre-Issue: 66.66%
  • Share Holding Post-Issue: 53.66%

Mufti Menswear IPO Objectives:

The objectives of the Offer are:

  1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
  2. To carry out the Offer for Sale of up to 19,634,960 Equity Shares.

Additionally, the Company expects that the proposed listing of its Equity Shares will enhance its visibility and brand image and provide liquidity to the Shareholders, along with creating a public market for the Equity Shares in India.

Also Read: Kross Ltd Files ₹500 Crore IPO with SEBI, Eyes Capital Market Expansion; Check Details

Financial Performance:

Credo Brands Marketing Limited, the company behind Mufti, has demonstrated strong financial growth. Between the financial years ending on March 31, 2023, and March 31, 2022:

  • Revenue increased by 43.54%
  • Profit after tax (PAT) rose by 116.88%
eriod Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets592.38574.48476.05416.99
Revenue119.43509.32354.84261.15
Profit After Tax8.5877.5135.743.44
Net Worth289.88281.35235.73192.33
Reserves and Surplus
Total Borrowing11.3010.0813.4615.23
Amount in ₹ Crore

Also Read: When Can a Company Go for IPO in India

About Credo Brands Marketing Limited:

Incorporated in 1999, Credo Brands Marketing Limited is a leading player in the Indian casual clothing market for men, primarily through its flagship brand, “Mufti.” Initially offering a limited product range, the company has since expanded its portfolio to include a wide range of clothing items, catering to various categories such as relaxed casual wear, everyday wear, urban casual wear, party wear, and athleisure.

Mufti Menswear IPO

As of May 31, 2023, the company operates 1,773 retail outlets across India, including exclusive brand stores (EBOs), large format stores (LFSs), and multi-brand stores (MBOs). This extensive reach covers major metropolitan areas as well as Tier 3 cities.

Also Read: What is an IPO?- Why Companies Go Public

Key Performance Indicators:

  • P/E (x): 23.22
  • ROE: 29.98%
  • ROCE: 28.16%
  • Debt/Equity: 0.65
  • EPS (Rs): 0.54
  • RoNW: 29.98%

Mufti Menswear IPO Registrar and Lead Manager(s):

Registrar:

Lead Managers:

  • Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
  • ICICI Securities Limited
  • Keynote Financial Services Ltd

Mufti Menswear IPO Timeline (Tentative Schedule):

  • IPO opens on December 19, 2023, and closes on December 21, 2023.
  • Basis of Allotment: December 22, 2023
  • Initiation of Refunds: December 26, 2023
  • Credit of Shares to Demat: December 26, 2023
  • Listing Date: December 27, 2023
  • Cut-off time for UPI mandate confirmation: 5 PM on December 21, 2023
Mufti Menswear IPO

Conclusion:

The Credo Brands IPO (Mufti Menswear IPO) offers investors an opportunity to participate in a well-established company with a strong presence in the Indian men’s casual clothing market. With robust financial performance and an extensive retail network, Mufti is poised for growth. As always, potential investors should carefully analyze the prospectus and consult with financial advisors before making investment decisions.

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