Mufti Jeans IPO GMP Analysis: Credo Brands IPO GMP Today

Mufti Jeans IPO GMP (Credo Brands IPO GMP): Credo Brands Marketing Limited, popularly known as Mufti Jeans, is all set to launch its Initial Public Offering (IPO) on the NSE and BSE. This blog delves into the Grey Market Premium (GMP) of the Mufti Jeans IPO, offering insights into its potential listing price and the IPO’s background.

Also See: All IPO GMP Price Today

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Mufti Jeans IPO GMP History

As of the latest update, the Mufti Jeans IPO GMP stands at ₹80, indicating a positive sentiment among investors. With an IPO price band of ₹266 to ₹280 per share, the estimated listing price is expected to be around ₹385, which represents a potential gain of 28.57%.

Let’s take a look at the historical GMP data for Mufti Jeans: [Last Updated: 27 Dec, 2023; 10:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
27-12-2023₹280.00₹803200/44800₹360 (28.57%)
26-12-2023₹280.00₹803200/44800₹360 (28.57%)
25-12-2023₹280.00₹1074300/60200₹387 (38.21%)
24-12-2023₹280.00₹1074300/60200₹387 (38.21%)
23-12-2023₹280.00₹1074300/60200₹387 (38.21%)
22-12-2023₹280.00₹1345400/75600₹414 (47.86%)
21-12-2023₹280.00₹1345400/75600₹414 (47.86%)
20-12-2023₹280.00₹1455800/81200₹425 (51.79%)
19-12-2023₹280.00₹1455800/81200₹425 (51.79%)
18-12-2023₹280.00₹1365500/77000₹416 (48.57%)
17-12-2023₹280.00₹1204800/67200₹400 (42.86%)
16-12-2023₹280.00₹1204800/67200₹400 (42.86%)
15-12-2023₹280.00₹1235000/70000₹403 (43.93%)
14-12-2023₹280.00₹0₹280 (0%)

Also Read: Benefits and Risks of Investing in IPO

Understanding Mufti Jeans IPO GMP

The Grey Market Premium (GMP) is the price at which an IPO is traded unofficially and without regulation in the grey market before its official listing. The GMP serves as an indicator of how an IPO might perform on its listing day. A positive GMP suggests that the IPO is likely to debut at a profit, while a negative GMP indicates a potential discount at the listing.

About Mufti Jeans

Credo Brands Marketing Limited, the parent company of Mufti Jeans, was established in 1999 and has become one of the prominent indigenous brands in the Indian men’s casual wear market, particularly in the mid to upper price segment. Mufti Jeans was created with the aim of offering a unique, creative, and expressive clothing alternative for modern Indian men seeking more stylish options than the conventional offerings.

Mufti Menswear IPO

Mufti Jeans distributes its products through a widespread multi-channel network, which includes Exclusive Branded Stores (EBOs), Large Format Stores (LFSs), Multi-Branded Stores (MBOs), and online platforms, such as its website and various e-commerce marketplaces. This strategic presence ensures that Mufti’s products are easily accessible to consumers through their preferred shopping channels.

The company has recently reinvented its brand to appeal to a broader audience by offering designs suitable for various occasions in customers’ lives, from relaxed casual wear for vacations to urban casual wear, party wear, and athleisure.

Also See: Upcoming IPO in India

Strengths of Mufti Jeans IPO

  1. Strong brand equity with a diverse product range.
  2. A well-established, multi-channel pan-India distribution network.
  3. An asset-light and scalable business model.
  4. Financial stability.
  5. An experienced promoter and senior management team.

Mufti Jeans IPO Objectives

The primary objectives of the IPO are to achieve the benefits of listing the equity shares on the stock exchanges and to conduct the Offer for Sale of up to 19,634,960 Equity Shares. The company also expects that the IPO will enhance its visibility, brand image, and provide liquidity to its shareholders.

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Mufti Jeans IPO Important Dates

Here are the key dates related to the Mufti Jeans IPO:

  • IPO Open Date: 19-12-2023
  • IPO Close Date: 21-12-2023
  • Basis of Allotment Finalisation Date: 22-12-2023
  • Refunds Initiation Date: 26-12-2023
  • Credit of Shares to Demat Account: 26-12-2023
  • IPO Listing Date: 27-12-2023
Credo Brands IPO

Conclusion

Investors should exercise caution when making investment decisions based solely on the Grey Market Premium (GMP) of an IPO, as it can be highly volatile. While a positive GMP suggests a potential listing gain, it does not guarantee future performance. It’s essential to consider all factors, including the company’s fundamentals, business model, and market conditions, before investing in the Mufti Jeans IPO or any other IPO. Always consult with a financial advisor and conduct thorough research before making any investment decisions.

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