Credo Brands Marketing Limited IPO (Mufti Menswear IPO) Price, Detail, GMP, Opening Date, Financial Report and More
Credo Brands Marketing Limited, established in 1999, is known for its men’s casual clothing brand “Mufti.”
Back in 1998, Mufti mainly offered shirts, T-shirts, and trousers. Now, the brand has expanded its range to include a variety of products such as sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters. These items are designed for different occasions, like relaxed vacation wear, everyday authentic styles, urban casual looks, party wear, and athleisure.
As of May 31, 2023, Mufti operates 1,773 retail outlets across India. These include 379 exclusive brand stores, 89 large format stores, and 1,305 multi-brand stores. The brand is accessible not only in major cities but also in Tier 3 cities. In March 2023, Mufti was present in 582 cities, compared to 598 in March 2022 and 569 in March 2021.
As of May 31, 2023, Mufti’s design team comprises 15 members who were responsible for creating over 1,348 designs during the 2023 financial year.
Key Points Regarding Credo Brands Marketing Limited IPO
| IPO Date | December 19, 2023 to December 21, 2023 |
| Price Band | 266 Rs to 280 Rs per share |
| Face Value | Rs 2 per share |
| Lot Size | 53 Shares |
| Total Issue Size | N/A |
| Listing Date | 27 December 2023, Wednesday as per the schedule |
| Listing At | BSE, NSE |
Mufti Menswear IPO Overview
- Book built issue totaling Rs 549.78 crores.
- Entirely an offer for sale of 1.96 crore shares.
Subscription Details
- Subscription opens on December 19, 2023, closing on December 21, 2023.
- Allotment expected on Friday, December 22, 2023.
Listing Information
- Tentative listing date set for Wednesday, December 27, 2023, on BSE and NSE.
IPO Price Band
- Price band: ₹266 to ₹280 per share.
Lot Size and Investment
- Minimum lot size for an application: 53 shares.
- Retail investors require a minimum investment of ₹14,840.
Investment Requirements for Qualified Investors:
- sNII (Non-Institutional Investors): 14 lots (742 shares), totaling ₹207,760.
- bNII (Non-Institutional Investors): 68 lots (3,604 shares), totaling ₹1,009,120.
Credo Brands Marketing Limited IPO (Mufti Menswear IPO) Financials
Here’s a quick look at Credo Brands Marketing Limited financial breakdown in terms of money (in ₹ crores )
| 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 |
| Total Borrowing | 11.30 | 10.08 | 13.46 | 15.23 |
Credo Brands Marketing Limited Contact Details
Credo Brands Marketing Limited
B-8, MIDC Central Road, Marol,
Next to MIDC Police Station
Andheri (E), Mumbai – 400093,
Phone: +91 22 6141 7200
Email: [email protected]
Website: https://www.credobrands.in/
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