Credo Brands Marketing Limited (Mufti Menswear) Logo

Credo Brands Marketing Limited (Mufti Menswear)

Live Updates, GMP, Subscription Data, and Financial Details

IPO Overview

Listed
Dates Dec 19 - Dec 21,2023
Price Band ₹266 - 280
Current GMP ₹280 (0.84%)
Subscription 51.85 times

IPO Details

IPO Date
December 19, 2023 to December 21, 2023
Listing Date
Wednesday, December 27, 2023
Face Value
₹2 per share
Price Band
₹266 to ₹280 per share
Lot Size
53 Shares
Total Issue Size
19,634,960 shares (aggregating up to ₹549.78 Cr)
Offer for Sale
19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr)
Issue Type
Book Built Issue IPO
Listing At
BSE, NSE
Share holding pre issue
64,301,880
Share holding post issue
64,301,880

IPO Subscription Details

Anchor Investors
1
Qualified Institutions
104.95
Non-Institutional Buyers
55.52
bNII (bids above ₹10L)
55.73
sNII (bids below ₹10L)
55.10
Retail Investors
19.94
Total **
51.85

Day Wise Sub

DayDay 1 Dec 19, 2023
QIB0.01
NII2.08
Retail3.37
Total2.13
DayDay 2 Dec 20, 2023
QIB0.35
NII11.57
Retail9.13
Total7.14
DayDay 3 Dec 21, 2023
QIB104.95
NII55.52
Retail19.94
Total51.85

Day Wise GMP

Date27-12-2023
Price280.00
GMP80 (28.57%)
Estimate List Price360
Date26-12-2023
Price280.00
GMP80 (28.57%)
Estimate List Price360
Date25-12-2023
Price280.00
GMP105 (37.5%)
Estimate List Price385
Date24-12-2023
Price280.00
GMP107 (38.21%)
Estimate List Price387
Date23-12-2023
Price280.00
GMP107 (38.21%)
Estimate List Price387
Date22-12-2023
Price280.00
GMP134 (47.86%)
Estimate List Price414
Date21-12-2023
Price280.00
GMP134 (47.86%)
Estimate List Price414
Date20-12-2023
Price280.00
GMP145 (51.79%)
Estimate List Price425
Date19-12-2023
Price280.00
GMP145 (51.79%)
Estimate List Price425
Date18-12-2023
Price280.00
GMP136 (48.57%)
Estimate List Price416
Date17-12-2023
Price280.00
GMP120 (42.86%)
Estimate List Price400
Date16-12-2023
Price280.00
GMP120 (42.86%)
Estimate List Price400
Date15-12-2023
Price280.00
GMP123 (43.93%)
Estimate List Price403
Date14-12-2023
Price280.00
GMP0 (0%)
Estimate List Price280

IPO Important Dates

IPO Open Date
Tuesday, December 19, 2023
IPO Close Date
Thursday, December 21, 2023
Basis of Allotment
Friday, December 22, 2023
Initiation of Refunds
Tuesday, December 26, 2023
Credit of Shares to Demat
Tuesday, December 26, 2023
Listing Date
Wednesday, December 27, 2023
Cut-off time for UPI mandate confirmation
5 PM on December 21, 2023

IPO Lot Size

ApplicationRetail (Min)
Lots1
Shares53
Amount₹14,840
ApplicationRetail (Max)
Lots13
Shares689
Amount₹192,920
ApplicationS-HNI (Min)
Lots14
Shares742
Amount₹207,760
ApplicationS-HNI (Max)
Lots67
Shares3,551
Amount₹994,280
ApplicationB-HNI (Min)
Lots68
Shares3,604
Amount₹1,009,120

Financial Information

Period EndedPeriod Ended
30 Jun 202330 Jun 2023
31 Mar 202331 Mar 2023
31 Mar 202231 Mar 2022
Period EndedAssets
30 Jun 2023592.38
31 Mar 2023574.48
31 Mar 2022476.05
Period EndedRevenue
30 Jun 2023119.43
31 Mar 2023509.32
31 Mar 2022354.84
Period EndedProfit After Tax
30 Jun 20238.58
31 Mar 202377.51
31 Mar 202235.74
Period EndedNet Worth
30 Jun 2023289.88
31 Mar 2023281.35
31 Mar 2022235.73
Period EndedReserves and Surplus
30 Jun 2023
31 Mar 2023
31 Mar 2022
Period EndedTotal Borrowing
30 Jun 202311.30
31 Mar 202310.08
31 Mar 202213.46

Key Performance Indicator

P/E (x)
23.22
Post P/E (x)
23.23
Market Cap (₹ Cr.)
1800.45
ROE
29.98%
ROCE
28.16%
Debt/Equity
0.65
EPS (Rs)
0.54

IPO Reservation

Investor CategoryAnchor Investor Shares Offered
Shares Offered5,890,488 (30.00%)
Maximum AllotteesNA
Investor CategoryQIB Shares Offered
Shares Offered3,926,992 (20.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered2,945,244 (15.00%)
Maximum Allottees
Investor CategorybNII > ₹10L
Shares Offered1,963,496 (10.00%)
Maximum Allottees2,646
Investor CategorysNII < ₹10L
Shares Offered981,748 (5.00%)
Maximum Allottees1,323
Investor CategoryRetail Shares Offered
Shares Offered6,872,236 (35.00%)
Maximum Allottees129,664
Investor CategoryTotal Shares Offered
Shares Offered19,634,960 (100%)
Maximum Allottees

Information about company

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.

Disclaimer

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