Credo Brands Marketing IPO Details
Issue Date
19 Dec - 21 Dec'23
Price Range
₹266 - ₹280
Lot Size
53
IPO Size
₹549.78 Cr
Credo Brands Marketing IPO Listing Details
Listing On
27 Dec'23
Issue Price
₹280
Listed Price
₹ 282.35
Retail Gain/Listing Gain
▲0.84%
Schedule of Credo Brands Marketing IPO
Start date
19/12/2023
End date
21/12/2023
Allotment of bids
Refund Initiation
Listing on exchange
27/12/2023
Credo Brands Marketing Limited IPO Issue Details
Kotak Neo
•08m 40s
Company Background
Credo Brands Marketing Limited caters to a customer’s wardrobe solution for multiple occasions in their life, dealing with offerings ranging from shirts to t-shirts, jeans to chinos, and overall all-year-round clothing.
The company is engaged in the retail sale of garments and accessories, but does not manufacture any apparel.
Let's take a look at the competitive strengths and risk factors for Credo Brands Marketing Limited:
Competitive Strengths
Strong brand equity with presence across categories
Launched in the year 1998, the brand“Mufti” is well recognised with 25 years of presence in India. Alongside the diversified product portfolio, the company launched “Muftisphere” in the year 2014, a customer loyalty programme, to provide benefits to customers for shopping, thereby increasing customer stickiness with the brand. The company currently has over 2 million customers on Muftisphere.
Multi-channel pan-India distribution network
As of September 30, 2023, the company has a pan-India presence with a reach extending from Major Metros to Tier-3 cities, including 1,807 touchpoints. This is further complemented by their online presence.
Scalable asset-light model
With a focus on creating a holistic casual wear brand, the company outsources its manufacturing operations, while all aspects of design are managed in-house. This helps them maintain an asset-light model concerning plant, property, and equipment. Further, using its economies of scale, the company drives efficient partnerships from the back-end to the front-end without a need to invest in developing manufacturing facilities.
Risk Factors
- The company is primarily concentrated on the sale of men’s casual western wear and is vulnerable to variations in demand and changes in consumer preferences.
- If the company cannot keep up with emerging trends and maintain optimum inventory level, the business is adversely affected.
- All products are sold under a single brand, ‘Mufti.’
Key Strategies
- Expand the domestic store network in existing and new cities.
- Enhancement of brand appeal through focused marketing initiatives.
- Deeper penetration to grow sales through online channels by capitalising on the increasing e-commerce demand in Indian retail.
Credo Brands Key Financials
Here are the key financials for Credo Brands Marketing Limited:
How to apply for IPO through ASBA
Kotak Neo
•00m 59 s
How To Apply for Credo Brands Marketing Ltd IPO?
Here are the steps to apply for Credo Brands Marketing Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Credo Brands Marketing IPO FAQs
The Credo Brands Marketing IPO opens for subscription from 19-12-2023 to 21-12-2023, with a total issue size of ₹549.78 Cr. The IPO price band is ₹266 to ₹280 per share with a lot size of 53. The company aims to list the shares on BSE & NSE on 27-12-2023.
The Credo Brands Marketing IPO will open for subscription on 19-12-2023 and will close on 21-12-2023 for investors.
The minimum lot size for the Credo Brands Marketing IPO is 53 equity shares, requiring a minimum investment of ₹14840 for retail investors applying in the IPO.
The price band of the Credo Brands Marketing IPO has been fixed at ₹266 to ₹280 per equity share.
You can apply for the Credo Brands Marketing IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Credo Brands Marketing IPO allotment will take place on [-].
You can check the Credo Brands Marketing IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Credo Brands Marketing shares will list on the stock exchanges on 27-12-2023.
You can find detailed information about the Credo Brands Marketing IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
The Credo Brands Marketing Limited IPO has an issue size of Rs. 549.78 crores. The IPO opens for subscription on 19th December 2023 and closes on 21st December 2023.
Credo Brands Marketing Ltd IPO will be allotted on 22nd December 2023.
Credo Brands Marketing Ltd will list on 27th December 2023.
549.78 Crore is the issue size of Credo Brands Marketing Ltd IPO.
The minimum lot size is 53 shares and the investment required is ₹14,840.
The price band of Credo Brands Marketing Ltd IPO is ₹266 to ₹280.
DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book runners for Credo Brands Marketing Ltd IPO.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about Credo Brands Marketing Limited and its IPO from the company’s red herring prospectus (RHP) here:
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