Mufti Menswear IPO Price: ₹266 - ₹280
IPO Date Range: Dec 19, 2023 - Dec 21, 2023
Established in 1999, Credo Brands Marketing Limited introduces stylish casual men's clothing through its flagship brand, "Mufti".
The company initially revolved around a limited spectrum of offerings: shirts, T-shirts, and trousers. However, as time unfurled its wings, the company embarked on an evolutionary path. Presently, its product portfolio is a testament to its growth, encompassing an expansive array.
Alongside the classic ensemble of sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters, the repertoire extends further, embracing diverse categories that cater to an individual's every mood and occasion. From relaxed vacation wear that breathes an air of ease to authentic, versatile day-to-day wear, urban casual ensembles, attention-grabbing party outfits, and the fusion of comfort and style in athleisure—this expansive collection now mirrors its patrons' diverse preferences and lifestyles.
The company presently operates 1,773 retail outlets throughout India as of May 31, 2023. Among these, there are 379 exclusive brand stores (EBOs), 89 large format stores (LFSs), and 1,305 multi-brand stores (MBOs).
Spanning major metropolitan areas to Tier 3 cities, the company's presence has steadily expanded. As of March 31, 2023, 2022, and 2021, it has established itself in 582, 598, and 569 cities, respectively.
By May 31, 2023, the company boasted a design team comprising 15 members. Their collaborative efforts enabled the creation and production of over 1,348 designs during the 2023 financial year.
| 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 (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 |
Investors have the option to bid for a minimum of 53 shares, with the opportunity to increase in multiples of this amount. The table below illustrates the minimum and maximum investment potential for both retail investors and HNIs in terms of shares and corresponding amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,840 |
| Retail (Max) | 13 | 689 | ₹192,920 |
| S-HNI (Min) | 14 | 742 | ₹207,760 |
| S-HNI (Max) | 67 | 3,551 | ₹994,280 |
| B-HNI (Min) | 68 | 3,604 | ₹1,009,120 |
| 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 |
| 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 |
Whether you're a seasoned investor or just starting out, Lakshmishree ensures you don't miss out on premier IPO opportunities. Dive into the future of investing with Lakshmishree.
Credo Brands Marketing Limited witnessed a remarkable 43.54% surge in revenue and an impressive 116.88% rise in profit after tax (PAT) between the financial years ending on March 31, 2023, and March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 June 2023 |
|---|---|---|---|---|
| Assets | 416.99 | 476.05 | 574.48 | 592.38 |
| Revenue | 261.15 | 354.84 | 509.32 | 119.43 |
| Profit After Tax | 3.44 | 35.74 | 77.51 | 8.58 |
| Net Worth | 192.33 | 235.73 | 281.32 | 289.88 |
| Total Borrowings | 15.23 | 13.46 | 10.08 | 11.30 |
| KPI | Values |
|---|---|
| P/E (x) | 23.22 |
| ROE | 29.98% |
| ROCE | 28.16% |
| Debt/ Equity | 0.65 |
| EPS (Rs) | 0.54 |
| RoNW | 29.98% |
The Offer aims to attain two primary objectives:
Additionally, the Company anticipates that the listing of its Equity Shares will amplify visibility and bolster brand image while offering liquidity to Shareholders and establishing a public market for Equity Shares in India.
Prospectus: Official documents that provide detailed information about the IPO and the company. Credo Brands Marketing Limited IPO DRHP and Credo Brands Marketing Limited IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Credo Brands Marketing Limited" IPO is ₹266 to ₹280 per share.
The "Credo Brands Marketing Limited" IPO is expected to be listed on Wednesday, 27 December 2023.
To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.
Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.
