IPO Details

Bidding Dates

18 Dec '23 - 20 Dec '23

Minimum Investment

₹14,840 / 1 Lots ( 53 Shares )

Price Range

₹266 - ₹280

Maximum Investment

₹192,920 / 13 Lots ( 689 Shares )

Retail Discount

Not Applicable

Issue Size

₹549.78 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 18, 2023

IPO Closing Date

Dec 20, 2023

Basis of Allotment

Dec 21, 2023

Initiation of Refunds

Dec 25, 2023

Credit of Shares to Demat Account

Dec 25, 2023

IPO Listing Date

Dec 26, 2023

UPI mandate confirmation

Dec 20, 2023

IPO Subscription Details

DateQIBRetailTotal

Day 1Dec 18, 2023

 0.01x 3.37x 2.13x

Day 2Dec 19, 2023

 0.24x 4.29x 2.85x

IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions Buyers 0.24
Non-Institutional Buyers 2.98
Retail Investors 4.29
Total 2.85

About Credo Brands Marketing Ltd

Credo Brands Marketing Limited is the owner of the denim brand Mufti. Kamal Khushlani, the company's promoter, launched Mufti 25 years ago with an idea to redefine menswear. Regarding market share in Fiscal 2022 in India, they are one of the largest homegrown brands that offer premium and mid-premium men's casual wear. 

In 1998, they started with only shirts and trousers and have significantly evolved since then. They offer various products, including t-shirts, shirts, jeans, chinos, jackets, cargo, etc., catering to year-round attire.

Credo Brands Marketing Limited has a good long-term relationship with its manufacturing, distribution, and supply network partners. As of March 31, 2023, the company had a network of more than 45 manufacturing partners and 45 fabric and accessories suppliers. The suppliers include Birla Century, Arvind Limited, RSWM Limited and NSL Textiles Limited.

India's apparel and accessories sector is expected to be the fastest-growing sector within the retail basket, with an estimated CAGR of 20.8% in FY 2023-27. A major player like Credo can grow in the coming few years.

Credo Brands Marketing Ltd IPO Details

Credo Brands Marketing Ltd IPO Date

The dates for bidding for the Credo Brands Marketing IPO are Tuesday, December 19, 2023, to Thursday, December 21, 2023.

Credo Brands Marketing Ltd IPO Price Band

Credo Brands Marketing Limited’s IPO is a fresh issue IPO of up to ₹549.78 crore. It is a book-building issue. The price range is set to ₹266 to ₹280 per share.

Credo Brands Marketing Ltd IPO Lot Size

The lot size for Credo Brands Marketing Limited’s IPO is 53 shares with a minimum investment of ₹14,840.

Credo Brands Marketing Ltd IPO Objectives 

The objectives of Credo Brands Marketing Limited's IPO are listed below:

  1. To achieve the benefits of listing equity shares on the stock exchanges. 
  2. To carry out the Offer for Sale of up to 19,634,960 equity shares by the selling shareholders. 

Peer Details

Credo Brands Marketing faces competition from publicly listed companies like:

  1. Aditya Birla Fashion and Retail Limited
  2. Go Fashion (India) Limited
  3. Arvind Fashions Limited
  4. Kewal Kiran Clothing Limited

A: Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Credo Brands Marketing Ltd 

Registered office: Block-D, Mondeal Retail Park, Near Rajpath Club, S.G. Highway, Beside Iscon Mall, Ahmedabad, Gujarat-380054, India

Phone: +91-79-69135737

E-mail: cs@rbzjewellers.com

Credo Brands Marketing Company Financials

Financial year Period ending on March 31, 2023
Revenue from Operations 4,981.82
Profit After Tax (PAT) 775.14
Net Worth 2,813.51
Earnings Per Share 12.06
Total Borrowings 100.79

Know before investing

Strengths

4

  1. In 2014, Credo Brands Marketing Limited launched a customer loyalty programme, Muftisphere and they have over 2 million customers who signed up for the loyalty programme.

  2. Their social media presence is also high where they have 3.4 million followers on Facebook and 1,34,000 followers on Instagram as of June 30, 2023.

  3. The company’s revenue from operations almost doubled from ₹2,448.26 million on March 31, 2021, to ₹4,981.82 million on March 31, 2023.

  4. The company’s profit after tax also rose highly from ₹34.41 million on March 31, 2021, to ₹775.14 million on March 31, 2023.

Risks

3

  1. The company is dependent on the continual purchases of its products and regular payments from the franchise stores, both in the long and short term.

  2. The pricing pressure from the competitors can impact the prices set by the company.

  3. Though the company has partnered with the manufacturers and suppliers for a long-time, they don’t hold any definitive agreements with them.

  • How to Apply in IPO
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Credo Brands Marketing Ltd IPO FAQs

What is Credo Brands Marketing Limited's IPO?

Credo Brands Marketing IPO is a book-built IPO. The dates for the IPO are Tuesday, December 19, 2023 to Thursday, December 21, 2023.

When will Credo Brands Marketing Limited's IPO be allotted?

The basis of allotment will be finalised on Friday, December 22, 2023. The credit of shares to the demat accounts will take place on Tuesday, December 26, 2023.

When will Credo Brands Marketing Limited's IPO open for subscription?

The IPO subscription window is Tuesday, December 19, 2023, to Thursday, December 21, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 53 shares, with a sum of ₹14,840.

When will Credo Brands Marketing Limited list on exchanges?

Credo Brands Marketing Ltd will be listed on the BSE and NSE on Wednesday, December 27, 2023.

How do I check the allotment status of the Credo Brands Marketing Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Validate with an OTP
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Credo Brands Marketing Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is not yet announced for Credo Brands Marketing Ltd.

I have finished the application process for the Credo Brands Marketing Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Credo Brands Marketing Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Credo Brands Marketing Limited using one PAN?

You can submit only one application using your PAN card.