What you must know about Credo Brands Marketing (MUFTI) IPO?
by 5paisa Research Team
14 Dec 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 27-Dec-23
- IPO Price Range ₹266
- Listing Price ₹282
- Listing Change 0.7 %
- Last Traded Price ₹175.25
- Current Change -37.4 %
Mufti IPO Details
- Open Date 19-Dec-23
- Close Date 21-Dec-23
- Lot Size 53
- IPO Size ₹ 549.78 Cr
- IPO Price Range ₹ 266 to ₹ 280
- Min Investment ₹ 14098
- Listing Exchange BSE, NSE
- Basis of Allotment 22-Dec-23
- Refunds 26-Dec-23
- Credit to Demat Account 26-Dec-23
- Listing Date 27-Dec-23
Credo Brands (Mufti Menswear) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-Dec-23 | 0.01 | 2.08 | 3.36 | 2.13 |
| 20-Dec-23 | 0.35 | 11.55 | 9.05 | 7.10 |
| 21-Dec-23 | 104.95 | 55.52 | 19.94 | 51.85 |
Mufti IPO Synopsis
Credo Brands Marketing Limited IPO is all set to open from 19th December to 21st December 2023. The company is engaged in the business of men’s casual wear under the popular brand name ‘Mufti’. The IPO includes an Offer-for-Sale (OFS) of 19,634,960 shares worth ₹549.78 cr. The share allotment date is 22nd December, and the IPO will be listed on 27th December on the stock exchanges. The price band is ₹266 to ₹280 per share and the lot size is 53 shares.
DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Mufti IPO:
As it is an OFS, the company will not receive any proceeds from this public issue.
Mufti IPO Video:
About Credo Brands (Mufti Menswear)
Credo Brands Marketing Limited is engaged in the business of retailing men’s casual wear and accessories under the popular brand name ‘Mufti’. The company’s product line includes shirts, t-shirts, jeans, chinos, sweatshirts, cargos, chinos, jackets, blazers, sweaters, and more that appeal to young audiences and can be worn all year round for a variety of occasions.
The company’s offerings can be categorised as relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and athleisure. Credo does not manufacture any clothing items.
Credo Brands Marketing has a well-established PAN-India presence with stores in major metro, Tier 1, Tier 2 and Tier 3 cities. It has a distribution network of 1773 retail stores that includes i) exclusive brand outlets (“EBOs”) ii) large format stores (“LFSs”) iii) multi-brand outlets (“MBOs”). Additionally, the company also sells its products online.
Peer Comparison
● Aditya Birla Fashion and Retail Limited
● Go Fashion (India) Limited
● Arvind Fashions Limited
● Kewal Kiran Clothing Limited
For More Information:
Mufti IPO GMP
Webstory on Mufti IPO
Know About Mufti IPO
Credo Brands (Mufti Menswear) Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 498.18 | 341.17 | 244.82 |
| EBITDA | 163.85 | 95.09 | 48.48 |
| PAT | 77.51 | 35.74 | 3.44 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 574.48 | 476.04 | 416.99 |
| Share Capital | 3.215 | 3.192 | 3.192 |
| Total Borrowings | 293.12 | 240.32 | 224.65 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 72.41 | 78.38 | 95.63 |
| Net cash from / (used in) investing activities | -19.08 | -27.95 | -5.91 |
| Net cash flow from / (used in) financing activities | -81.87 | -39.03 | -66.09 |
| Net increase (decrease) in cash and cash equivalents | -28.54 | 11.39 | 23.63 |
Mufti IPO Key Points
-
Strengths
1. The company has Strong brand equity with a presence across categories.
2. It also has a multi-channel pan-India distribution network.
3. The company operates on a scalable asset-light model.
4. It has strong in-house design competencies to deliver innovative and high-quality products with end-to-endtech-enabled supply chain capabilities.
5. Its business model is financially stable.
6. Experienced promoters and management team.
-
Risks
1. The business is subject to changing consumer preferences.
2. Operates in a highly competitive industry.
3. A substantial portion of the revenue is from its offline retail channels.
4. Negative reviews from customers may have an adverse impact on the brand.
5. The business is subject to seasonality.
6. Prone to payment-related risks, including risks associated with cash payments, online payment mechanisms and payment processing risks.
7. Its subsidiary has reported losses in the past.
8. It has substantial working capital requirements.
Mufti
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Mufti IPO FAQs
What is the minimum lot size and investment required for the Credo Brands (Mufti) IPO?
The minimum lot size of Credo Brands (Mufti) IPO is 17 shares and the investment required is ₹14,098.
What is the price band of Credo Brands (Mufti) IPO?
The price band of Credo Brands (Mufti) IPO is ₹266 to ₹280 per share.
When does the Credo Brands (Mufti) IPO opens and closes?
The Credo Brands (Mufti) IPO is open from 19th December to 21st December 2023.
What is the size of the Credo Brands (Mufti) IPO?
The size of Credo Brands (Mufti) IPO is around ₹549.78 cr.
What is the allotment date of Credo Brands (Mufti) IPO?
The share allotment date of Credo Brands (Mufti) IPO is 22nd of December 2023.
What is the Credo Brands (Mufti) IPO listing date?
The Credo Brands (Mufti) IPO will be listed on 27th of December 2023.
Who are the book runners for Credo Brands (Mufti) IPO?
DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book-running lead managers for Credo Brands (Mufti) IPO.
What is the objective of Credo Brands (Mufti) IPO?
As it is an OFS, the company will not receive any proceeds from this public issue.
How to apply for Credo Brands (Mufti) IPO?
To apply for Credo Brands (Mufti) IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Credo Brands (Mufti) IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of Credo Brands (Mufti Menswear) IPO
Contact Information
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: investorrelations@mufti.in
Website: https://www.credobrands.in/
Credo Brands (Mufti Menswear) IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: credobrands.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Credo Brands (Mufti Menswear) IPO Lead Manager
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
ICICI Securities Limited
Keynote Financial Services Ltd
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