Credo BrandS IPO: Check IPO Date, Price, Details | Espresso

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Credo Brands Marketing Ltd IPO opens on December 19. Check IPO Details Issue Date Price

December 18, 2023
Credo Brands Marketing Ltd IPO opens on December 19. Check IPO Details Issue Date Price

Credo Brands Marketing Limited is coming out with a fresh public issue to raise Rs 550 crores from the market.

Below are the details of the Credo Brands Marketing Limited IPO:

  • Issue opens – December 19 (Tuesday)
  • Issue closes – December 21 (Thursday)
  • Issue size – Rs 550 crores
  • Price band – Rs 266 to 280 per equity share
  • Bid lot – 53 shares and in multiples thereof

And here are some details of the company and further details on the Credo Brands Marketing Limited IPO.

Company details:

  • Credo Brands believes in providing a meaningful wardrobe solution for multiple occasions in a customer’s life, with product offerings ranging from shirts to t-shirts to jeans to chinos, which caters to all year-round clothing. The products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends. They are engaged in the retail sale of garments and accessories, and do not manufacture any apparel.
  • “Mufti” was launched by the Promoter, Kamal Khushlani, 25 years ago with a vision to redefine menswear. The brand was created as an alternative dressing solution and was designed to deliver a casual alternative with a focus on creative, bold, and expressive clothing for the contemporary Indian man who wanted something more stylish than what was commonly available.
  • The products are available through a pan-India multichannel distribution network that they have built over the years comprising of: exclusive brand outlets (“EBOs”), large format stores (“LFSs”) and multi-brand outlets (“MBOs”), as well as online channels comprising of their website and other e-commerce marketplaces. Their multi-channel presence is planned strategically in a manner that their products across categories are available at consumers’ preferred shopping channels.
  • As of September 30, 2023 the company has a pan India presence with their reach extending from Major Metros to Tier-3 cities as indicated: EBOs: 404 | LFSs: 71 | MBOs 1,332| Total: 1,807
  • Well-established EBO network offers a holistic shopping experience for their customers. EBOs are located nationwide across high streets, malls, airports and residential market areas. They also have an online presence which is rapidly growing wherein their customers can shop through the website, www.muftijeans.in, as well as through various e-commerce marketplaces.

Issue Size: Rs. 550 crores

Issue break-up:

QIB – 50% of the offer – Rs 274.89 crores

NIB – 15% of the offer – Rs 82.47 crores

RET – 35% of the offer – Rs 192.42 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Thursday, December 21, 2023     

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