The Credo Brands IPO started on December 19, 2023, and ended on December 21, 2023. Shares were allocated on December 22, 2023, and refund processes began on December 26, 2023. On December 26, 2023, the shares were credited to investors demat accounts. Credo Brands Marketing was officially listed on the stock exchange on December 27, 2023.
During the IPO, Credo Brands Marketing offered shares at a price range of ₹266 to ₹280 per share, and the lot size was 53 shares. The total issue size was ₹549.78 crores and ₹549.78 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Credo Brands IPO Subscription Update Video
Credo Brands IPO Subscription Status
The Credo Brands IPO on December 20, 2023 was subscribed 7.14 times, with the retail category being subscribed 9.13 times, the NII (Non-Institutional Investor) category being subscribed 11.57 times, the QIB (Qualified-Institutional Buyers) category being subscribed 0.35 times.
| Category | Subscription |
| QIB | 0.35x |
| NII | 11.57x |
| Retail | 9.13x |
| Total | 7.14x |
Credo Brands Marketing IPO Basic Details
| Company Name | Credo Brands Marketing Limited |
| Domain of Company | Clothing Brand |
| Credo Brands IPO Open Date | December 19, 2023 |
| Credo Brands IPO Close Date | December 21, 2023 |
| Credo Brands IPO Allotment Date | December 22, 2023 |
| Credo Brands IPO Listing Date | December 27, 2023 |
| Face Value | ₹10 per share |
| Price | ₹266 to ₹280 per share |
| Lot Size | 53 Shares |
| Issue Size | 19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr) |
| Offer for Sale | 19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Company Promoters | Kamal Khushlani and Poonam Khushlani |
About Credo Brands Marketing Limited
Credo Brands Marketing Limited started in 1999, and it’s the company behind the popular men’s casual clothing brand called “Mufti.”
Back in 1998, Mufti only had shirts, T-shirts, and trousers in its lineup. But now, they’ve expanded their range to include a variety of products like sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters. These items fall into different categories, such as relaxed casual wear for vacations, everyday authentic wear, urban casual wear, party wear, and athleisure.
As of May 31, 2023, the company has a total of 1,773 retail outlets throughout India. This includes 379 exclusive brand stores (EBOs), 89 large format stores (LFSs), and 1,305 multi-brand stores (MBOs).
Mufti has a broad presence, reaching from major cities to Tier 3 cities. By March 31, 2023, they were in 582 cities, compared to 598 and 569 cities on March 31, 2022, and March 31, 2021, respectively.
As of May 31, 2023, the design team at Mufti comprised 15 members. Thanks to their efforts, they came up with over 1,348 designs during the 2023 financial year.
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Credo Brands IPO FAQs
What is the start and end date of Credo Brands IPO Subscription?
The Credo Brands IPO started on December 19, 2023, and ended on December 21, 2023.
When does Credo Brands IPO Subscription open?
The Credo Brands IPO open on December 19, 2023.
When does Credo Brands IPO Subscription close?
The Credo Brands IPO Close on December 21, 2023.
What is the allotment date of Credo Brands IPO?
The allotment date for Credo Brands IPO is December 22, 2023.
When is the initial refund date of Credo Brands IPO?
The initial Refund date for Credo Brands IPO is December 26, 2023.
When were the shares credited to investors demat accounts for the Credo Brands IPO?
The shares for the Credo Brands IPO were credited to investors demat accounts on December 26, 2023.
When will Credo Brands IPO be listed on the stock market?
Credo Brands IPO stock market will be listed on December 27, 2023 at 10 am.
What was the price range of the Credo Brands IPO shares?
The Credo Brands IPO shares were offered at a price range of ₹266 to ₹280 per share.
What was the lot size for the Credo Brands IPO shares?
The lot size for the Credo Brands IPO shares was 53 shares.
What was the total issue size of the Credo Brands IPO?
The total issue size of the Credo Brands IPO was ₹549.78 crores.
How were the shares allocated among different types of investors for the Credo Brands IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Credo Brands IPO listed?
The Credo Brands IPO was listed on both the NSE and BSE.
What is the Credo Brands IPO Subscription Status?
Credo Brands IPO is subscribed 7.14 Times.
