Decoding Credo Brands Marketing IPO

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  • 21 Dec 2023
Decoding Credo Brands Marketing IPO

About Credo Brands Marketing

Credo Brands Marketing Limited established itself as a specialist in casual menswear, gaining recognition for its leading brand Mufti. The company initiated its product line with a simple collection of shirts, T-shirts, and trousers, and has since expanded to encompass various ranges, featuring jeans, cargo, chinos, and other items. This expansion allows Credo Brands Marketing Limited to cater to various styles, including relaxed casual, urban wear, and athleisure.

Financial Snapshot

Over the years, the company has recorded a decent revenue growth and a significant jump in earnings per share, highlighting its growth. Here are some of its key financial metrics for FY 23:-

Total Assets Rs 5,744.80 million
Total LiabilitiesRs 2,931.29 million
Total ExpensesRs 4,055.10 million
Return on Net Worth29.98%
Profit After TaxRs 775.14 million

Credo Brands Marketing IPO Details

The IPO comprises an entire offer of sale of up to 19,634,960 equity shares. Each share has a face value of Rs 2 with an aggregate amount of up to Rs 549.78 crore. Some other key details of the IPO are as follows:-

IPO Subscription Starts On December 19
IPO Subscription Ends OnDecember 21
Price BandRs 266 - 280 per equity share
Lot Size53 equity shares and in multiples of 53 thereafter

In its IPO, up to 50% of shares are for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

How to Apply for Credo Brands Marketing IPO?

Effortlessly participate in this IPO through Kotak Securities by completing these straightforward steps:

Access your Kotak Securities Demat account Navigate to the current IPO section Enter the IPO details, specify the number of lots, and indicate your desired application price Input your UPI ID and click submit to place your bid with the exchange Your UPI app will receive a notification to block funds Upon approval, your funds will be successfully blocked

Summing it Up

India's apparel retail market is growing at a fast clip and is anticipated to grow at a CAGR of 3.58% between 2023 - 2027. With India having one of the youngest populations globally, the retail apparel market is poised to do well in the coming days. This positions Credo Brands Marketing to do well in the future. However, before investing in the company's IPO, make sure to go through its draft red herring prospectus well, understand the various risk factors, and decide accordingly.

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