Credo Brands Marketing IPO Details
Issue Date
19 Dec - 21 Dec'23
Price Range
₹266 - ₹280
Lot Size
53
IPO Size
₹549.78 Cr
Credo Brands Marketing IPO Listing Details
Listing On
27 Dec'23
Issue Price
₹280
Listed Price
₹ 282.35
Retail Gain/Listing Gain
▲0.84%
Schedule of Credo Brands Marketing IPO
Start date
19/12/2023
End date
21/12/2023
Allotment of bids
Refund Initiation
Listing on exchange
27/12/2023
Credo Brands Marketing Limited IPO Issue Details
Kotak Securities
•08m 40s
Company Background
Credo Brands Marketing Limited caters to a customer’s wardrobe solution for multiple occasions in their life, dealing with offerings ranging from shirts to t-shirts, jeans to chinos, and overall all-year-round clothing.
The company is engaged in the retail sale of garments and accessories, but does not manufacture any apparel.
Let's take a look at the competitive strengths and risk factors for Credo Brands Marketing Limited:
Competitive Strengths
Strong brand equity with presence across categories
Launched in the year 1998, the brand“Mufti” is well recognised with 25 years of presence in India. Alongside the diversified product portfolio, the company launched “Muftisphere” in the year 2014, a customer loyalty programme, to provide benefits to customers for shopping, thereby increasing customer stickiness with the brand. The company currently has over 2 million customers on Muftisphere.
Multi-channel pan-India distribution network
As of September 30, 2023, the company has a pan-India presence with a reach extending from Major Metros to Tier-3 cities, including 1,807 touchpoints. This is further complemented by their online presence.
Scalable asset-light model
With a focus on creating a holistic casual wear brand, the company outsources its manufacturing operations, while all aspects of design are managed in-house. This helps them maintain an asset-light model concerning plant, property, and equipment. Further, using its economies of scale, the company drives efficient partnerships from the back-end to the front-end without a need to invest in developing manufacturing facilities.
Risk Factors
- The company is primarily concentrated on the sale of men’s casual western wear and is vulnerable to variations in demand and changes in consumer preferences.
- If the company cannot keep up with emerging trends and maintain optimum inventory level, the business is adversely affected.
- All products are sold under a single brand, ‘Mufti.’
Key Strategies
- Expand the domestic store network in existing and new cities.
- Enhancement of brand appeal through focused marketing initiatives.
- Deeper penetration to grow sales through online channels by capitalising on the increasing e-commerce demand in Indian retail.
Credo Brands Key Financials
Here are the key financials for Credo Brands Marketing Limited:
How to apply for IPO through ASBA
Kotak Securities
•00m 59 s
How To Apply for Credo Brands Marketing Ltd IPO?
Here are the steps to apply for Credo Brands Marketing Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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