₹ 14840 / 53 shares
IPO Details
RHP/DRHPIssue Date
19 Dec - 21 Dec'23
Investment/lot
₹ 14840
Price Range
266 - 280
Lot Size
53
IPO Size
₹ 549.78 Cr
IPO Listing Details
Listing On
27 Dec'23
Issue Price
280
Listed Price
₹ 282.35
Retail Gain/Listing Gain
▲0.84%
IPO Timeline
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:
Particulars (in Rs. million)
Particulars (in Rs. million)
How to apply for IPO through ASBA
Kotak Securities
•00m 59 s
How to apply for an IPO using UPI
Kotak Securities
•01m 19 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.
Credo Brands Marketing Ltd IPO FAQs
When is Credo Brands Marketing Ltd IPO listing date?
Credo Brands Marketing Ltd will list on 2023-12-27.
What is the issue size of Credo Brands Marketing Ltd IPO?
549.78 is the issue size of Credo Brands Marketing Ltd IPO.
What is the minimum lot size required for Credo Brands Marketing Ltd IPO?
The minimum lot size is 53 shares and the investment required is ₹14840.
What is the price band of the Credo Brands Marketing Ltd IPO?
The price band of Credo Brands Marketing Ltd IPO is ₹266 to ₹280.
Where can I read more about Credo Brands Marketing Ltd business?
You can read more about Credo Brands Marketing Ltd and its IPO from the company’s red herring prospectus (RHP) here.
What is the Credo Brands Marketing Limited IPO?
The Credo Brands Marketing Limited IPO has an issue size of Rs. 549.78 crores. The IPO opens for subscription on 19th December 2023 and closes on 21st December 2023.
When is Credo Brands Marketing Ltd IPO allotment?
Credo Brands Marketing Ltd IPO will be allotted on 22nd December 2023.
Who are the book runners for Credo Brands Marketing Ltd IPO?
DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book runners for Credo Brands Marketing Ltd IPO.
Who is the Registrar for Credo Brands Marketing Limited IPO?
Link Intime India Private Limited is the registrar for this IPO.
Where can I read more about Credo Brands Marketing Limited’s business?
You may read more about Credo Brands Marketing Limited and its IPO from the company’s red herring prospectus (RHP) here:
