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Credo Brands (Mufti Menswear) IPO

  • Status: Closed
  • RHP:
  • ₹ 14,098 / 53 shares

    Minimum Investment

IPO Details

  • Open Date

    19 Dec 2023

  • Close Date

    21 Dec 2023

  • IPO Price Range

    ₹ 266 to ₹ 280

  • IPO Size

    ₹ 549.78 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    27 Dec 2023

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Credo Brands (Mufti Menswear) IPO Subscription Status

Last Updated: 21 December 2023 6:10 PM by 5Paisa

Credo Brands Marketing Limited IPO is all set to open from 19th December to 21st December 2023. The company is engaged in the business of men’s casual wear under the popular brand name ‘Mufti’. The IPO includes an Offer-for-Sale (OFS) of 19,634,960 shares worth ₹549.78 cr. The share allotment date is 22nd December, and the IPO will be listed on 27th December on the stock exchanges. The price band is ₹266 to ₹280 per share and the lot size is 53 shares.    

DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Mufti IPO:

As it is an OFS, the company will not receive any proceeds from this public issue.   
 

Mufti IPO Video:

 

Credo Brands Marketing Limited is engaged in the business of retailing men’s casual wear and accessories under the popular brand name ‘Mufti’.  The company’s product line includes shirts, t-shirts, jeans, chinos, sweatshirts, cargos, chinos, jackets, blazers, sweaters, and more that appeal to young audiences and can be worn all year round for a variety of occasions. 

The company’s offerings can be categorised as relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and athleisure. Credo does not manufacture any clothing items. 

Credo Brands Marketing has a well-established PAN-India presence with stores in major metro, Tier 1, Tier 2 and Tier 3 cities. It has a distribution network of 1773 retail stores that includes i) exclusive brand outlets (“EBOs”) ii) large format stores (“LFSs”) iii) multi-brand outlets (“MBOs”). Additionally, the company also sells its products online. 

Peer Comparison
●    Aditya Birla Fashion and Retail Limited
●    Go Fashion (India) Limited
●    Arvind Fashions Limited
●    Kewal Kiran Clothing Limited
 

For More Information:
Mufti IPO GMP
Webstory on Mufti IPO
Know About Mufti IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 498.18 341.17 244.82
EBITDA 163.85 95.09 48.48
PAT 77.51 35.74 3.44
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 574.48 476.04 416.99
Share Capital 3.215 3.192 3.192
Total Borrowings 293.12 240.32 224.65
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 72.41 78.38 95.63
Net cash from / (used in) investing activities -19.08 -27.95 -5.91
Net cash flow from / (used in) financing activities -81.87 -39.03 -66.09
Net increase (decrease) in cash and cash equivalents -28.54 11.39 23.63

Strengths

1.    The company has Strong brand equity with a presence across categories.
2.    It also has a multi-channel pan-India distribution network. 
3.    The company operates on a scalable asset-light model. 
4.    It has strong in-house design competencies to deliver innovative and high-quality products with end-to-endtech-enabled supply chain capabilities.
5.    Its business model is financially stable. 
6.    Experienced promoters and management team.
 

Risks

1.    The business is subject to changing consumer preferences. 
2.    Operates in a highly competitive industry.
3.    A substantial portion of the revenue is from its offline retail channels.
4.    Negative reviews from customers may have an adverse impact on the brand.
5.    The business is subject to seasonality.
6.    Prone to payment-related risks, including risks associated with cash payments, online payment mechanisms and payment processing risks.
7.    Its subsidiary has reported losses in the past. 
8.    It has substantial working capital requirements.
 

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FAQs

The minimum lot size of Credo Brands (Mufti) IPO is 17 shares and the investment required is ₹14,098.

The price band of Credo Brands (Mufti) IPO is ₹266 to ₹280 per share.

The Credo Brands (Mufti) IPO is open from 19th December to 21st December 2023.

The size of Credo Brands (Mufti) IPO is around ₹549.78 cr. 

The share allotment date of Credo Brands (Mufti) IPO is 22nd of December 2023.

The Credo Brands (Mufti) IPO will be listed on 27th of December 2023.

DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited are the book-running lead managers for Credo Brands (Mufti) IPO.

As it is an OFS, the company will not receive any proceeds from this public issue.    
 

To apply for Credo Brands (Mufti) IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Credo Brands (Mufti) IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.