Mufti Menswear (parent company - Credo Brands Marketing Ltd.) which concluded its Intial Public Offering (IPO) on December 21 saw its issue being subscribed 51.85 times more than what was available.
Institutional investors led the subscription with 104.95 times, non-institutional investors with 55.52 times, and retail investors with 19.94 times. The IPO is entirely an offer for sale of up to 1.96 crore shares with a face value of Rs 2 each. Credo Brands has raised Rs 165 crore from anchor investors and allotted 58.9 lakh equity shares to 11 funds at Rs 280 apiece.
Mufti Menswear IPO Allotment Date
The allotment of shares of Mufti Menswear (Credo Brands Marketing Limited) is expected to be finalised on Friday, December 22.
*This is a tentative date ans is subject to change
Mufti Menswear IPO Listing Date
The shares of Credo Brands Marketing Limited are expected to list on BSE and NSE on Wednesday, December 27.
*This is a tentative date and is subject to change
Investors can check Mufti Menswear IPO allotment status on the official website of the registrar for IPO, Link Intime Pvt Ltd. and on the official BSE website.
Mufti Menswear IPO Subscription Status
Subscription Day 3
Total Subscription: 51.85 times
Institutional investors: 104.95 times.
Non-institutional investors: 55.52 times.
Retail investors: 19.94 times.
Subscription Day 2
Total Subscription: 6.94 times
Institutional investors: 0.35 times or 35%.
Non-institutional investors: 11.47 times.
Retail investors: 8.77 times.
Subscription Day 1
Total Subscription: 2.09 times
Institutional investors: 0.01 times or 1%
Non-institutional investors: 2.06 times.
Retail investors: 3.29 times.
Mufti Menswear IPO Timeline (Tentative Schedule)
IPO Open Date: December 19
IPO Close Date: December 21
Basis of Allotment: December 22
Initiation of Refunds: December 26
Credit of Shares to Demat: December 26
Listing Date: December 27
Mufti Menswear IPO Issue Details
Total Issue Size: 19,634,960 shares
Face Value: Rs 2 per share
Offer for Sale Size: 19,634,960 shares
Shares for Offer for Sale: 19,634,960 shares
Price Band: Rs 266 to Rs 280 per share
Lot Size: 53 Shares
About Credo Brands Marketing Limited
Credo Brands Marketing Limited, established in 1999, is a company that specializes in trendy men's casual clothing under its popular brand "Mufti." Initially offering shirts, T-shirts, and trousers in 1998, the company has expanded its product range to include a diverse selection such as sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters. With a broad spectrum of styles, including relaxed casual wear, everyday wear, urban casual wear, party wear, and athleisure, Mufti caters to various fashion preferences.
As of May 31, 2023, Credo Brands operates 1,773 retail outlets across India, comprising 379 exclusive brand stores, 89 large format stores, and 1,305 multi-brand stores. The company's presence spans major cities to Tier 3 cities, reaching a total of 582 cities as of March 31, 2023. The dedicated design team, consisting of 15 members, contributed to the creation of over 1,348 designs during the 2023 financial year.
RECOMMENDED FOR YOU

Nifty In Technical Charts: Consolidation Time Ahead


Google Pixel 10: Launch Date, Time In India, US, UK, UAE, Livestreaming Details, What To Expect


Aditya Infotech Sets Price Band At Rs 640-675 Per Share For Rs 1,300 Crore IPO


Hero Motors Re-Files Draft IPO Papers, This Time For Rs 1,200-Crore Issue
