Credo Brands Marketing Ltd. IPO

Credo Brands Marketing Limited, the powerhouse behind the iconic Mufti menswear brand, has been shaping Indian fashion for over 25 years. Mufti, the brand itself, pulsates with the spirit of Mumbai, offering stylish and affordable casual wear for men who embrace an expressive and youthful outlook. Renowned for its keen understanding of Indian preferences and trendsetting designs, Mufti has conquered a significant share of the premium and mid-premium menswear market. Beyond being a fashion choice, Mufti fosters a community for its customers, celebrating their individuality and inspiring them to be their boldest selves. With a loyal fanbase and a proven track record of growth, Credo Brands is poised to continue its fashion journey, leaving its mark on the wardrobes and hearts of Indian men.

RHP
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DRHP
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Open Date

2023-12-19

Close Date

2023-12-21

Company Financials

You can get the following financial statements of Credo Brands Marketing Ltd. as of now.

Subscription Details

The details about the Credo Brands Marketing Limited IPO (Mufti Menswear IPO) is as:

  • The issue size of the IPO is 549.78 Cr.
  • The price band for Credo Brands Marketing Limited IPO (Mufti Menswear IPO) is Rs 266 to Rs 280.
  • The shares of Credo Brands Marketing Limited IPO (Mufti Menswear IPO) will list on 27th December 2023.
  • The latest tentative GMP of Credo Brands Marketing Limited IPO (Mufti Menswear IPO) is Rs 125.
  • The shares of Credo Brands Marketing Limited IPO (Mufti Menswear IPO) is subscribed 51.85 Times as of 21st December 2023. 

 

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) Valuation

The approx valuation of Credo Brands Marketing Limited IPO (Mufti Menswear IPO) based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 280
Existing Shares (Qty) 6.43 Cr
Market Cap 1800.4 Cr
EPS (FY23) Rs 12.06
PE Ratio 23.21x
Industry PE 95.19x

 

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) Issue Size

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) issue size is 549.78 Cr

Issue Amount
Fresh Issue 0 Cr
Offer For Sale 549.78 Cr

 

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) Market Lot

An Individual can apply for a minimum 1 lot of 53 shares and a maximum of 13 lots of 689 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 53 14,840
 Maximum 13 689 1,92,920

 

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) share offer

The shares of Credo Brands Marketing Limited IPO (Mufti Menswear IPO) is subscribed 51.85 Times as of 21st December 2023. The category-wise shares subscribed are as follows:

Category % Offered Subscription
Qualified Institutional Maximum 50% 104.95 Times
Non-Institutional Minimum 15% 55.52 Times
Retail Individual Minimum 35% 19.94 Times
Total   51.85 Times

Allotment Details

Find below the dates for Credo Brands Marketing Limited IPO (Mufti Menswear IPO):

Schedule Date
Basis of Allotment 22 December 2023
Refunds 26 December 2023
Credit to Demat Account 26 December 2023
IPO Listing Date 27 December 2023

 

Credo Brands Marketing Limited IPO (Mufti Menswear IPO) allotment is released. Check by clicking on the button below.

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Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Net Sales 394.74 449.96 293.4 341.17 498.18
Total Expenditure 358 406.15 264.94 248.07 336.41
Operating Profit 36.74 43.81 28.46 93.1 161.78
Other Income 1.32 2.17 1.67 13.66 13.14
Interest 2.06 6.57 5.49 15.03 17.74
Depreciation 10.84 13.19 12.58 45.89 53.43
Exceptional Items 0 0 0 0 0
Profit Before Tax 25.16 26.23 12.06 45.85 103.75
Provision for Tax 8 10.61 3.42 12.09 26.3
Net Profit 17.16 15.47 9.26 33.75 77.45
Adjusted EPS (Rs.) 0.27 0.24 0.14 0.53 1.2

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity and Liabilities
Share Capital 3.19 3.19 3.19 3.19 3.22
Total Reserves 186.72 184.87 194.8 232.6 278.14
Borrowings 0.48 15.06 13.4 10.08 6.76
Other N/C liabilities 18.78 24.34 22.34 130.5 170.34
Current liabilities 56.9 61.13 48.68 83.87 95.78
Total Liabilities 266.07 288.59 282.41 460.24 554.23
Assets
Net Block 40.2 47.48 40.66 177.59 235.09
Capital WIP 4.6 0.78 0.44 0.56 0.21
Intangible WIP 0 0 0 0 0
Investments 3.97 0 0 0.01 0
Loans & Advances 28.06 27.19 8.17 28.06 29.2
Other N/C Assets 4.1 6.53 24.55 2.29 2.13
Current Assets 185.14 206.61 208.59 251.73 287.6
Total Assets 266.07 288.59 282.41 460.24 554.23
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Sep 2023 Dec 2023
Other Income 1.18 1.05
Profit Before Tax 36.97 20.72
Tax 9 5.14
Profit After Tax 27.97 15.59
Adjusted EPS (Rs) 4.35 2.42

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Dec 2023 55.4 0
Sep 2023 55.4 0
Mar 2022 63.32 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Profit from operations 25.2 26.23 12.06 45.85 103.75
Adjustment 11.55 15.64 16.42 62.82 64.15
Changes in Assets & Liabilities -17.16 -13.85 35.9 -10.58 -62.57
Tax Paid -12.6 -4 -3.22 -19.71 -30.8
Operating Cash Flow 6.99 24.01 61.16 78.38 74.52
Investing Cash Flow -18.81 -14.32 -5.7 -27.95 -21.21
Financing Cash Flow 11.61 -9.08 -30.74 -39.02 -81.8
Net Cash Flow -0.21 0.61 24.72 11.4 -28.49
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