Mufti Menswear IPO Review

 
Mufti Menswear IPO Review

IPO Open Date: December 19, 2023

IPO Close Date: December 21, 2023

IPO Price: ₹266 to ₹280 per share

Lot Size: 53 Shares

Listing: December 27, 2023

Mufti Menswear is scheduled to hit the market on December 19, 2023 and close on December 21, 2023. Mufti Menswear plans to raise around ₹549.78 Cr through an IPO with a sale of up to 10,000,000 equity shares of ₹2 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Founded in 1999, Credo Brands Marketing Limited is a prominent player in the men's casual clothing segment, renowned for its flagship brand “Mufti.” Originally starting with a product line that included shirts, T-shirts, and trousers in 1998, the company has significantly expanded its offerings. Presently, Mufti provides a diverse range of clothing, spanning sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters.

These products are strategically categorized to cater to various needs, including relaxed casual wear for vacations, authentic everyday wear, urban casual wear, party wear, and athleisure. Mufti has evolved into a comprehensive destination for men's fashion, reflecting the brand's commitment to versatility and contemporary style.

Mufti Menswear


Mufti Menswear IPO Details

Mufti Menswear IPO opens on Dec 19 , 2023, and closes on Dec 21 , 2023. The Listing date for Mufti Menswear IPO is on Dec 27, 2023. The price band for IPO is ₹266 to ₹280 per share per share and lot size of 150 Shares.

IPO DateDec 19 , 2023 to Dec 21, 2023
Listing DateDec 27, 2023
Price₹266 to ₹280 per share
Lot Size53 Shares
Issue Size₹549.78 Cr
Face Value₹2 per share

Mufti Menswear IPO Tentative Timetable

Mufti Menswear opening date is December 19, 2023 and close date is December 21, 2023. The IPO allotment date is December 22, 2023. The refund initiation of IPO is on December 26, 2023. The credit of shares in demat account is on December 26, 2023. The listing date is on December 27 , 2023.

EventDate
IPO OpeningDec 19, 2023
IPO ClosingDec 21, 2023
IPO Allotment DateDec 22, 2023
Refund InitiationDec 26, 2023
Shares Credit to DematDec 26, 2023
Lisiting DateDec 27, 2023

Mufti Menswear IPO Lot Size

Lot Size of this IPO is 53 shares. A retail-individual investor can apply for up to 13 lots (689 shares or ₹192,920).

CategoryLotsSharesAmount
Retail(Minimum)153₹14,840
Retail(Maximum)13689₹192,920
S-HNI (Minimum)14742₹207,760
B-HNI (Minimum)683,604₹1,009,120

Mufti Menswear IPO Promoter Holding

Pre Issue Share Holding66.66%
Post Issue Share Holding53.66%

Mufti Menswear IPO Review

Credo Brands Marketing Limited, a prominent player in the retail space, boasts a widespread presence with 1,773 retail outlets across India, including exclusive brand stores (EBOs), large format stores (LFSs), and multi-brand stores (MBOs). The company's expansive reach spans major metropolitan areas to Tier 3 cities, indicating a broad market penetration strategy.

As of May 31, 2023, the company's design team, comprising 15 members, has been instrumental in creating and producing more than 1,348 designs during the 2023 financial year. This underscores the company's commitment to staying ahead in the competitive retail landscape by offering diverse and trendsetting designs.

Credo Brands Marketing Limited's financial performance reflects robust growth, with a notable 43.54% increase in revenue and a remarkable 116.88% surge in profit after tax (PAT) between the financial years ending March 31, 2023, and March 31, 2022. Key financial indicators, including a Price-to-Earnings (P/E) ratio of 23.22, Return on Equity (ROE) of 29.98%, Return on Capital Employed (ROCE) at 28.16%, Debt/Equity ratio of 0.65, Earnings Per Share (EPS) at ₹0.54, and Return on Net Worth (RoNW) of 29.98%, provide valuable insights for potential investors.

Mufti Menswear IPO Subscription Status (Bidding Details)

No IPO ID provided. Check if the "ipo-subscription" field is set for this post.

Mufti Menswear IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Mufti Menswear IPO FAQs

What is Mufti Menswear IPO?

Mufti Menswear is issuing 19,634,960 equity shares with a face value of ₹2 each, totaling up to ₹549.78 Cr. The shares are being offered at a price of ₹266 to ₹280 each, with a minimum order quantity of 53 shares.

Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Mufti Menswear IPO will open?

Mufti Menswear will open on December 19 , 2023 for QIB, NII, and Retail Investors.

When Mufti Menswear IPO will end?

Mufti Menswear will end on December 21, 2023.

What is Mufti Menswear IPO Size?

Mufti Menswear IPO size is ₹549.78 Cr.

What is Mufti Menswear IPO Price Band?

Mufti Menswear price band is ₹266 to ₹280 per share.

What is the Mufti Menswear IPO Allotment Date?

Mufti Menswear allotment date is December 22, 2023.

What is the Mufti Menswear IPO Listing Date?

Mufti Menswear listing date is December 27, 2023. The IPO is to be listed on BSE and NSE.

How to Apply Mufti Menswear IPO through Zerodha?

To apply for the IPO “Mufti Menswear” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Mufti Menswear IPO through Upstox?

To apply for the IPO “Mufti Menswear” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Mufti Menswear IPO Allotment Status?

For Mufti Menswear IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Mufti Menswear IPO GMP?

You can check out here: Mufti Menswear IPO GMP

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I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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