Mufti IPO Listing: Credo Brands Marketing Shares Listed Almost Flat; Did Not Match Experts Expectations

Credo Brands Marketing IPO Listing:  The shares of Credo Brands Marketing (Mufti Menswear) made an almost flat debut in the stock market on December 27. The apparel marketing firm's shares listed up just 0.7 per cent against the upper band of the issue price of Rs 280. The Credo Brands Shares started trading at Rs 282.35 on the NSE and Rs 280 on the BSE.

The IPO did not meet the expectations of experts as they were expecting a listing gain of 25-35 per cent.

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The company came with a 550 crore public issue and it was subscribed 51.85 times. The IPO was open for subscription from December 19-21. The quota reserved for Eligible institutional buyers subscribed 104.95 times, while the high-net-worth individuals section subscribed 55.52 times the allotted share and the retail investor's section registered 19.94 times subscription.

Credo Brand Marketing currently operates 1,773 retail outlets across India (as of May 31, 2023). This includes 379 exclusive brand stores, 89 large format stores and 1,305 multi-brand stores. Incorporated in 1999, Credo Brands Marketing Limited offers men's casual wear with its flagship brand "Mufti".

Credo Brand Marketing (Mufti) IPO Details

IPO Price Range-  The price range for the apparel brand IPO was Rs 266-280

Mufti IPO Lot Size- A bidder had to buy a lot of 53 shares, which means a subscription needed at least Rs 14098 of investment.

Mufti IPO Issue Size- The Issue size of the IPO was Rs 549.78 Cr

Credo Brands IPO Subscription rate - The offering was subscribed to 51.78 times against the issue size

IPO subscription Date -  It was open for Subscription between December 19-21 

Mufti IPO Listing Details 

Listing Date- The shares were listed on 27 December 2023

Listing Price - The shares of Mufti started trading at Rs 282.35 per share at NSE

Gain/Loss - The Shares were listed with a 0.7% gain

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