Credo Brands Marketing Limited’s IPO to open on December 19

Ahmedabad: Mumbai-based Credo Brands Marketing Limited (the “Company“) has fixed the price band at Rs 266 to Rs 280 per Equity Share for its initial public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on December 19, 2023, for subscription and close on December 21, 2023. Investors can bid for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter. The Offer of face value of Rs 2 per Equity Share is entirely an offer for sale up to 1,96,34,960 Equity Shares, the company said in press statement.

As outlined in the company’s press release,”Kamal Khushlani launched the brand “Mufti” 25 years ago with a vision to redefine menswear. It believes in providing a meaningful wardrobe solution for multiple occasions in a customer’s life, with our product offerings ranging from shirts to t- shirts to jeans to chinos, that caters to all year-round clothing. The products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends.”

“The products are available through a pan-India multichannel distribution network that we have built over the years comprising of its exclusive brand outlets (“EBOs”), large format stores (“LFSs”) and multi-brand outlets (“MBOs”), as well as online channels comprising the website and other e-commerce marketplaces. As of September 30, 2023, it has a pan-India presence through 1,807 touchpoints consisting of 404 EBOs, 71 LFSs and 1,332 MBOs, with its reach extending from major metros to Tier-3 cities, with a presence in 591 cities,” the release further said.

As per the company’s official statement, DAM Capital Advisors Limited, ICICI Securities Limited, Keynote Financial Services Limited* are the book running lead managers and Link Intime India Private Limited is the registrar to the Offer. The Equity shares are proposed to be listed on BSE and NSE.