Credo Brands Marketing IPO:
As of today, December 21, 2023, or on Thursday of this week, Credo Brands Marketing Limited’s initial public offering (IPO) is still open. Therefore, this week’s subscription window for Credo Brands’ IPO will be open from Tuesday through Thursday. For Credo Brands’ first public offering, the clothing firm set the price range between ₹266 to ₹280 per equity share. The goal of its inaugural sale is to raise ₹549.78 crore. An NSE and BSE listing for the public issue is being suggested.
In the interim, Credo Brands Marketing Ltd. shares can be traded on an unlisted market. Observers of the stock market claim that shares of Credo Brands Marketing are currently available in the gray market for a premium of ₹126.
Six mainboard IPOs valued at more over ₹3,100 crore are available for subscription today.
Important Credo Brands Marketing IPO details
Here we list out important Credo Brands Marketing IPO details:
- Credo Brands IPO GMP: According to market experts, the company’s shares are currently available on the black market for a premium of ₹126.
- Credo Brands IPO price: The clothing manufacturer set the IPO pricing range for these Brands at ₹266 to ₹280 for each equity share.
- Credo Brands IPO date: Today marks the start of the public offer, which will run until this Thursday, December 21, 2023.
- Credo Brands IPO size: Through this public offering, the firm hopes to raise ₹549.78 crore, all of which are offers for sale (OFS).
- Credo Brands IPO lot size: Bidders may submit their applications in lots, with each lot consisting of 53 company shares for the IPO.
- Credo Brands IPO allotment date: The most likely date for share allocation following the T+3 listing regulation is December 22, 2023.
- Credo Brands IPO registrar: The public offer’s official registrar has been named as Link Intime India Private Limited.
- Credo Brands IPO listing: It is suggested that the public issue be listed on the BSE and NSE.
- Credo Brands IPO listing date: It is anticipated that shares will list on December 27, 2023.
Credo Brands IPO: Apply or not?
Credo Brands IPO review: Arun Kejriwal, the founder of Kejriwal Research and Investment Services, added a “subscribe” tag to the public problem and stated, “Credo Brands Marketing Limited has around 1800 outlets total, including its brand outlet and franchise outlets. The men’s clothing firm is profitable. The company’s sales increased by around 43.50 percent in FY23.
while its profit and loss increased by almost 17 percent. Its prices are appealing as well. Investors are thus encouraged to apply for the public offering in accordance with their time horizon, since it is anticipated to list at a premium and may see purchasing activity after listing. Therefore, even after these Brands Marketing shares make a strong launch, investors with a long-term outlook can retain their stake.”
Dhruv Mudaraddi, Research Analyst at Stoxbox, emphasized the fundamentals of Clothing Brands Marketing Limited by saying, “The men’s apparel market in India is projected to be Rs. 2.2 lakh crores in FY23 and has grown at a CAGR of 9.6% from FY15-20.” By FY27, it is expected to have grown at a robust 18% CAGR and reach Rs. 4.3 lakh crores.
This creates a dynamic environment in which Clothing Brands Marketing stands out as a significant player with a unique combination of characteristics. One of the company’s qualitative advantages is its substantial brand equity, which protects against business model risks and spans a wide variety of products.
The Stoxbox specialist continued by saying that MUFTI exhibits adaptability for growth with little initial financial outlays. Strong internal design capabilities and the brand’s enduring status as a menswear pioneer create significant entrance obstacles. In terms of finances, MUFTI achieved a remarkable compound annual growth rate (CAGR) of over 42% between FY21 and FY23. Net earnings increased by twofold over the prior year and by a multiple of that of FY21.
Dhruv Mudaraddi of Stoxbox tagged the IPO of Clothing Brands as “subscribe.” He said, “Although the increase in profitability is encouraging, projecting the June quarter profit figures for FY24 indicates a significant potential shortfall compared to earlier performance.” It is too soon to draw firm conclusions about the overall financial performance for FY24.
But we anticipate a seasonal rise in the future quarters due to the winter sale of products like coats and sweaters. Nonetheless, the growth in FY23 has resulted in a noticeable enhancement in net profit margins (15.5% in FY23) and return on equity (30% in FY23). The firm works in a market where margins are steady, as seen by the strong rise in ROE and net margins over the last two years, highlighting the strength of
Disclaimer: The opinions expressed above are not those of Mint; rather, they are the opinions of certain analysts or brokerage firms. Before making any financial decisions, we suggest investors to consult with qualified specialists.