At the decrease and the higher finish of the worth band, the IPO is anticipated to fetch Rs 522 crore and Rs 550 crore respectively.
The maiden public difficulty will open for subscription on December 19 and conclude on December 21, the corporate introduced.
Credo Brands Marketing Ltd, which owns denim model Mufti, on Thursday fastened the worth band at Rs 266-280 a share for its Rs 550-crore preliminary public providing (IPO).
The maiden public difficulty will open for subscription on December 19 and conclude on December 21, the corporate introduced.
The firm’s difficulty is totally a suggestion on the market (OFS) of as much as 1.96 crore shares by promoters and different current shareholders. Credo Brands Marketing is among the many main homegrown manufacturers within the mid-premium and premium informal males’s put on market within the nation.
At the decrease and the higher finish of the worth band, the IPO is anticipated to fetch Rs 522 crore and Rs 550 crore respectively.
Half of the difficulty dimension has been reserved for certified institutional consumers, 35 per cent for retail traders and the remaining 15 per cent for non-institutional consumers.
Investors can bid for at least 53 fairness shares and in multiples of 53 fairness shares thereafter.
As of September 2023, Credo Brands Marketing has a presence throughout India by 1,807 touchpoints, together with 404 unique model shops (EBOs), 71 giant format shops, and 1,332 multi-model shops (MBOs).
Credo Bands’ income from operations elevated 46 per cent to Rs 498.18 crore in fiscal 2023 from Rs 341.17 crore within the previous fiscal. Besides, revenue after tax surged 117 per cent to Rs 77.51 crore in fiscal 2023 from Rs 35.74 crore within the earlier monetary yr.
DAM Capital Advisors, ICICI Securities, and Keynote Financial Services are the e book-working lead managers to the difficulty. The firm’s fairness shares are proposed to be listed on BSE and NSE.
