Credo Brandings Limited IPO : Company Details

Credo Brandings Limited IPO is set to launch on 19 December, 2023. The company initiated its business operations in the year 1999. It sells men’s casual clothes under the brand name MUFTI. The product range of the company includes jeans, Sweatshirts, Cargo, Jackets, Chinos, Sweaters, Blazers, etc. The entire collection of the company is segregated under the categories named Authentic Everyday Wear, Relaxed Casual Wear, Urban Casual Wear, Everyday Wear, Athleisure, Party Wear etc. It has a total of 1773 retail outlets out of which 89 are Large Format Stores, 379 are Exclusive Brand Stores and 1395 are Multi Brand Stores. 

Credo Brandings Limited IPO DETAILS

Credo Brandings Limited IPO is set to launch on 19 December, 2023. The subscription timeline extends till 21 December, 2023. The size for the IPO is 549.78 Crore Rs. No shares are issued through fresh issue mode. Shares issued through offer for sale mode are worth Rs 549.78 Crore. The lot size is 53 shares and the price is 266 Rs to 280 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 2 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.

Tabular Description of Credo Brandings Limited IPO

IPO OPENING DATE	19 December, 2023
CLOSING DATE FOR IPO	21 December, 2023
ISSUE TYPE	Book Built Issue
Face Value per share	2 Rs. per share
IPO price band	266 Rs. to 280 Rs. per share
LOT SIZE	53 shares
MINIMUM ORDER QUANTITY	53 shares
ISSUE SIZE	549.78 Crore Rs.
OFFER FOR SALE	549.78 Crore Rs.
FRESH ISSUE	No shares are issued through Fresh Issue Mode
LISTING AT	NSE, BSE
LISTING DATE	27 December, 2023

Credo Brandings Limited IPO : IMPORTANT DATES

IPO OPENING DATE	19 December, 2023
CLOSING DATE FOR IPO	21 December, 2023
IPO ALLOTMENT DATE	22 December, 2023
REFUNDS	26 December, 2023
DEMAT A/C CREDITED ON	26 December, 2023
IPO LISTING DATE	27 December, 2023

Credo Brandings Limited IPO begins for subscription from 19 December, 2023. The IPO subscription would continue till 21 December, 2023. The allotment status for the shareholders who applied would come on 22 December, 2023. The refunds for the ones who did not get allotment would be initiated on 26 December, 2023. The DEMAT accounts of shareholders would be credited on 26 December, 2023. The listing of the company would be completed on 27 December, 2023.

Credo Brandings Limited IPO : Lead Managers

The lead managers are :

• ICICI Securities Limited
• DAM Capital Advisors Limited
• Keynote Financial Services Limited

The minimum lot size for the company is decided at 53 shares. This holding accounts to 14840 Rs.. The maximum lot size is decided at 689 shares. This amounts to 192920 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	53 shares	14840 Rs.
Maximum	689 shares	192920 Rs.

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

Particularly (in Crore Rs.)	2020-21	2021-22	2022-23
ASSETS	416	476	574
Revenue	261	354	509
PAT	3.44	35	77

Credo Brandings Limited had an asset base of 416 Crore Rs in 2021, 476 Crore Rs in 2022 and 574 Crore Rs in 2023. The revenue of the firm was 261 Crore Rs in 2021. This increased to 354 Crore Rs in 2022 and 509 Crore Rs in 2023. The profit of the firm was 3.44 Crore Rs in 2021 which increased to 35 Crore Rs in 2022. In the next year the profit more than doubled to 77 Crore rs.

PROS

• The product range of the company includes jeans, Sweatshirts, Cargo, Jackets, Chinos, Sweaters, Blazers, etc.
• The entire collection of the company is segregated under the categories named Authentic Everyday Wear, Relaxed Casual Wear, Urban Casual Wear, Everyday Wear, Athleisure, Party Wear etc.
• It has a total of 1773 retail outlets out of which 89 are Large Format Stores, 379 are Exclusive Brand Stores and 1395 are Multi Brand Stores.

CONS

• The company works in a highly competitive segment.

Credo Brandings Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the Credo Brandings Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.