Credo Brands Marketing Ltd IPO Timeline

Credo Brands Marketing Ltd IPO opens on 19-Dec-2023, and closes on 21-Dec-2023. The Credo Brands Marketing Ltd IPO bid date is from 19-Dec-2023 to 21-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Credo Brands Marketing Ltd IPO Opening Date 19-Dec-2023
Credo Brands Marketing Ltd IPO Closing Date 21-Dec-2023
Basis of Allotment 22-Dec-2023
Initiation of Refunds 26-Dec-2023
Credit of Shares to Demat 26-Dec-2023
Credo Brands Marketing Ltd IPO Listing Date 27-Dec-2023

Credo Brands Marketing Ltd IPO Lot Size

Credo Brands Marketing Ltd IPO lot size is 53 shares. A retail-individual investor can apply for up to 13 lots (689 shares or 192920).

Application Lots Shares Amount
Minimum 1 53 ₹14840
Maximum 13 689 ₹192920

Credo Brands Marketing Ltd IPO Details

Credo Brands Marketing Ltd IPO Date 19-Dec-2023 to 21-Dec-2023
Credo Brands Marketing Ltd IPO Face Value Shares of ₹2 per share
Credo Brands Marketing Ltd IPO Price ₹266 to ₹280 per share
Credo Brands Marketing Ltd IPO Lot Size 53
Issue Size Shares of ₹2 (aggregating up to ₹549.78 Cr)
Fresh Issue -
Offer for Sale Shares of ₹2 (aggregating up to ₹549.78 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 3926992
Retail Shares Offered Not less than 6872236
NII (HNI) Shares Offered Not less than 2945244
Company Promoters Kamal Khushlani, Poonam Khushlani.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Listing the Equity Shares on the Stock Exchanges

Company Financials

Credo Brands Marketing Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 574.48 511.32 77.45
03-2022 476.03 354.83 33.75
03-2021 292.45 295.07 9.26
Amount in ₹ Crore
  • Strong brand equity with presence across categories.
  • Multi-channel pan-India distribution network.
  • Scalable asset light model.
  • Strong in-house design competencies to deliver innovative and high-quality products with end-to-end tech-enabled supply chain capabilities
  • Financially stable business model.
  • Experienced Promoter and senior management team.
  • The company' business is primarily concentrated on the sale of men's casual western wear and is vulnerable to variations in demand and changes in consumer preferences which could have an adverse effect on its business, results of operations and financial condition.
  • All the products are sold under a single brand, ufti'. Any inability to effectively market the company products, or any deterioration in public perception of its brand, could affect consumer footfall and consequently adversely impact the business, financial condition, cash flows and results of operations.
  • The company's inability to grow the business across emerging markets in India and effectively manage or expand its retail network may adversely impact the company business, results of operations and financial condition.
  • While the company design the products in-house, its relies on outsourcing the manufacturing of finished products to third-party manufacturing partners, without exclusivity arrangements. Any inability to obtain sufficient quantities of apparel of the requisite quality in a timely manner and at acceptable prices, or a slowdown, shutdown or disruption in such thirdparty manufacturing partners' operations and performance, could adversely affect the company business, cash flows, results of operations and financial condition.
  • The company's business is subject to seasonality. Lower sales and revenue may adversely affect its business, financial condition, and results of operations.
  • The company may not be able to procure sufficient quantity or quality of products from third party raw material suppliers in a timely manner and at an acceptable price and this may adversely affect the business, results of operations and financial conditions.
  • The company is dependent on third party manufacturing partners for the finished products. Its may not be able to procure sufficient quantity or quality of finished goods from the manufacturing partners in a timely manner and at an acceptable price and this may adversely affect the business, results of operations and financial conditions.
  • Its business depends on continual purchases of the products and timely payments by its franchise stores, both in short and long term. Any delay or failure in sale of products or payments at the franchise stores or any disputes with franchisees may adversely impact its business, cash flows and results of operations.
  • The company operate in highly competitive markets in each of the product segments in both offline and online channels and an inability to compete effectively may adversely affect its business, results of operations and financial condition.
  • Pricing pressure from the competitors may affect its ability to maintain or increase the product prices and, in turn, the company revenue from product sale, gross margin and profitability, which may materially and adversely affect its business, cash flows, results of operations and financial condition.
  • The company does not have any definitive agreements with its manufacturing partners and third-party suppliers for the supply of the raw materials, merchandise and apparels. Further, the company do not have fixed terms of trade with majority of the manufacturing partners or third-party suppliers for supply of products.
  • The company has incurred indebtedness and an inability to comply with repayment and other covenants in the financial arrangements could adversely affect its business and financial condition. Further, certain of the financial agreements involve variable interest rates and an increase in interest rates may adversely affect the company results of operations and financial condition.
  • Failure in complying with quality control processes may have an adverse impact on its business, results of operations and financial conditions.
  • If the company is unable to raise additional capital, either through equity or debt, its business prospects could be adversely affected.
  • Any downgrade in its credit ratings could increase the borrowing costs, affect the company ability to obtain financing, and adversely affect its business, results of operations and financial condition.
  • The company may be unable to adequately obtain, maintain, protect, and enforce its intellectual property rights including 'Mufti', and inability to protect or use the intellectual property rights may adversely affect its reputation, business and operations.
  • The compnay is exposed to the risks associated with leasing real estate in case the current location of the exclusive brand outlets ("EBOs"), warehouse and the Registered and Corporate Office become unattractive or in case the ompany is unable to comply with the terms and conditions of the lease agreements then its may shift to the EBOs new locations, which may adversely affect the company business, cash flows, results of operations and financial condition.
  • The company has warehouses at Bengaluru, Karnataka and Mumbai, Maharashtra and majority of the manufacturing partners are situated in Karnataka and Tamil Nadu which may expose its supply chain to regional risks, which may adversely affect the company business, cash flows, financial condition and results of operations.
  • The company may be subject to fraud, theft or such similar incidents which may have an adverse effect on its business operations and financial conditions.
  • The company relies on third-party transportation providers for the transportation of the finished products and any disruption in such delivery or failure by third parties in transporting the products may adversely affect its operations.
  • For ensuring success of the business, consistency and quality in customer service is critical which depends on its ability to recruit and retain skilled personnel. Any failure in this respect could materially and adversely impact the company business, financial conditions, cash flows and results of operations.
  • The company engage contract labourers at its warehouse and any failure by the vendors from whom such contract labourers are engaged to pay wages or dues on time could subject it to financial liability, in turn adversely impacting the company profitability and results of operations.
  • The company is subject to payment-related risks, including risks associated with cash payments, online payment mechanisms and payment processing risks.
  • The company insurance policies may not be adequate or sufficient to cover the losses if the company incur huge losses or liabilities that significantly exceed its insurance coverage.
  • Its may suffer from labour shortages, strikes, slowdowns, work stoppages and increased wage costs by the employees, manufacturing partners and third-party suppliers or any other kind of disputes with its employees.
  • The company sell the products through online e-commerce platforms on a fixed-margin model and therefore, cannot control the pricing strategies employed by such e-commerce platforms to entice customers.
  • The growth of online retail platforms and current trends of discounts and price strategies may adversely affect its pricing ability, which may have an adverse effect on the company results of operations and financial condition.
  • If the company launch any new products which are not successful in the market as its anticipate, the company business, cash flows, results of operations and financial condition may be adversely affected.
  • If The company is unable to protect the data related to electronic mode of payments, or any other personal information that its collect from customers, the company brand reputation could be significantly harmed.
  • The company's inability to adapt with new technologies in the operations or technology failures or breach of data security could disrupt the operations and may adversely affect the company business and results of operations.
  • The Company being in the retail sector requires significant amount of working capital for a continued growth. The company inability to meet its working capital requirements may have an adverse effect on the company results of operations.
  • The company has contingent liabilities that have not been provided for and commitments in the financial statements, which if materialize, may adversely affect its financial condition.
  • The company Statutory Auditors have included an emphasis of matter in connection with the financial year ended March 31, 2021 in their examination report on the Restated Consolidated Financial Information and have included certain remarks in connection with the Companies (Auditor's Report) Order, 2020 in their audit report on standalone financial statements of the Company for the financial year ended March 31, 2023.
  • The company has delayed payments of certain statutory dues and have also paid interest and fees towards such delayed payments.
  • The COVID-19 pandemic has had an adverse effect and any future pandemic may have adverse effects on its business, results of operations, financial condition and cash flows.
  • Expand its domestic store network in existing and new cities.
  • Enhancement of brand appeal through focused marketing initiatives.
  • Deeper penetration to grow sales through online channels by capitalizing on the increasing e-commerce demand in Indian retail.
  • Focused expansion of its product portfolio to become a men's lifestyle brand.
  • Leverage technology to improve supply-chain management and enhance customer experience.

Credo Brands Marketing Ltd IPO Promoter Holding

Pre Issue Share Holding 60.90%
Post Issue Share Holding 48.22%

Credo Brands Marketing Ltd IPO Subscription Status (Bidding Detail)

The Credo Brands Marketing Ltd IPO is subscribed 51.85 times on Dec 21, 2023 05:00:00 PM. The public issue subscribed 19.94 times in the retail category, 104.95 times in the QIB category, and 55.52 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 104.95 55.52 19.94 - 51.85

Credo Brands Marketing Ltd IPO Prospectus

Credo Brands Marketing Ltd IPO Listing Date

Listing Date 27 Dec 23
BSE Script 544058
NSE Symbol MUFTI
Listing In BSE, NSE
ISIN INE220Q01020
IPO Price ₹280
Face Value ₹2

Credo Brands Marketing Ltd IPO Registrar

Link Intime India Pvt Ltd

Phone: +91 81081 14949
Email: credobrands.ipo@linkintime.co.in
Website: www.linkintime.co.in

Credo Brands Marketing Ltd IPO Lead Manager(s)

  1. DAM Capital Advisors Ltd
  2. ICICI Securities Ltd
  3. Keynote Financial Services Ltd

FAQs on Credo Brands Marketing Ltd IPO

Credo Brands Marketing Ltd IPO, which opens for subscription from 19-Dec-2023 to 21-Dec-2023 has an issue size of ₹549.78 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Credo Brands Marketing Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Credo Brands Marketing Ltd IPO Opens for subscription from 19-Dec-2023 to 21-Dec-2023.

The lot size of Credo Brands Marketing Ltd is 53 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14840 and ₹192920 respectively.

Allotment date for Credo Brands Marketing Ltd is 22-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 26-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 26-Dec-2023.

The registrar for Credo Brands Marketing Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Credo Brands Marketing Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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