Mufti Menswear IPO opens for subscription on December 19, 2023 and closes on December 21, 2023. The allotment for the Mufti Menswear IPO is expected to be finalized on Friday, December 22, 2023. Mufti Menswear IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 27, 2023.
Mufti Menswear IPO is a book built issue of Rs 549.78 crores. The issue is entirely an offer for sale of 1.96 crore shares. Mufti Menswear IPO price band is set at ₹266 to ₹280 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,840. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹207,760, and for bNII, it is 68 lots (3,604 shares), amounting to ₹1,009,120.
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), ICICI Securities Limited and Keynote Financial Services Ltd are the book running lead managers of the Mufti Menswear IPO, while Link Intime India Private Ltd is the registrar for the issue.
| IPO Opening Date | December 19, 2023 |
|---|---|
| IPO Closing Date | December 21, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per share |
| IPO Price | ₹266 to ₹280 per share |
| Market Lot | 53 Shares |
| Min Order Quantity | 53 Shares |
| Listing At | BSE, NSE |
| Total Issue Size | 19,634,960 shares (aggregating up to ₹549.78 Cr) |
| Offer for Sale | 19,634,960 shares of ₹2 (aggregating up to ₹549.78 Cr) |
| Share holding pre issue | 64,301,880 |
| Share holding post issue | 64,301,880 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Mufti Menswear IPO opens on December 19, 2023, and closes on December 21, 2023.
| Basis of Allotment Date | December 22, 2023 |
|---|---|
| Initiation of Refunds | December 26, 2023 |
| Credit of Shares to Demat Account | December 26, 2023 |
| IPO Listing Date | December 27, 2023 |
Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,840 |
| Retail (Max) | 13 | 689 | ₹192,920 |
| S-HNI (Min) | 14 | 742 | ₹207,760 |
| S-HNI (Max) | 67 | 3,551 | ₹994,280 |
| B-HNI (Min) | 68 | 3,604 | ₹1,009,120 |
Incorporated in 1999, Credo Brands Marketing Limited offers casual clothing for men with its flagship brand "Mufti".
In 1998, the company's product range consisted only of shirts, T-shirts and trousers. Today, however, the company offers a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers and sweaters. These products are available in different categories, e.g. relaxed casual wear for vacations, authentic everyday wear, urban casual wear, party wear and athleisure.
The company currently operates 1,773 retail outlets across India (as of May 31, 2023). These include 379 exclusive brand stores (EBOs), 89 large format stores (LFSs) and 1,305 multi-brand stores (MBOs).
The company's reach extends from major metropolitan areas to Tier 3 cities. As of March 31, 2023, March 31, 2022, and March 31, 2021, the company is present in 582, 598 and 569 cities, respectively. As of May 31, 2023, the company's design team consisted of 15 members. They made it possible to create and produce more than 1,348 designs in the 2023 financial year.
The objectives of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges and (ii) carry out the Offer for Sale of up to 19,634,960 Equity Shares. Further, the Company expects that the proposed listing of its Equity Shares will enhance our visibility and brand image and provide liquidity to the Shareholders and a public market for the Equity Shares in India.
Mufti Menswear IPO is a main-board IPO of 19,634,960 equity shares of the face value of ₹2 aggregating up to ₹549.78 Crores. The issue is priced at ₹266 to ₹280 per share. The minimum order quantity is 53 Shares.
The IPO opens on December 19, 2023, and closes on December 21, 2023. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Mufti Menswear IPO opens on December 19, 2023 and closes on December 21, 2023.
Mufti Menswear IPO lot size is 53 Shares, and the minimum amount required is ₹14,840.
You can apply in Mufti Menswear IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services.
The finalization of Basis of Allotment for Mufti Menswear IPO will be done on Friday, December 22, 2023, and the allotted shares will be credited to your demat account by Tuesday, December 26, 2023.
Check the IPO allotment status.
The Mufti Menswear IPO listing date is December 27, 2023.
To Bid online, you need
Demat Account and Pan card.
Login to SMC account and
select the Mufti Menswear IPO
Enter UPI Id & Mobile number
Place your number of bids
with the exchange
A UPI mandate is sent to your
UPI App to block your funds.