Credo Brands Marketing (Mufti) IPO subscribed 51.8 times, retail portion booked 19.9 times on final day

DAM Capital Advisors, ICICI Securities and Keynote Financial Services are acting as the book-running lead managers to the issue. Link Intime India is the registrar of the offer.

Credo Brands (Mufti) IPO was subscribed 51.85 times on the final day of bidding on December 21 with bids for 71.27 crore shares against an issue size of 1.37 crore shares.

Retail investors bought 19.94 times and high net-worth individuals picked nearly 55.52 times the allotted quota, while qualified institutional buyers picked 104.95 times their reserved portion.

The Rs 549.78 crore public offer which closed today, comprised only an offer-for-sale component. The price band for the issue had been fixed at Rs 266-280 per share with a lot size of a minimum 53 shares followed by multiples of 53.

Also read: Mufti parent Credo Brand's IPO subscribed nearly 7 times on Day 2

The Mufti menswear parent has already mobilized Rs 164.93 crore of the total issue size through the anchor book that was launched on December 18 at the upper price band.

In the year ended March 2023, Mufti recorded healthy growth in financials with net profit growing by 117 percent on-year to Rs 77.5 crore and revenue from operations rising 46 percent to 498.2 crore. However, For the April-June quarter of the current financial year, its net profit WAS Rs 8.57 crore on revenue of Rs 118.5 crore.

DAM Capital Advisors, ICICI Securities and Keynote Financial Services are acting as the book-running lead managers to the issue. Link Intime India is the registrar of the offer.

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