Mufti jeans-owner Credo Brands Marketing raises Rs 165 cr via anchor book ahead of IPO

Credo Brands Marketing Mufti IPO opens on December 19

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26 Aug, 2025 12:21

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Credo Brands Marketing, the parent of the Mufti Menswear brand, mobilised Rs 164.93 crore from several anchor investors on December 18.

The said fundraising was conducted just a day before the issue opening on December 19. The last day for subscription to the IPO will be December 21.

Integrated Core Strategies, Morgan Stanley Asia (Singapore), Nippon Life India, HSBC Mutual Fund, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, SBI General Insurance Company, JM Financial Mutual Fund, Reliance General Insurance Company, and Subhkam Ventures are the investors in the anchor book of the IPO.

The Kamal Khushlani and Poonam Khushlani-promoted company in its filing to exchanges said it has finalised the allocation of 58,90,488 equity shares to anchor investors at Rs 280 per equity share.

"Out of the total allocation of 58,90,488 equity shares to the anchor investors, 24,99,167 shares were allocated to 3 domestic mutual funds, which have applied through a total of 3 schemes," Credo said.

Also read: Mufti Menswear IPO: 10 things to know before subscribing to Rs 549-crore issue

Incorporated in 1999, Credo Brands Marketing, which offers casual clothing for men with its flagship brand Mufti, is planning to raise Rs 549.78 crore via an initial public offering at the upper price band.

The public issue comprises only an offer-for-sale (OFS) by the existing shareholders. Kamal Khushlani, Poonam Khushlani, Concept Communication, Bela Properties, Jay Milan Mehta and Sagar Milan are the selling shareholders in the OFS.

The price band for the issue has been fixed at Rs 266-280 a share.

The book-running lead managers to the issue are DAM Capital Advisors, ICICI Securities and Keynote Financial Services.

Also read: Credo Brands eyes premium positioning of Mufti brand