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IPO Status: Listed [19th Dec 2023 to 21st Dec 2023]
Mufti Jeans IPO, a Mainline IPO of ₹549.78 Cr was launced on 19-12-2023 to 21-12-2023 and the shares got listed on BSE, NSE on 27-12-2023.
The public issue of Mufti Jeans IPO (MUFTI,544058) was offered at ₹280.00 per share and the ipo was listed at ₹282.35. It has delivered listing gain of 0.84%.
As the minimum lot size was 53 shares, the IPO has offered Rs 124.5500000000012 per lot return on listing.
| IPO Issue Opening Date: | 19th Dec 2023 |
| IPO Issue Closing Date: | 21st Dec 2023 |
| IPO Issue Price: | ₹266.00-280.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹549.78 Cr |
| Offer for Sale: | ₹549.78 Cr |
| Face Value: | ₹2 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 66.66% |
| Promoter Holding Post IPO: | 53.66% |
| Allotment Status: | Allotment Status |
| BSE Code: | 544058 |
| NSE Code: | MUFTI |
Get important updates regarding Mufti Jeans IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 22nd Dec 2023 |
| Refunds Initiation* | 26th Dec 2023 |
| Credit of Shares to Demat* | 26th Dec 2023 |
| IPO Listing Date* | 27th Dec 2023 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹266.00-280.00 |
| Market Lot: | 53 Shares |
| 1 Lot Amount: | ₹14840 |
| Min Small HNI Lots(2-10 Lakh): | 742 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 3604 shares (68 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 27-12-2023 | 280.00 | 80 | 3200/44800 | ₹360 (28.57%) | 27-Dec-2023 6:03 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Credo Brands Marketing Limited, also known as Mufti Jeans, was established in 1999 and is one of the largest indigenous brands in the Indian men's casual wear market in the mid to upper price segment, in terms of market share in FY 2022. The brand was created as a clothing alternative. It was intended to provide a casual alternative focusing on creative, bold and expressive clothing for the modern Indian man who wants a little more style than the usual offering.
The company's products are available through an India-wide multi-channel distribution network that has been built over the years and consists of exclusive branded stores (“EBOs”), large format stores (“LFSs”) and multi-branded stores (“MBOs”) as well as online channels such as its website and other e-commerce marketplaces. The company's multi-channel presence is strategically planned to ensure that its products are available in all categories through consumers’ preferred shopping channels.
In addition, the www.muftijeans.in website has been updated to reflect this new philosophy. As part of this reinvention of the brand, a new merchandise architecture has been developed to increase the share of wallet by offering designs suitable for specific occasions in customers' lives, from relaxed casual wear for vacations to authentic everyday wear, urban casual wear, party wear and athleisure.
| Incorporation | Sector | IPO Issue Size | Website |
| 1999 | Garments & Apparels | ₹549.78 Cr | https://www.credobrands.in/ |
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.
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 3,926,992 (28.57%) | 2,945,244 (21.43%) | 6,872,236 (50%) | 13,744,472 | |
| 1 | 19th Dec 2023 19:04 | 0.01x | 2.08x | 3.37x | 2.13x |
| 2 | 20th Dec 2023 19:04 | 0.35x | 11.57x | 9.13x | 7.14x |
| 3 | 21st Dec 2023 19:04 | 104.95x | 55.52x | 19.94x | 51.85x |
Credo Brands Marketing Limited's revenue increased by 43.54% and profit after tax (PAT) rose by 116.88% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 592.38 | 574.48 | 476.05 | 416.99 |
| Revenue | 119.43 | 509.32 | 354.84 | 261.15 |
| Profit After Tax | 8.58 | 77.51 | 35.74 | 3.44 |
| Net Worth | 289.88 | 281.35 | 235.73 | 192.33 |
| Reserves and Surplus | ||||
| Total Borrowing | 11.30 | 10.08 | 13.46 | 15.23 |
| Amount in ₹ Crore | ||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Credo Brands Marketing Limited | 12.06 | 12.06 | 43.75 | 29.98 | Consolidated | |
| Aditya Birla Fashion and Retail Limited | -0.38 | -0.38 | 35.24 | -1.18 | Consolidated | |
| Go Fashion (India) Limited | 15.33 | 15.33 | 96.36 | 88.24 | 17.27 | Consolidated |
| Arvind Fashions Limited | 2.77 | 2.76 | 68.48 | 157.08 | 4.42 | Consolidated |
| Kewal Kiran Clothing Limited | 19.31 | 19.31 | 88.76 | 40.24 | 23.22 | Consolidated |
Last Updated on 31-Dec-2023 06:02:44
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Mufti Jeans IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Mufti Jeans IPO with Zerodha.
Alternate approch to apply in Mufti Jeans IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Mufti Jeans IPO Review and Important Updates
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To subscribe or apply in Mufti Jeans IPO, you can use the following methods:
| Mufti Jeans IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Mufti Jeans IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Mufti Jeans IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Mufti Jeans IPO. Most of the Syndicate Banks provide access to apply in Mufti Jeans IPO via ASBA process. You must have your net banking access, DP ID information to apply in Mufti Jeans IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Mufti Jeans IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Mufti Jeans IPO Review and Important Updates
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Applying in Mufti Jeans IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Mufti Jeans IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Mufti Jeans IPO, please refer article >> Link
Mufti Jeans IPO Review and Important Updates
Steps to download the online application form for Mufti Jeans IPO
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Mufti Jeans IPO is going to be list on 27-12-2023. NSE Code for Mufti Jeans is MUFTI. BSE Code for Mufti Jeans is 544058.
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Mufti Jeans IPO Allotment Date is 22-12-2023.
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