Credo Brands Marketing IPO: 10 must-know points from RHP
₹549.78 crore, which is a complete offer for sale. The IPO garnered a decent response from investors on the first day, achieving an overall subscription rate of 2.08 times.
Specifically, the retail investors' portion exhibited a strong demand with a subscription rate of 3.28 times, the NII portion saw a subscription of 2.06 times, while the qualified institutional buyers (QIB) portion recorded a modest 1% subscription. Also Read: Retail investors in top gear at IPOs, drive oversubscriptions Credo Brands Marketing Limited (“Credo") was incorporated on April 29, 1999.
It offers casual clothing for men with its flagship brand, "Mufti." The company product mix has evolved significantly over the past several years, from consisting of only shirts, t-shirts, and trousers in 1998 to a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters in relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and also athleisure categories as of date. Also Read: IPOs today: 6 mainboard IPOs worth over ₹3,100 crore open for subscription Its products are available through a pan-India multichannel distribution network that it has built over the years, combining its exclusive brand outlets (“EBOs"), large format stores ("LFSs"), and multi-brand outlets (“MBOs"), as well as online channels comprising its website and other e-commerce marketplaces.
India has one of the youngest populations globally compared to other leading economies. The median age in India was estimated to be 28.7 years for CY 2022 as compared to 38.5 years and 38.4 years in the United States and China, respectively, and is expected to remain under 30 years until 2030.
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