₹ 266 - ₹ 280
19-Dec-2023 - 21-Dec-2023
₹ 14840.00



19-Dec-2023 - 21-Dec-2023

₹ 266 - ₹ 280

Price Band

₹ 14840.00

Minimum Investment


Bid Lot



IPO Details

Offer for sale of 19,634,960 Equity Shares

Category % Shares/Amount
QIB 50% 9,817,480 Shares Rs. 274.89 Cr
HNI 1 5% 981,748 Shares Rs. 27.49 Cr @ 1323 forms for 1 X
HNI 2 10% 1,963,496 Shares Rs. 54.98 Cr @ 2646 forms for 1 X
Retail 35% 6,872,236 Shares Rs. 192.42 Cr @ 129665 forms for 1 X

BRLMs: DAM Capital, ICICI Securities, Keynote Financial

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
129665 forms for 1 X 1323 forms for 1 X 2646 forms for 1 X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 53 ₹ 14,840
Retail (Upto 2 Lakh) 13 689 ₹ 192,920
S-HNI (2 Lakh to 10 Lakh) 14 742 ₹ 207,760
S-HNI (2 Lakh to 10 Lakh) 67 3551 ₹ 994,280
B-HNI (Above 10 Lakh) 68 3604 ₹ 1,009,120

IPO Timeline

  • Open Date

  • Close Date

  • Basis of Allotment Date

  • Initiation of Refunds

  • Credit Shares to Demat A/c

  • IPO Listing Date


Subscription as on
21-Dec-2023 16:41

Category Book Size Subscription No. of Times
QIB 3,926,992 ₹ 109.96 Cr. 412,137,752 ₹ 11539.86 Cr. 104.95x
HNI (<10 LAKH) 981,748 ₹ 27.49 Cr. 53,525,601 ₹ 1498.72 Cr. 54.52x
HNI2 (>10 LAKH) 1,963,496 ₹ 54.98 Cr. 109,416,751 ₹ 3063.67 Cr. 55.73x
RETAIL 6,872,236 ₹ 192.42 Cr. 132,372,005 ₹ 3706.42 Cr. 19.26x
Total 13,744,472 707,452,109 51.47x
Category Book Size Subscription No. of Times
QIB 3,926,992 ₹ 109.96 Cr. 412,137,752 ₹ 11539.86 Cr. 104.95x
HNI (<10 LAKH) 981,748 ₹ 27.49 Cr. 53,525,601 ₹ 1498.72 Cr. 54.52x
HNI2 (>10 LAKH) 1,963,496 ₹ 54.98 Cr. 109,416,751 ₹ 3063.67 Cr. 55.73x
RETAIL 6,872,236 ₹ 192.42 Cr. 132,372,005 ₹ 3706.42 Cr. 19.26x
Total 13,744,472 707,452,109 51.47x

*Excluding Anchor

Total No. of Application Approx : ~2285646 (17.63 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • Credo Brands Marketing Limited (“Credo”) was incorporated on April 29, 1999. Company’s products are classified into 3 broad categories, being top-wear, bottom-wear and outer-wear across a range of price points.
  • Launched in the year 1998, the brand “Mufti” is a recognized brand with 25 years of presence in India. The brand was created as an alternative dressing solution and was designed to deliver a casual alternative with a focus on creative, bold, and expressive clothing for the contemporary Indian man who wanted something more stylish than what was commonly available.
  • Company’s product mix has evolved significantly over the past several years from consisting of only shirts, t-shirts, and trousers in the year 1998 to a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers and sweaters in relaxed holiday casuals, authentic daily casuals to urban casuals, party wear and athleisure categories.
  • Company’s products are available through a pan-India multichannel distribution network that they have built over the years comprising of their exclusive brand outlets (“EBOs”), large format stores (“LFSs”) and multi-brand outlets (“MBOs”), as well as online channels comprising of their website and other e-commerce marketplaces.
  • Out of total 404 EBOs as of September 30, 2023, approximately 66.34% of their EBOs are on the high streets, approximately 32.18% are in malls, approximately 1.49% of their EBOs are in airports.
  • As of September 30, 2023, their design team has 17 members which enabled the company to create and produce more than 682 designs.
  • The company has 16 distributors as on September 30, 2023, for distribution to MBOs. They also have an online presence which is rapidly growing wherein their customers can shop through their website,, as well as through various e-commerce marketplaces.
  • The company is asset-light with respect to their plant, property, and equipment, primarily due to outsourcing of their manufacturing operations. They comprehensively focus on the design of products and outsource the manufacturing of products to various manufacturing partners.
Read More


  • Strong brand equity with presence across categories
  • Multi-channel pan-India distribution network
  • Scalable asset light model
  • Strong in-house design competencies to deliver innovative and high-quality products with end-to-end tech-enabled supply chain capabilities
  • Financially stable business model
  • Experienced Promoter and senior management team

Company Promoters

Kamal Khushlani and Poonam Khushlani are the promoter of the company.

Company Financials

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

Objects of the Issue

  • General Corporate purpose

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

Check Allotment