Credo Brands Marketing Ltd IPO
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Credo Brands Marketing Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 196.35 L | ₹ 196.35 L | ₹ 68.72 L | ₹ 404.25 L | BSE | ₹ 549.78 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 19 Dec, 23 | 21 Dec, 23 | 53 | ₹ 14,098 | Book Building | 27 Dec, 23 |
Credo Brands Marketing Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 9817480 | 0 |
| NII | 0x | 2945244 | 0 |
| Retail | 0x | 6872236 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 19634960 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Credo Brands Marketing Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 567.33 | 498.18 | 341.17 |
| EBITDA | 203.31 | 210.61 | 137.62 |
| PAT | 59.16 | 77.45 | 33.75 |
| Total Assets | 443.02 | 350.60 | 302.49 |
| Share Capital | 12.90 | 3.22 | 3.19 |
| Total Borrowings | 140.93 | 101.10 | 75.23 |
| Operating Activities (Net Cash) | 121.39 | 130.88 | 79.64 |
| Investing Activities (Net Cash) | -0.83 | -0.21 | -0.55 |
| Financing Activities (Net Cash) | 140.93 | 101.10 | 75.23 |
| Net Cashflow | 2.48 | 8.89 | 51.33 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Credo Brands Marketing Ltd
Credo Brands Marketing Limited was incorporated as a private limited company in the name of `Credo Brands Marketing Private Limited' in Mumbai, Maharashtra, India under the Companies Act, 1956 pursuant to a certificate of incorporation dated April 29, 1999 issued by the Registrar of Companies, Maharashtra at Mumbai (the RoC). Subsequently, the Company was converted from a private limited company to a public limited company and the name of the Company was changed to `Credo Brands Marketing Limited', pursuant to a board resolution dated April 7, 2023, and a special resolution passed by its shareholders on April 18, 2023, consequent to which a fresh certificate of incorporation dated May 11, 2023, was issued by the RoC to the Company.
Apparel market size in India was valued at INR 5,476 Bn (USD 68.45 Bn) in FY 2023 and projected to grow at a CAGR of ~18% between FY 2023 and FY 2027 to reach INR 10,683 Bn (USD 133.5 Bn) by FY 2027 on the back of factors like higher brand consciousness, increasing digitization, greater purchasing power and increasing urbanization. Mufti operates in the apparel market.
The Company's brand Mufti was launched by its Promoter, Kamal Khushlani, 25 years ago with a vision to redefine menswear. 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. The Company is engaged in the retail sale of garments and accessories, and it does not manufactures any apparel. The Company sells its products through its distribution network comprising exclusive brand outlets (EBOs), large format stores (LFSs), multi-brand outlets (MBOs) and online channels. It believes in providing a meaningful wardrobe solution for multiple occasions in a customer's life, with its product offerings ranging from shirts to t-shirts to jeans to chinos, which caters to all year-round clothing. Its products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends. The listed competitors of the Company are Aditya Birla Fashion and Retail Limited, Go Fashion (India) Limited, Arvind Fashions Limited and Kewal Kiran Clothing Limited.
Peer Comparison:
- Aditya Birla Fashion & Retail Ltd
- Go Fashion (India) Ltd
- Arvind Fashions Ltd
- Kewal Kiran Clothing Ltd
Credo Brands Marketing Ltd IPO Key Points
Strengths
- 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.
Risk
- The company' business is primarily concentrated on the sale of men's casual western wear and is vulnerable to variations in demand and changes in consumer preferences which could have an adverse effect on its business, results of operations and financial condition.
- All the products are sold under a single brand, ufti'. Any inability to effectively market the company products, or any deterioration in public perception of its brand, could affect consumer footfall and consequently adversely impact the business, financial condition, cash flows and results of operations.
- The company's inability to grow the business across emerging markets in India and effectively manage or expand its retail network may adversely impact the company business, results of operations and financial condition.
Strategy
- Expand its domestic store network in existing and new cities.
- Enhancement of brand appeal through focused marketing initiatives.
- Deeper penetration to grow sales through online channels by capitalizing on the increasing e-commerce demand in Indian retail.
- Focused expansion of its product portfolio to become a men's lifestyle brand.
- Leverage technology to improve supply-chain management and enhance customer experience.
- 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.
How To Apply for Credo Brands Marketing Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
