MUMNAI, Dec 28 (The CONNECT) – The equity shares of Mumbai-based retailer Credo Brands Marketing (MUFTI) closes 12% premium on its debut yesterday
The scrip listed Rs 282 per share on BSE and Rs 282.35 per share on NSE. The company’s share price closed at Rs 312.50 per share on the BSE, a 11.61% premium, and at Rs 311 per share on the NSE, a 11.07% premium.
As per NSE, the total quantity traded stood at 312.05 lakh shares, on BSE the total Quantity stood at 18.29 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 988.99 crore.
Kamal Khushlani, MD – Credo Brands Marketing Limited (Pictured with BSE Bull), this milestone is a testament to the collective efforts and resilience of “our team and partners”.
The Market Capitalization of the Company at today’s closing price stood at Rs. 2,009.43 Crore as per BSE and Rs. 1999.79 Crore as per NSE.
The Initial Public Offering of Credo Brands Marketing Limited was subscribed 51.85 times. Retail Portion was subscribed 19.94 times, Non-Institutional Investors Portion with 55.52 times, whereas Qualified Institutional Buyer Portion subscribed 104.95 times.
Kamal Khushlani launched the brand “Mufti” 25 years ago with a vision to redefine menswear. It believes in providing a meaningful wardrobe solution for multiple occasions in a customer’s life, with our product offerings ranging from shirts to t- shirts to jeans to chinos, that caters to all year-round clothing. The products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends.
Mufti’s product mix has evolved significantly over the past several years from only shirts and trousers to a wide range of products including t-shirts, sweatshirts, jeans, cargos, chinos, jackets, blazers and sweaters in relaxed holiday casuals, authentic daily casuals to urban casuals, party wear and also athleisure categories as on date.
The products are available through a pan-India multichannel distribution network that we have built over the years comprising of its exclusive brand outlets , large format stores and multi-brand outlets, as well as online channels comprising the website and other e-commerce marketplaces. As of September 30, 2023, it has a pan-India presence through 1,807 touchpoints consisting of 404 EBOs, 71 LFSs and 1,332 MBOs, with its reach extending from major metros to Tier-3 cities, with a presence across 591 cities.
