Credo Brands Marketing IPO: Issue opens for subscription, check live details here

19 Dec 2023 , 11:48 AM

The initial public offering (IPO) of Credo Brands Marketing, the company behind the ‘Mufti’ brand, has officially opened for subscription. This IPO is structured as a complete offer for sale (OFS) of 1.96 crore shares, meaning that the proceeds will go entirely to the selling shareholders and not the company. To participate, investors can subscribe to the IPO here.

In the initial hours, the IPO has garnered bids for 66,27,915 equity shares out of the 1,37,44,472 shares available for subscription. As of 11:40 AM, the overall subscription stands at 48%. Notably, the retail portion of the IPO has been subscribed to 84% of the available quota, while non-institutional investors have achieved a 30% subscription. However, the qualified institutional investors’ portion is yet to be subscribed.

Credo Brands has set the price band for the IPO at Rs 266 to Rs 280 per equity share. Interested bidders can apply in lots, with one lot comprising 53 company shares.