Credo Brands Marketing has fixed the price band at ₹266 to ₹280 per equity share for its initial public offer. The IPO will open on December 19 for subscriptions and close on December 21.
Investors can bid for a minimum of 53 equity shares and in multiples of 53 equity shares thereafter. The offer of a face value of ₹2 per equity share is entirely an offer for sale up to 1,96,34,960 equity shares.
Kamal Khushlani launched the “Mufti” brand in menswear 25 years ago to provide a meaningful wardrobe solution for customers. Its product range includes shirts, t-shirts, jeans, and chinos that cater to all year-round clothing.
Also read: Fed cheer takes market to fresh highs
Mufti’s product mix has evolved significantly over the past several years from consisting of 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, urban casuals, party wear, and also athleisure categories as of date.
The products are available through a pan-India multichannel distribution network, including exclusive brand outlets, large format stores, and multi-brand outlets, in addition to online channels and other e-commerce marketplaces.
As of September-end, 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 in 591 cities.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.