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.
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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.