Credo Brands Marketing Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Credo Brands

CMP

160.00

-0.13 (-0.08%)

₹280

Offer Price

₹ 549.78 Cr

Issue Size

₹ 14,840

Min Investment

51.85x

Times Subscribed

53

Lot size

Time Line

  • 19
    Dec 2023
    Open
  • 21
    Dec 2023
    Close
  • 22
    Dec 2023
    Finalisation of Basis of Allotment
  • 26
    Dec 2023
    Initiation of Refunds
  • 26
    Dec 2023
    Transfer of Shares to Demat Account
  • 27
    Dec 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • 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.

Products & Services

  • The Company is engaged in the retail sale of garments and accessories.

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.

Risks

  • 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.

  • While the company design the products in-house, its relies on outsourcing the manufacturing of finished products to third-party manufacturing partners, without exclusivity arrangements. Any inability to obtain sufficient quantities of apparel of the requisite quality in a timely manner and at acceptable prices, or a slowdown, shutdown or disruption in such thirdparty manufacturing partners` operations and performance, could adversely affect the company business, cash flows, results of operations and financial condition.

  • The company`s business is subject to seasonality. Lower sales and revenue may adversely affect its business, financial condition, and results of operations.

Company Promoters

Promoters Holding

Issue For IPO
12.68%
Pre Holding

60.90%

Post Holding

48.22%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 341.17 (39.40%) 498.18 (46.00%) 29.98 (-)
Gross Profit 341.17 (39.40%) 498.18 (46.00%) 29.98 (-)
Net Income 341.17 (39.40%) 498.18 (46.00%) 29.98 (-)
Assets 341.17 (39.40%) 498.18 (46.00%) 29.98 (-)
Liabilities 341.17 (39.40%) 498.18 (46.00%) 29.98 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Credo Brands Marketing Ltd 498.18 77.51 512.62 231.26 29.98 241.10 875.12 4.96 0.37
Aditya Birla Fashion & Retail Ltd 12,417.90 -36.00 17,041.28 17,041.28 -1.07 -0.38 35.26 -0.21 0.69
Go Fashion (India) Ltd 665.28 82.80 926.34 926.34 15.90 15.33 96.36 8.93 0.00
Arvind Fashions Ltd 4,421.08 36.71 3,672.02 3,672.02 4.03 2.76 82.23 0.99 0.66
Kewal Kiran Clothing Ltd 779.45 119.02 816.79 816.79 21.75 19.31 88.76 14.57 0.09

Book Running Managers

  • DAM Capital Advisors Ltd
  • ICICI Securities Ltd
  • Keynote Financial Services Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

B-8 MIDC Central Road Marol,
Nxt to MIDC Police Stn AnderiE,
Mumbai - 400093
Phone : +91 22 6141 7200 Email : investorrelations@mufti.in www.credobrands.in

Offer Related Information

Initial public offer of 19,634,960* equity shares of face value of Rs. 2 each ("Equity Shares") of Credo Brands Marketing Limited (the "Company" or "Issuer") for cash at a price of Rs. 280 per equity share (including a share premium of Rs. 278 per equity share) (the "Offer Price") aggregating to Rs. 549.78* crores ("Offer") comprising an offer for sale of 4,140,000* equity shares aggregating to Rs. 115.92* crores by Kamal Khushlani and 4,275,000* equity shares aggregating to Rs. 119.70*... More

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