The Mufti Jeans IPO is set to hit the market on December 19, 2023, and will close on December 21, 2023. The company aims to raise approximately ₹[.] crores through the IPO, which includes a fresh issue of ₹[.] crores and an offer for sale of up to 19,634,960 equity shares at ₹2 each. Here are some key details:
### About Credo Brands (Mufti Jeans):
– **Launch Year:** 1999
– **Brand:** Mufti
– **Founders:** Kamal Khushlani and Poonam Khushlani
– **Market Segment:** Mid-premium and premium men’s casual wear
– **Product Range:** Shirts, T-shirts, jeans, cargo, chinos, jackets, blazers, sweaters
– **Distribution Network:** 1,773 retail outlets, including Exclusive Brand Outlets (EBOs), Large Format Stores (LFSs), and Multi-Brand Outlets (MBOs)
– **Design Team:** 15 members focused on expanding product range
### IPO Details:
– **IPO Open Date:** December 19, 2023
– **IPO Close Date:** December 21, 2023
– **IPO Size:** Approx ₹[.] Crores
– **Fresh Issue:** Approx ₹[.] Crores
– **Offer for Sale:** Approx 19,634,960 Equity shares
– **Face Value:** ₹2 Per Equity Share
– **IPO Price Band:** ₹[.] to ₹[.] Per Share
– **Listing:** BSE & NSE
– **Retail Quota:** 35%
– **QIB Quota:** 50%
– **NII Quota:** 15%
– **Discount:** N/A
### IPO Timeline:
– **Anchor Investors Allotment:** December 18, 2023
– **Basis of Allotment:** December 22, 2023
– **Refunds:** December 26, 2023
– **Credit to Demat Account:** December 26, 2023
– **IPO Listing Date:** December 27, 2023
### IPO Lot Size:
– **Minimum Market Lot:** [.] shares with ₹[.] application amount
– **Retail Investors Maximum Lot:** 13 lots
### Objects of the Issue:
1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
2. Carry out the Offer for Sale of up to 19,634,960 Equity Shares. The company expects that the proposed listing will enhance visibility, brand image, provide liquidity to shareholders, and create a public market for the Equity Shares in India.
### IPO Valuation – FY2023:
– **Earning Per Share (EPS):** 29.98%
– **Price/Earning P/E Ratio:** N/A
– **Return on Net Worth (RoNW):** 29.98%
– **Net Asset Value (NAV):** ₹43.75 per Equity Share
### Peer Group:
– Aditya Birla Fashion and Retail Limited
– Go Fashion (India) Limited
– Arvind Fashions Limited
– Kewal Kiran Clothing Limited
### Company Promoters:
– Kamal Khushlani
– Poonam Khushlani
For a detailed review, you may refer to brokerage firms like Capital Market, Religare Broking, Hem Securities, and Arihant Capital once they update their analysis.
