Credo Brands Marketing is set to launch its Initial Public Offering (IPO) with a price band ranging from ₹266 to ₹280 per equity share, each having a face value of ₹2. The subscription period for the IPO is from Tuesday, December 19, to Thursday, December 21. Allocation to anchor investors is scheduled for Monday, December 18.
The floor price, set at 133 times the face value, and the cap price, set at 140 times the face value, establish the pricing range for the IPO. The price-to-earnings ratio, based on diluted earnings per share for the financial year 2023, stands at 22.06 times at the floor price and 23.22 times at the cap price.
Investors can participate in the IPO with a lot size of 53 equity shares, and subsequent multiples of 53 equity shares. The offering reserves up to 50% of the shares for qualified institutional buyers (QIBs), a minimum of 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The basis of allotment for Credo Brands IPO is expected to be finalized on Friday, December 22. Refunds will be initiated on Tuesday, December 26, and shares will be credited to the demat accounts of allottees on the same day.
Credo Brands is anticipated to be listed on the BSE and NSE on Wednesday, December 27, complying with the mandatory T+3 listing norm effective from December 1, 2023.
