The Credo Brands Marketing IPO GMP became a major discussion point in the Indian primary market when the company launched its public issue in December 2023. Known for its popular men’s fashion brand Mufti, Credo Brands Marketing Limited attracted strong investor interest, both in the official subscription data and the unofficial grey market.
This article provides a complete and rewritten overview of the Credo Brands Marketing IPO, focusing on GMP trends, IPO details, financials, subscription response, GMP tracking by date, and a comparison with other IPOs from the same period.
About Credo Brands Marketing Limited
Credo Brands Marketing Limited is a lifestyle and fashion company offering an end-to-end range that extends to designing, marketing and retailing of casual mens apparels & accessories. The company runs under its flagship brand ‘Mufti’, a household name with a very strong brand recall in India.
Company Snapshot
| Particular | Details |
|---|---|
| Company Name | Credo Brands Marketing Limited |
| Flagship Brand | Mufti |
| Founded | 1999 |
| Industry | Apparel & Fashion Retail |
| Product Range | Shirts, jeans, trousers, jackets, accessories |
| Business Model | Asset-light, outsourced manufacturing |
| Market Presence | Pan-India |
| IPO Type | Offer for Sale (OFS) |
| Listing Exchanges | NSE & BSE |
Credo Brands Marketing IPO Details
The IPO of Credo Brands Marketing was entirely an Offer for Sale, meaning the company did not receive fresh capital. Existing shareholders diluted part of their holdings.
IPO Information Table
| IPO Particulars | Details |
|---|---|
| IPO Opening Date | 19 December 2023 |
| IPO Closing Date | 21 December 2023 |
| Price Band | ₹266 – ₹280 per share |
| Face Value | ₹2 |
| Issue Size | ~₹550 crore |
| Shares Offered | 1.96 crore |
| Lot Size | 53 shares |
| Minimum Investment | ₹14,840 (approx at upper band) |
| Issue Type | Book-Built Issue |
| Registrar | Link Intime India |
What Is IPO GMP and Why It Matters
The Grey Market Premium (GMP) refers to the price at which IPO shares are traded unofficially before listing. Though not regulated, GMP gives a rough idea of market sentiment.
How GMP Is Interpreted
| GMP Status | Market Sentiment |
|---|---|
| Positive GMP | Strong demand, possible listing gains |
| Flat GMP | Neutral outlook |
| Negative GMP | Weak demand, listing risk |
It is important to note that GMP is speculative and should never be the sole factor for investment decisions.
Credo Brands Marketing IPO GMP – Date-Wise Tracking Table
Below is a GMP tracking table by date, compiled from multiple market sources during the IPO timeline.
Credo Brands Marketing IPO GMP by Date
| Date | IPO GMP (₹) | Estimated Listing Price (₹) | Market Sentiment |
|---|---|---|---|
| 11 Dec 2023 | 135 | 415 | Extremely bullish |
| 13 Dec 2023 | 120 | 400 | Strong demand |
| 15 Dec 2023 | 105 | 385 | Positive |
| 18 Dec 2023 | 95 | 375 | Stable optimism |
| 19 Dec 2023 | 90 | 370 | Good interest |
| 20 Dec 2023 | 85 | 365 | Slight cooling |
| 21 Dec 2023 | 80 | 360 | Cautious optimism |
| Listing Day | 65–70 | ~345–350 | Moderated expectations |
Note: Estimated listing price = Upper price band (₹280) + GMP.
Subscription Status of Credo Brands IPO
The IPO was heavily oversubscribed, particularly by institutional investors, reflecting confidence in the brand and business model.
Category-Wise Subscription Table
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers (QIB) | 104.95× |
| Non-Institutional Investors (NII) | 55.52× |
| Retail Individual Investors (RII) | 19.94× |
| Overall Subscription | 51.85× |
High QIB participation played a crucial role in supporting the Credo Brands Marketing IPO GMP during the subscription period.
Financial Performance Overview
Credo Brands showed strong financial growth before the IPO, which supported premium valuation expectations.
Financial Summary Table
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) |
|---|---|---|
| FY21 | 223 | 2.7 |
| FY22 | 341 | 36.1 |
| FY23 | 498 | 77.5 |
Key Observations
-
Revenue growth accelerated post-pandemic
-
Profit margins improved significantly
-
Strong operating leverage visible
Comparison: Credo Brands IPO GMP vs Other IPOs
To better understand the credo brands marketing ipo gmp, let’s compare it with other IPOs launched around the same time.
IPO GMP Comparison Table
| IPO Name | Issue Price (₹) | Peak GMP (₹) | Subscription | Listing Outcome |
|---|---|---|---|---|
| Credo Brands Marketing | 280 | 135 | 51.85× | Moderate premium |
| Tata Technologies | 500 | 900 | 69× | Blockbuster |
| RBZ Jewellers | 100 | 40 | 37× | Mild gains |
| Happy Forgings | 850 | 450 | 82× | Strong debut |
| DOMS Industries | 790 | 750 | 93× | Exceptional |
Insight:
While Credo Brands had a healthy GMP, it was lower than mega IPOs like Tata Technologies or DOMS Industries, which had larger growth narratives and stronger institutional backing.
Strengths Supporting Credo Brands Marketing IPO GMP
-
Well-established brand with loyal customer base
-
Pan-India retail presence across EBOs and MBOs
-
Asset-light business model
-
Strong revenue and profit growth
-
High institutional subscription
Risks Investors Should Consider
-
Fashion retail is highly competitive
-
Demand depends on consumer spending trends
-
IPO was purely OFS (no fresh capital)
-
GMP volatility close to listing
Listing Performance Overview
The listing was muted as expected when compared to grey market early predictions even though the IPO GMP of Credo Brands marketing was strong. This underscores an important lesson for investors:
GMP indicates sentiment, not certainty.
Market conditions, profit booking, and broader indices significantly influence listing outcomes.
Final Verdict on Credo Brands Marketing IPO GMP
The credo brands marketing ipo gmp signalong initial excitement based on the strength of a brand, financial growth and institutional interest. But as the IPO advanced, GMP levels softened, indicating more realistic listing expectations.
Key Takeaways
-
GMP peaked early and cooled closer to listing
-
Subscription numbers were strong across categories
-
Financials supported long-term fundamentals
-
Listing gains were moderate, not explosive
Credo Brands IPO:The lesson for investors from Credo Brands IPO is that one should not take a scenario from grey market signals only, fundamentals and overall market conditions also matter.
Must Read-: Hindustan Copper Share Price: Complete Analysis, Growth Potential, and Future Outlook
