Credo Brands known for its Indian denim brand Mufti Jeans, launched its IPO in this month and the date of listing of the issue on the official websites of BSE and NSE is today, December 27.
Credo Brands, known for Mufti Jeans in India, is one of the largest premium and mid-premium denim manufacturers in the country. Mufti recently celebrated its 25th anniversary in India.
Credo Brands IPO launched on December 19 and closed on December 21. Credo Brands' IPO was subscribed 51.67 times on the last day and about 40 percent more than the listing price.
The issue price of Credo Brands IPO has been kept between Rs 266 and Rs 280 per share. Whereas the total issue size of Credo Brands IPO is Rs 549.78 crore with total shares are 19,634,960.
Credo Brands' stock was listed on the Bombay Stock Exchange (BSE) at ₹282, while its issue price was ₹280 per share. It listed on the National Stock Exchange (NSE) at ₹282.35 per share.
Despite strong GMP, the share price of Credo Brands closed at only ₹282 on Wednesday. Credo Brands Marketing (Mufti Menswear) has performed poorly on the day of listing in the stock market.