Mufti Menswear IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 27, 2023Let’s have a detailed review of the company and analytics of the Mufti Menswear IPO release date, IPO offer price, subscription, Mufti Menswear Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 266 to Rs 280 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 53 Shares |
| Listing Date | December 27, 2023 |
| Offer for Sale | Rs 549.78 Cr. |
| Fresh Issue | Rs Cr. |
| IPO Size | Rs 549.78 Cr. |
| Tick Size | 1 |
Mufti Menswear IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Mufti Menswear Share Price |
Mufti Menswear IPO – Summary
They believe in providing a meaningful wardrobe solution for multiple occasions in a customer’s life, with their product offerings ranging from shirts to t-shirts to jeans to chinos, which cater to all year-round clothing.
Their products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends. They are engaged in the retail sale of garments and accessories, and they do not manufacture any apparel.
The Promoter of this company is KAMAL KHUSHLANI AND POONAM KHUSHLANI. The lead manager of the issue is DAM Capital Advisors Limited, ICICI Securities Limited, and Keynote Financial Services Limited, and the Registrar of this issue is Link Intime India Private Limited.
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Mufti Menswear IPO Date
The opening and closing dates of Mufti Menswear IPO are December 19, 2023, and December 21, 2023, respectively.
Mufti Menswear IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 19th Dec | 0.01x | 2.08x | 3.37x | 2.13x |
| 2nd Day – 20th Dec | 0.35x | 11.57x | 9.13x | 7.14x |
| 3rd Day – 21st Dec | 0.37x | 18.69x | 11.47x | 9.84x |
| Shares Offered or Net Issue | 3,926,992 | 2,945,244 | 6,872,236 | 19,634,960 |
The shares subscribed by the public will be updated here.
Mufti Menswear IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Mufti Menswear Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 22, 2023 |
| Refunds Initiation | December 26, 2023 |
| Credit of Shares to Demat Account | December 26, 2023 |
| Share Listing Date | December 27, 2023 |
Mufti Menswear IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 266 to Rs 280
Mufti Menswear IPO Equity Size
This Initial Public Issue of 19,634,960 Equity Shares of Rs.2 each for cash at a price of Rs 266 to Rs 280 per equity share aggregating to Rs.549.78 Cr.
Mufti Menswear IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 19,634,960 Equity Shares of Rs.2/ each.
Issue Size: 19,634,960 Equity Shares of Rs.2 each, aggregating to Rs.549.78 Cr.
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Mufti Menswear IPO – Live Performance
The listing date of this IPO is December 27, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Mufti Menswear Share Price |
Mufti Menswear IPO Grey Market Premium
The Mufti Menswear Limited IPO Grey Market Premium price is Rs 100, the Kostak rate is Rs NA and the Subject to Sauda is Rs 3000.
Mufti Menswear IPO – Company Overview
Their brand “Mufti” was launched by their Promoter, Kamal Khushlani, 25 years ago with a vision to redefine menswear.
The brand was created as an alternative dressing solution and was designed to deliver a casual alternative with a focus on creative, bold, and expressive clothing for the contemporary Indian man who wanted something more stylish than what was commonly available.
Their products are available through a pan-India multichannel distribution network that they have built over the years comprising of their exclusive brand outlets (“EBOs”), large format stores (“LFSs”) and multi-brand outlets (“MBOs”), as well as online 159 channels comprising of their website and other e-commerce marketplaces.
Their multi-channel presence is planned strategically in a manner that their products across categories are available at consumers’ preferred shopping channels.
Mufti Menswear IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 30-Jun-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 5,923.77 | 5,744.80 | 4,760.49 | 4,169.90 |
| *Total Revenue | 1,194.30 | 5,093.22 | 3,548.35 | 2,611.54 |
| Total Expense | 1,081.18 | 4,055.10 | 3,070.02 | 2,571.46 |
| Profit After Tax | 85.75 | 775.14 | 357.40 | 34.41 |
Earnings per Equity Share (in Million)
| 30-Jun-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 1.33 | 12.06 | 5.60 | 0.54 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 775.14 Million, Rs. 357.40 Million and Rs. 34.41 Million respectively.
Mufti Menswear IPO – Promoters
The Promoter of this company is:
- KAMAL KHUSHLANI
- POONAM KHUSHLANI
List of Related Parties (Key Managerial Personnel)
- Kamal Khushlani, Chairman and Managing Director
- Poonam Khushlani, Full-time Director
- Dr. Manoj Nakra, Non–Executive Director
- Amer Jaleel, Independent Director
Mufti Menswear IPO – Promoters Holding
- Pre-Issue Share Holding – 66.66%
- Post-Issue Share Holding – 53.66%
Mufti Menswear IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 19,634,960 Equity Shares aggregating up to Rs.5497.80 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than 6,872,236 Equity Shares |
| Other than Retail Individual Investors | Not more than 2,945,244 Equity Shares |
| Equity Shares outstanding prior to the Issue | 64,301,880 Equity Shares |
| Equity Shares outstanding after the Issue | 64,301,880 Equity Shares |
Mufti Menswear IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges; and
- To carry out the Offer for Sale of up to 19,634,960 Equity Shares of face value of ₹ 2 each, aggregating up to ₹ [●] million, by the Selling Shareholders
Mufti Menswear IPO – Business Strategy
- Expand their domestic store network in existing and new cities
- Enhancement of brand appeal through focused marketing initiatives
- Deeper penetration to grow sales through online channels
- Focused expansion of their product portfolio to become a men’s lifestyle brand
- Leverage technology to improve supply-chain management and enhance customer experience
Credo Brands Marketing IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- 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; and
- Experienced Promoter and senior management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 0.54 | 29.98 | 43.75 |
| 31-Mar-22 | 5.60 | 16.70 | – |
| Mar-21 | 0.54 | 1.81 | – |
Mufti Menswear IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Mufti Menswear Limited | 2 | [●] | 12.06 | 29.98 | 5,093.22 |
| Listed Peers | |||||
| Aditya Birla Fashion and Retail Limited | 10 | 88.24 | -0.38 | -1.18 | 1,25,343.60 |
| Go Fashion (India) Limited | 10 | 157.08 | 15.33 | 17.27 | 6,771.94 |
Mufti Menswear IPO Lead Managers
| Lead Managers |
| DAM Capital Advisors Limited ICICI Securities Limited Keynote Financial Services Limited |
Mufti Menswear IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli (West) Mumbai 400 083 Maharashtra, India Telephone: +91 81081 14949 E-mail: credobrands.ipo@linkintime.co.in Website: www.linkintime.co.in Investor grievance e-mail: credobrands.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Credo Brands Marketing IPO – Other Details
- Statutory Auditor – Deloitte Haskins and Sells LLP
- Legal Counsel to the Company – J. Sagar Associates
- Bankers to the Company – YES Bank Limited, Axis Bank Limited, HDFC Bank Limited and Kotak Mahindra Bank Limited
Mufti Menswear IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Mufti Menswear Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Credo Brands Marketing IPO Review FAQs
Check out various FAQs related to Mufti Menswear IPO:
What is the Issue Size of Credo Brands Marketing IPO?
The Company is making an initial public offer of 19,634,960 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Mufti Menswear IPO?
The price band for this particular IPO ranges between Rs 266 to Rs 280. As far as the face value of the share is concerned, it is Rs. 2 per share.
What is the Mufti Menswear IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 19, 2023, while the closing date is set at December 20, 2023.
What is the Credo Brands Marketing IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 22, 2023, refund initiation is on December 26, 2023, credit of shares is on December 26, 2023, and share listing date is on December 27, 2023.
What is the Mufti Menswear IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 27, 2023. The date, when the listing would be done, is stagnant on December 27, 2023.
Who is the Registrar of Mufti Menswear IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Credo Brands Marketing IPO?
Here are the promoters of this IPO – KAMAL KHUSHLANI AND POONAM KHUSHLANI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Mufti Menswear IPO?
They have obtained the GMP of this IPO and it is Rs 100. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Mufti Menswear IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Mufti Menswear Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 775.14, 2022 is 357.40, and 2021 is 34.41. PAT from Jun 2023 is 85.75.
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