Credo Brands Marketing IPO
Credo Brands Marketing Limited (MUFTI) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 27 December 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +26.7% (likely range +26% to +44%), day's high +44.3%, chance of a gain 92%. Actual: +0.8% at the open, +16.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 39,26,992 | 41,21,37,752 | 105x | |
| NII (HNI) total | 29,45,244 | 16,35,07,809 | 55.5x | |
| Big NII (above ₹10 lakh) | 19,63,496 | 10,94,16,751 | 55.7x | |
| Small NII (₹2-10 lakh) | 9,81,748 | 5,40,91,058 | 55.1x | |
| Retail | 68,72,236 | 13,70,58,212 | 19.9x | |
| Total | 1,37,44,472 | 71,27,03,773 | 51.9x |
Bids on NSE and BSE together, as published by NSE, as of 21 Dec 2023, 07:00 PM. Shares offered exclude the anchor portion. 17% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Credo Brands Marketing's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Gandhar Oil Refinery (India)Nov 2023 | 129x | 62.2x | 28.9x | 64.1x | ₹509 Cr | +76.3% | +103.6% |
| IKIO LightingJun 2023 | 164x | 63.4x | 13.9x | 66.3x | ₹615 Cr | +37.7% | +50.0% |
| RailTel Corporation of IndiaFeb 2021 | 65.1x | 73.3x | 16.8x | 42.4x | ₹820 Cr | +16.0% | +36.0% |
| Dodla DairyJun 2021 | 84.9x | 73.3x | 11.3x | 45.6x | ₹520 Cr | +28.5% | +52.3% |
| Flair Writing IndustriesNov 2023 | 116x | 33.4x | 13.0x | 46.7x | ₹626 Cr | +64.8% | +69.2% |
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors | 37 | +13.6% | 59% |
| ICICI Securities | 109 | +21.3% | 69% |
| Keynote Financial Services | 5 | +4.8% | 40% |
Offer documents (NSE)
Frequently asked
What is the Credo Brands Marketing IPO price band and lot size? ₹266–280 per share, with a lot of 53 shares, so the smallest retail bid is ₹14,840.
How many times has it been subscribed? 51.9x overall: QIB 105x, NII 55.5x, retail 19.9x.
How did it list? It opened at ₹282, +0.8% against the issue price of ₹280, and closed its first day +11.5%.
