Mumbai-based retailer Credo Brands Marketing scrip listed at Rs 282 per share on BSE and Rs 282.35 per share on NSE
New Delhi: Credo Brands Marketing, the parent company of apparel brand Mufti, listed on the country’s stock exchanges—National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 27 December. The scrip listed Rs 282 per share on BSE and Rs 282.35 per share on NSE. The company’s share price closed at Rs 312.50 per share on the BSE, an 11.61% premium, and at Rs 311 per share on the NSE, an 11.07% premium.
As per NSE, the total quantity traded stood at 312.05 lakh shares, on BSE the total Quantity stood at 18.29 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 988.99 crore.
“As Credo Brands Marketing (MUFTI) enters this momentous phase of being listed on the exchange, we extend our heartfelt gratitude to each shareholder and investor who has been an integral part of our journey,” Kamal Khushlani, MD – Credo Brands Marketing Limited, said.
The Market Capitalization of the Company at today’s closing price stood at Rs. 2,009.43 Crore as per BSE and Rs. 1999.79 Crore as per NSE.
The Initial Public Offering of Credo Brands Marketing Limited was subscribed 51.85 times. Retail Portion was subscribed 19.94 times, Non-Institutional Investors Portion with 55.52 times, whereas Qualified Institutional Buyer Portion subscribed 104.95 times.
Kamal Khushlani launched the brand Mufti 25 years ago with a vision to redefine menswear.
As of 30 September, 2023, Mufti had a pan-India presence through 1,807 touchpoints with its reach extending 591 cities.
