Credo Brands IPO Live Updates: Tuesday is the opening day for the initial public offering (IPO) of Credo Brands Marketing, the parent firm of the Mufti Menswear brand, with the company aiming to raise ₹550 crore through the public issue.
On the eve of the IPO’s opening, Credo Brands garnered around ₹165 crore from marquee anchor investors; the Mumbai-based company informed the exchanges in its filing that it finalised allocation of 58,90,488 equity shares to anchor investors at ₹280 per equity share.
“Out of the total allocation of 58,90,488 equity shares to the anchor investors, 24,99,167 shares were allocated to 3 domestic mutual funds,” the filing stated.
The Credo Brands IPO will conclude on December 21.
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