Credo Brands Marketing IPO saw oversubscription in the retail category, and shares will be allocated on a proportionate basis. Refunds for non-allotment will be initiated on December 26. The IPO is completely an offer of sale (OFS).
Credo Brands IPO Allotment: Credo Brands Marketing initial public offering (IPO) witnessed robust investor participation throughout the three-day bidding period from December 19 to 21. The IPO garnered an exceptional response across all investor categories.
The allotment for Credo Brands IPO is expected to be finalised soon. Investors can check their allotment status on the registrar’s website, Link Intime India Private Ltd, as well as on the BSE and NSE. Credo Brands is a Main Board IPO, and its shares are set to be listed on both BSE and NSE, with the tentative listing date being December 27.Given the oversubscription in the retail category, the allocation of shares to Retail Individual Investors (RII) will be done on a proportionate basis. For those investors who don’t receive an allotment, Credo Brands will initiate the refund process of the application money on December 26. Concurrently, investors who were allotted shares will see them credited to their demat accounts on the same day following the refund.
Credo Brands Marketing IPO has reserved not more than 50 percent of the shares in the public issue for QIB, not less than 15 percent for NIIs, and not less than 35 percent of the offer is reserved for retail investors.
Steps to check the IPO allotment status:
Step 1: Visit the Link Intime India website by clicking this link – https://linkintime.co.in/MIPO/Ipoallotment.html
Step 2: Choose the IPO in the dropbox that will only have its name set if the allocation is completed.
Step 3: In the ‘Selection Type’ dropdown, choose between either the application number, beneficiary ID, or PAN ID.
Step 4: Choose between ASBA and non-ASBA under the application type.
Step 5: Include the information for the mode you choose.
Step 6: Click submit after filling out the captcha.
Steps to check the Credo Brands IPO allotment on the BSE website:
Step 1: Visit the allotment page on BSE’s official website – https://www.bseindia.com/investors/appli_check.aspx
Step 2: Under ‘Issue Type’, select ‘Equity’
Step 3: Choose the IPO from the drop-down option under ‘Issue Name’.
Step 4: Enter PAN or application number.
Step 5: Click on ‘I am not a robot’ to confirm your identity, then hit the ‘Submit’ button.
Subscription overview
The IPO received bids for 71,27,02,607 shares as against the 1,37,44,472 shares available for subscription, translating into a subscription rate of 51.85 times. The segment allocated for retail investors saw a subscription rate of 19.94 times, while the portion reserved for Non-Institutional Investors (NIIs) was subscribed by 55.52 times. The Qualified Institutional Buyers’ (QIB) segment witnessed robust demand, with a subscription rate of 104.95 times.
About Credo Brands
Credo Brands Marketing Limited (“Credo”) was incorporated on April 29, 1999. It offers casual clothing for men with its flagship brand, “Mufti.” The company’s product mix has evolved significantly over the past several years, from consisting of only shirts, t-shirts, and trousers in 1998 to a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters in relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and also athleisure categories as of date.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.