The IPO of Credo Brands has garnered a robust response from investors, and the retail portion of the IPO is oversubscribed 8.78 times by the end of the second day of offering. The topic was subscribed to over 6.95 times in total by 5pm on December 20th.
According to data available with BSE, the non-institutional investors (NIIs) portion of Credo Brands IPO was subscribed 11.48 times while qualified institutional buyers (QIBs) portion was subscribed 0.35 times.
On the first day, the topic was subscribed 1.77 times by 4:25 pm on December 19. The retail portion was booked 2.93 times, NII portion was subscribed 1.43 times and QIB was subscribed more than 0.01 times.
Credo Brands’ IPO opened for subscription on Tuesday and will close on Thursday. The clothing company has set the Credo Brands IPO price at ₹266 to ₹280 per equity share.
The company garnered Rs. 165 crore from marquee anchor investors ahead of its initial public offering on December 18. The company on Monday informed the stock exchanges that it has allotted 58,90,488 equity shares at ₹280 per share on Monday, December 18, 2023, to anchor investors.
Foreign and Domestic long-only institutions that participated in the anchor were Nippon Mutual Fund, HSBC Mutual Fund, Aditya Birla Sunlife insuranceKotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Integrated Core Strategies (Asia), Morgan Stanley Asia, SBI General Insurance, JM Mutual Fund, Subhkam Ventures, Reliance General Insurance.
Out of the total allocation of 58,90,488 equity shares to the anchor investors, 24,99,167 equity shares were allotted to domestic mutual funds through a total of 3 schemes amounting to. ₹70 crore ie 42.4% of the Total Anchor Book Size.
Credo Brands GMP today
Shares of Credo Brands Marketing Ltd are available for trading on unlisted markets. According to stock market watchers, Credo Brands Marketing shares are available at a premium of ₹145 in the gray market today.
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Published: 20 Dec 2023, 19:21 IST