Credo Brands, renowned for its flagship product Mufti Jeans, made headlines with its IPO launch earlier in December. Today, December 27, marks the much-anticipated day of its stock market debut, set to commence post 9:15 am. The IPO, which opened on December 19 and concluded on December 21, witnessed an overwhelming subscription rate, exceeding 51 times its initial offer on the final day. Market analysts predict a robust opening, with share values potentially soaring to about 40% above the initial offering price.
Credo Brands, the company behind Mufti Jeans, sees its shares debut at ₹282, maintaining momentum despite robust grey market expectation
Known as a key player in the Indian denim industry, Credo Brands has carved a niche with its Mufti Jeans brand, positioning itself as a leading name in the premium and mid-tier denim segments. Celebrating its 25th year in the Indian market, Mufti has solidified its presence as a fashion mainstay. Investors are keeping a keen eye on the Grey Market Premium (GMP), expecting favorable returns from Credo Brands’ shares. This piece provides an insightful overview of the IPO’s journey and the company’s current Grey Market Premium.
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