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.

Headquartered in Mumbai, Mufti was founded by Kamal Khushlani in 1998 (Image courtesy: Moneycontrol)

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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