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Credo Brands Marketing IPO: Price band set at ₹266-280 per share; check GMP, issue details, more
Credo Brands IPO price band: The Credo Brands Marketing IPO price band has been fixed in the range of ₹266 to ₹280 per equity share of the face value of ₹2. The Credo Brands IPO date of subscription is scheduled for Tuesday, December 19, and will close on Thursday, December 21. The allocation to anchor investors for the Credo Brands IPO is scheduled to take place on Monday, December 18. The floor price is 133 times the face value of the equity shares, and the cap price is 140 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the financial year 2023 at the floor price is 22.06 times and at the cap price is 23.22 times. The Credo Brands Marketing IPO lot size is 53 equity shares and in multiples of 53 equity shares thereafter. Credo Brands Marketing IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Tentatively, Credo Brands IPO basis of allotment of shares will be finalised on Friday, December 22, and the company will initiate refunds on Tuesday, December 26, while the shares will be credited to the demat account of allottees on the same day following refund. Credo Brands share price is likely to be listed on BSE and NSE on Wednesday, December 27. Given that T+3 listing is mandatory as of December 1, 2023, Credo Brands Marketing IPO will list on primary markets this month under this norm. Source - Mint
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