Credo Brands Marketing (MUFTI) stocks closes at 12 percent premium on its debut

Credo Brands Marketing, owner of fashion brand Mufti which recently listed on the stock exchange closed at Rs 312 ($4) per share on the Bombay Stock Exchange (BSE) at a premium of 12 percent.

The Initial Public Offering of Credo Brands Marketing Limited was subscribed 51.85 times with the stock listing at Rs 282 per share on BSE.

Commenting on the launch, Kamal Khushlani, managing director of Credo Brands Marketing Limited in a statement said, “As Credo Brands Marketing (Mufti) enters this momentous phase of being listed on the exchange, we extend our heartfelt gratitude to each shareholder and investor who has been an integral part of our journey. Your unwavering support and trust have been the cornerstone of our growth and success. This milestone is a testament to the collective efforts and resilience of our team and partners.”

“As we stride into this new chapter, we reaffirm our commitment to delivering value, fostering innovation, and upholding the trust you’ve placed in us,” he added.

Mufti is available through a pan-India multichannel distribution network comprising of its exclusive brand outlets, large format stores, and multi-brand outlets as well as online channels comprising the website and other e-commerce marketplaces.