Credo Brands IPO allotment out today; Check details inside

22 Dec 2023 , 01:08 PM

On December 21, the subscription period for the Credo Brands Marketing IPO concluded, and today the company is set to disclose the allotment details. Investors can check the IPO allotment status on BSE website or on company’s IPO registrar, Link Intime India.

Those who have applied for the IPO need to provide application number and PAN details to check the allotment status.

Credo Brands marketed its IPO within the price range of Rs 266-280 per share, with a lot size of 53 shares, allowing investors to bid from December 19 to December 21. The company’s primary objective was to generate around Rs 550 crore through an offer for sale (OFS) comprising up to 1,96,34,960 equity shares.

The IPO garnered significant attention, experiencing an overall subscription rate of 51.85 times. Notably, the portion designated for qualified institutional bidders (QIBs) witnessed an overwhelming response, being oversubscribed by an impressive 104.95 times. 

Likewise, the non-institutional investors’ category exhibited substantial interest, reaching a subscription rate of 55.52 times. Retail investors also displayed enthusiasm, subscribing to their allocated quota at a rate of 19.94 times during the bidding process.