Mufti Jeans owner Credo Brands IPO subscribed 2.08 times on Day 1. How other IPOs performed on December 19?

Besides, Credo Brands, other key issues also opened for bidding by the investors today. Here's how these IPOs performed.

Published on: Dec 19, 2023, 18:59:30 IST

By HT News Desk

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Mufti Jeans brand owner Credo Brands opened its initial public offering (IPO) for subscription on Tuesday. The initial share sale of the denim brand was subscribed 2.08 times on the first day.

The IPO worth ₹549.77 crore received bids for 2,86,40,405 shares against 1,37,44,472 shares on offer, as per the data on the National Stock Exchange. The price range for the three-day IPO is fixed at ₹266-280 a share.

People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Reuters)

It comes on the day the Sensex climbed 122.10 points or 0.17 per cent to settle at 71,437.19. The broader Nifty climbed 86.4 points or 0.40 per cent to hit its record peak of 21,505.05. It finally closed higher by 34.45 points or 0.16 per cent at 21,453.10.

Besides, Credo Brands, other key issues also opened for bidding by the investors today. Here's how these IPOs performed.

ALSO READ: Inox India IPO subscribed 61 times on Day 3. Check allotment status

RBZ Jewellers IPO

This Ahmedabad-based B2B and retail jewellery firm opened its IPO for subscription on Tuesday. At the end of the day, the issue was subscribed 2.27 times. The ₹100 crore initial share sale got bids for 1,79,64,900 shares against 79,00,000 shares on offer. The IPO of 1 crore equity shares has a price range of ₹95-100 per issue.

Happy Forgings IPO

The IPO of auto components maker Happy Forgings received 2.31 times subscription on the first day of share sale. The ₹1,008.6 crore-initial share sale received bids for 1,93,44,300 shares as against 83,65,639 shares on offer, as per data. The IPO has a fresh issue of up to ₹400 crore and an Offer For Sale (OFS) up to 71,59,920 equity shares, with the price range of ₹808-850 a share. Happy Forgings' primary clientele includes domestic and global Original Equipment Manufacturers (OEMs) in the commercial vehicle sector.

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HT News Desk
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