Credo Brands IPO: Listing date for the initial putlic offering (IPO) of brand Mufti’s parent company Credo Brands Limited has been fixed on 27th December 2023 i.e. today. As per the information available on BSE website, Happy Forgings share will list on BSE and NES in special per open session during Wednesday deals.
“Trading Members of the Exchange are hereby informed that effective from Wednesday, December 27, 2023, the equity shares of Credo Brands Marketing Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B ‘ Group of Securities,” BSE notice says.
According to stock market experts, Credo Brands IPO received strong response by investors and stock market sentiments are also condusive for positive listing of shares. They said that Credo Brands share price may have a positive listing and an allottee may expect up to 20 per cent premium.
Happy Forgings IPO listing date today. GMP, experts signal up to 30% gain
Meanwhile, grey market sentiments are also signaling positive Credo Brands IPO listing. According to stock market observers, Happy Forgings share price is quoting at a premium of ₹109 in grey market today.
Credo Brands IPO listing price
Expecting positive debut of Happy Forgings shares, Dhruv Mudaraddi, Research Analyst at StoxBox said, “Credo Brands Marketing Ltd. IPO received a strong 52x oversubscription and we expect a positive listing for the issue when it lists on the bourses on Wednesday. We expect the stock to list at a strong premium over the issue price of ₹280 per share. “
“We believe that the strong listing can be attributed to Credo’s distinctive blend of strengths. The company’s qualitative advantages include a strong brand equity spanning a diverse product range, safeguarding against business model risks. Operating on a scalable and asset-light model, MUFTI demonstrates flexibility for expansion with minimal capital investments,” Dhruv Mudaraddi added.
Nifty 50, Sensex on December 27: What to expect in trade today
Speaking on Happy Forgings IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Looking at some recent listings, it seems that primary market is losing its sheen and hence I am expecting a little lower than the return expected by majority of the market experts. I believe that Credo Brands IPO listing may take place at a premium of ₹42 to ₹52. This means, Credo Brands IPO listing price will be in ₹322 to ₹332 range. So, an allottee can expect up to 20 per cent listing gain from Credo Brands IPO listing.”
Credo Brands IPO GMP today
As per the market obserers, shares of Credo Brands Limited are available at a premium of ₹109 in grey market today. This means, Credo Brands IPO grey market premium (GMP) today is ₹109. Hence, grey market is signaling that Credo Brands IPO listing price would be around ₹389. This means grey market is signaling around 38 per cent premium for allottees.
Hence, both grey market and stock market experts are expecting that Credo Brands IPO listing may take place in positive territory but there is big difference between the return expected for allottees. Stock market experts are expecting just half of the premium expected by grey market today.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Published: 27 Dec 2023, 08:41 AM IST
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