About Company’s Business:
Launched 25 years ago by its Promoter, Kamal Khushlani, the brand “Mufti” aims to revolutionize menswear. Positioned as an alternative dressing solution, it caters to the contemporary Indian man desiring stylish and expressive clothing beyond the ordinary. Specializing in retailing garments and accessories, Mufti abstains from apparel manufacturing. Product distribution occurs through exclusive brand outlets (“EBOs”), large format stores (“LFSs”), multi-brand outlets (“MBOs”), and online platforms. The brand is committed to offering a comprehensive wardrobe solution for diverse occasions, encompassing shirts, t-shirts, jeans, and chinos for year-round wear. Mufti’s designs embody a youthful aesthetic in sync with prevailing fashion trends. Noteworthy competitors include Aditya Birla Fashion and Retail Limited, Go Fashion (India) Limited, Arvind Fashions Limited, and Kewal Kiran Clothing Limited.
About the Industry:
The Indian apparel market, valued at INR 5,476 billion (USD 68.45 billion) in FY 2023, is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of approximately 18% from FY 2023 to FY 2027. Projections suggest it will reach INR 10,683 billion (USD 133.5 billion) by FY 2027, driven by factors such as heightened brand awareness, expanding digitization, rising purchasing capacity, and growing urbanization. Mufti is actively involved in this dynamic apparel market.
Key Financial Information (â‚ą in million):
| Particulars | For the Three Months Ended June 30, 2023 | Fiscals 2023 | Fiscals 2022 | Fiscals 2021 |
|---|---|---|---|---|
| Equity Share Capital | 128.60 | 32.15 | 31.92 | 31.92 |
| Net Worth | 2,898.80 | 2,813.51 | 2,357.26 | 1,923.33 |
| Revenue from Operations | 1,184.90 | 4,981.82 | 3,411.72 | 2,448.26 |
| Profit After Tax for the Year (before OCI) | 85.75 | 775.14 | 357.40 | 34.41 |
| Earnings per Share - Basic (in â‚ą/share) | 1.33 | 12.06 | 5.60 | 0.54 |
| Earnings per Share - Diluted (in â‚ą/share) | 1.33 | 12.06 | 5.56 | 0.54 |
| Net Asset Value per Equity Share (in â‚ą/share) | 45.08 | 43.75 | 36.92 | 30.13 |
| Total Borrowings (including non-current and current borrowings) | 112.95 | 100.79 | 134.64 | 152.27 |
Objective of the Issue:
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To achieve the benefits of listing the Equity Shares on the Stock Exchanges:
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To carry out the Offer for Sale of up to 19,634,960 Equity Shares of face value of â‚ą 2 each by the Selling Shareholders:
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Tuesday, December 19, 2023 |
| Close Date | Thursday, December 21, 2023 |
| Issue Size | â‚ą549.78 Crores |
| Price | â‚ą266 to â‚ą280 per share |
| Lot Size | 53 Shares |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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