Metro Brands IPO: The IPO of the leading footwear retail company Metro Brands will open on Friday (December 10). The special thing is that Big Bull Rakesh Jhunjhunwala, who is called Warren Buffett of India, also has a stake in this company. According to the red herring prospectus filed with market regulator SEBI, investors will be able to invest in the IPO of this company, which is owned by Rakesh Jhunjhunwala, till December 14. Under this IPO, new equity shares worth Rs 295 crore will be issued while the existing promoters and other shareholders of the company will sell 2.14 crore equity shares under offer for sale (OFS).
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Metro Brands IPO Key Details
- The IPO of footwear retail company Metro Brands will be open from December 10 to December 14.
- Under this IPO, new shares worth Rs 295 crore will be issued.
- The existing promoters and other shareholders of the company will sell 2.14 crore equity shares under the offer for sale (OFS).
- After this sale of shares, the promoters’ stake in the company will come down by about 10 per cent to 75 per cent.
- The book running lead managers to the issue are Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors.
- The company will use the money raised through the sale of new shares to open new stores. These new stores will be opened under the brand names of Metro, Cobbler, Walkway and Crocs. Apart from this, the capital raised through the sale of new shares will also be used for general corporate purposes.
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