Metro Brands IPO: The price band of the IPO of the leading footwear retail company Metro Brands has been fixed. Investors will be able to invest in the price band of Rs 485-500 per share under this IPO of Rs 1368 crore. Big Bull Rakesh Jhunjhunwala, also known as Warren Buffett of India, also has a stake in Metro Brands. This IPO will open for subscription on December 10 and you can invest in it till December 14. It will open for anchor investors on December 9. Through the IPO, new shares worth Rs 295 crore will be issued and 2.14 crore equity shares will be sold under Offer for Sale (OFS). Through the IPO, the promoters of the company will reduce their 10 percent stake, which currently holds 84 percent stake in the company.
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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, the promoters’ stake in the company will come down by about 10 per cent to 74.27 per cent.
- The price band for the issue has been fixed at Rs 485-500 per share.
- The lot size is 30 shares i.e. according to the upper price of the price band, investors will have to invest at least 15 thousand rupees.
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- The face value per share is Rs.5.
- 50 per cent of the issue has been reserved for Qualified Institutional Investors (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors.
- The allotment of shares can happen on December 17 and can be listed on the exchange on December 22.
- 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 money raised through the sale of new shares will be used by the company 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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Company related details
- Metro Brands opened its first store in Mumbai under the METRO brand in Mumbai in 1955 and now has 598 stores in 136 cities across the country. In the last three years, the company has opened 211 stores out of 598 stores across the country.
- This company sells footwear products for men, women, unisex and children.
- Metro Bonds sells products for all occasions including casual and formal events.
- Talking about the financial position of the company, in the financial year 2019, the company had a net profit of Rs 152.73 crore, which increased to Rs 160.57 crore in the next financial year 2020, but in the next financial year 2021, there was a sharp decline in the profit and the company got Rs 64.62 crore. There was a net profit of Rs.
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