INSUBCONTINENT EXCLUSIVE:
Metro Brands Limited is one of the largestfootwear specialty retailers in the countryLeading footwear retailer Metro Brand's initial public
offer (IPO) will open for subscription tomorrow, December 10
Metro Brands Limited (MBL) is one of the largest footwear specialty retailers in the country and caters to the footwear needs through
a range of branded products
The company announced today that it has collected a little over Rs 410 crore from anchor investors ahead of its IPO rollout tomorrow.Backed
by ace investor Rakesh Jhunjhunwala, the company operated 598 stores across 136 cities - across 30 states and union territories in India,
Here's what you need to know about Metro Brands IPO: IPO DatesThe offer will open for subscription on December 10, 2021, and will close
on December 14. Price Band:Metro Brands has fixed the price band at Rs 485 - 500 per equity share of face value Rs 5 eachOffer DetailsAt
upper price band, the offer is priced at Rs 1,367.5 crore
The offer comprises a fresh issue of shares worth Rs 295 crore and an offer for sale of Rs 1,072.5 crore by promoter selling shareholders
who will offload 2.14 crore equity shares. Lot SizeThe bids can be made for a minimum of 30 equity shares and in multiples of 30 shares
Retail investors can make a minimum investment of Rs 15,000 for a single lot and their maximum investment would be Rs 1.95 lakh for 13
lots.IPO Objectives A part of the IPO proceeds will be utilized to fund the expenditure for opening new stores of the company under the
“Metro”, “Mochi”, “Walkway” and “Crocs” brands.ProfileSome of the company's well-known brands include Metro, Mochi, Walkway,
Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop.Metro Brands also offer accessories
such as belts, bags, socks, masks, and wallets, at their stores
The company also retails footcare and shoe-care products at their stores through the joint venture, M.V
Shoe Care Private Limited.
