INSUBCONTINENT EXCLUSIVE:
The initial public offer of Metro Brands was subscribed 3.64 times.New Delhi: Shares of footwear retailer Metro Brands on Wednesday listed
with a discount of nearly 13 per cent from the issue price of Rs 500.The stock listed at Rs 436, a decline of 12.8 per cent against the
It further tumbled 14.78 per cent to Rs 426.10.On NSE, it made its debut at Rs 437, a discount of 12.6 per cent.The company commanded a
market valuation of Rs 12,805.65 crore on BSE.The initial public offer of Metro Brands was subscribed 3.64 times on the last day of
subscription on Tuesday last week.The Rs 1,367.5-crore IPO had a price range for the offer at Rs 485-500 per share.The initial public offer
(IPO) had a fresh issue of Rs 295 crore and an offer for sale of up to 2,14,50,100 equity shares.Currently, the company has 598 stores in
136 cities spread across the country.
