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Metro Brands IPO is a book built issue of Rs 1,367.51 crores. The issue comprises of fresh issue of Rs 295.00 crore and offer for sale of 2.15 crore shares.
Metro Brands IPO bidding started from December 10, 2021 and ended on December 14, 2021. The allotment for Metro Brands IPO was finalized on Friday, December 17, 2021. The shares got listed on BSE, NSE on December 22, 2021.
Metro Brands IPO price band is set at ₹485 to ₹500 per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is ₹15,000.
Ambit Private Limited, Axis Capital Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Equirus Capital Private Limited, ICICI Securities Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers of the Metro Brands IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Metro Brands IPO RHP for detailed information.
| IPO Date | December 10, 2021 to December 14, 2021 |
| Listing Date | December 22, 2021 |
| Face Value | ₹5 per share |
| Price Band | ₹485 to ₹500 per share |
| Lot Size | 30 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,367.51 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹295.00 Cr) |
| Offer for Sale | 21,450,100 shares of ₹5 (aggregating up to ₹1,072.51 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Metro Brands IPO offers 19,145,070 shares. 5,470,020 (28.57%) to QIB, 4,102,515 (21.43%) to NII, 9,572,535 (50.00%) to RII. 319,084 RIIs will receive minimum 30 shares and (sNII) and (bNII) will receive minimum 420 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,470,020 (28.57%) | NA |
| NII (HNI) Shares Offered | 4,102,515 (21.43%) | |
| Retail Shares Offered | 9,572,535 (50.00%) | 319,084 |
| Total Shares Offered | 19,145,070 (100%) |
Metro Brands IPO opens on December 10, 2021, and closes on December 14, 2021.
| IPO Open Date | Friday, December 10, 2021 |
| IPO Close Date | Tuesday, December 14, 2021 |
| Basis of Allotment | Friday, December 17, 2021 |
| Initiation of Refunds | Monday, December 20, 2021 |
| Credit of Shares to Demat | Tuesday, December 21, 2021 |
| Listing Date | Wednesday, December 22, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 14, 2021 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹15,000 |
| Retail (Max) | 13 | 390 | ₹195,000 |
| Lot Size Calculator | |||
Rafique A. Malik, Farah Malik Bhanji, Alisha Rafique Malik, Rafique Malik Family Trust And Aziza Malik Family Trust are the company promoters.
| Share Holding Pre Issue | 84.02% |
| Share Holding Post Issue | 74.27% |
Established in 1955, Metro Brands Limited is one of the largest Indian footwear specialty retailers, in India. The company caters to the footwear needs of customers through a wide range of branded products for the entire family including men, women, unisex and kids, and different occasions. The company targets the mid and premium segments in the footwear market which have a higher presence of organized players and growth in the overall footwear industry. Some of the company's well-known brands include Metro, Mochi, Walkway, Da Vinchi, and J. 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. The company follows the "company-owned and company operated" (COCO) model of retailing through their own Multi Brand Outlets (MBOs) and Exclusive Brand Outlets (EBOs), to manage their stores.
As of September 30, 2021, the company operated 598 Stores across 136 cities spread across 30 states and union territories in India. The company has been supported by Mr. Rakesh Jhunjhunwala as an investor since 2007.
Competitive Strengths:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 17,396.06 | 16,593.40 | 16,174.23 | 13,215.06 | |
| Total Revenue | 4,892.68 | 8,785.38 | 13,110.68 | 12,368.95 | |
| Profit After Tax | 430.74 | 646.19 | 1,605.75 | 1,527.31 | |
[Dilip Davda] The company is operating on an asset-light model with the marketing of third-party products. Amidst all odd, it continued to post positive earnings and has set an example. However, the IPO pricing is aggressive based on its financial parameters. Hence cash surplus investors consider it with a long-term perspective. Read detail review...
The Metro Brands IPO is subscribed 3.64 times on December 14, 2021 5:00:00 PM. The public issue subscribed 1.13 times in the retail category, 8.49 times in the QIB category, and 3.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 0.94 times
| Category | Subscription (times) |
|---|---|
| QIB | 8.49 |
| NII | 3.02 |
| Retail | 1.13 |
| Total | 3.64 |
| Listing Date | December 22, 2021 |
| BSE Script Code | 543426 |
| NSE Symbol | METROBRAND |
| ISIN | INE317I01021 |
| Final Issue Price | ₹500 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹500.00 |
| ₹436.00 |
| ₹426.10 |
| ₹507.70 |
| ₹493.55 |
| NSE |
|---|
| ₹500.00 |
| ₹437.00 |
| ₹426.00 |
| ₹507.90 |
| ₹493.35 |
Metro Brands Limited
401, Zillion, 4th Floor,
LBS Marg & CST Road Junction, Kurla (West),
Mumbai- 400 070, Maharashtra, India
Phone: + (91) 22 2654 7700
Email: investor.relations@metrobrands.com
Website: https://metrobrands.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: metrobrands.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Lead Manager Reports
Metro Brands IPO is a main-board IPO of [.] equity shares of the face value of ₹5 aggregating up to ₹1,367.51 Crores. The issue is priced at ₹485 to ₹500 per share. The minimum order quantity is 30 Shares.
The IPO opens on December 10, 2021, and closes on December 14, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Metro Brands IPO using UPI as a payment gateway. Zerodha customers can apply in Metro Brands IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Metro Brands IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Metro Brands IPO opens on December 10, 2021 and closes on December 14, 2021.
Metro Brands IPO lot size is 30 Shares, and the minimum amount required is ₹15,000.
You can apply in Metro Brands IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Metro Brands IPO will be done on Friday, December 17, 2021, and the allotted shares will be credited to your demat account by Tuesday, December 21, 2021. Check the Metro Brands IPO allotment status.
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