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Metro Brands IPO is a book build issue of ₹1,367.51 crores. The issue is a combination of fresh issue of 0.59 crore shares aggregating to ₹295.00 crores and offer for sale of 2.15 crore shares aggregating to ₹1,072.51 crores.
Metro Brands IPO bidding started from Dec 10, 2021 and ended on Dec 14, 2021. The allotment for Metro Brands IPO was finalized on Dec 17, 2021. The shares got listed on BSE, NSE on Dec 22, 2021.
Metro Brands IPO price band is set at ₹500.00 per share . The lot size for an application is 30. The minimum amount of investment required by an retail is ₹14,550 (30 shares). The lot size investment for sNII is 14 lots (420 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (2,010 shares), amounting to ₹10,05,000.
Ambit Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹485 to ₹500 per share |
| Issue Price Final | ₹500 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,73,50,100 shares (aggregating up to ₹1,367.51 Cr) |
| Fresh Issue | 59,00,000 shares (aggregating up to ₹295.00 Cr) |
| Offer for Sale | 2,14,50,100 shares of ₹5 (aggregating up to ₹1,072.51 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 26,56,07,426 shares |
| Share Holding Post Issue | 27,15,07,426 shares |
Metro Brands IPO offers total 2,73,50,100 shares. Out of which 1,36,75,050 (50.00%) allocated to QIB, 54,70,020 (20.00%) allocated to QIB, 41,02,515 (15.00%) allocated to NII, 95,72,535 (35.00%) allocated to RII and 82,05,030 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,36,75,050 (50.00%) | NA |
| − Anchor Investor Shares Offered | 82,05,030 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 54,70,020 (20.00%) | NA |
| NII (HNI) Shares Offered | 41,02,515 (15.00%) | NA |
| Retail Shares Offered | 95,72,535 (35.00%) | 3,19,084 |
| Total Shares Offered | 2,73,50,100 (100.00%) |
Metro Brands IPO raises ₹410.25 crore from anchor investors. Metro Brands IPO Anchor bid date is December 9, 2021. Metro Brands IPO Anchor Investors list
| Bid Date | December 9, 2021 |
| Shares Offered | 82,05,030 |
| Anchor Portion Size (In Cr.) | 410.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 16, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 17, 2022 |
Metro Brands IPO opens on December 10, 2021, and closes on December 14, 2021.
| IPO Open Date | Fri, Dec 10, 2021 |
| IPO Close Date | Tue, Dec 14, 2021 |
| Tentative Allotment | Fri, Dec 17, 2021 |
| Initiation of Refunds | Mon, Dec 20, 2021 |
| Credit of Shares to Demat | Tue, Dec 21, 2021 |
| Tentative Listing Date | Wed, Dec 22, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 14, 2021 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹15,000 |
| Retail (Max) | 13 | 390 | ₹1,95,000 |
| S-HNI (Min) | 14 | 420 | ₹2,10,000 |
| S-HNI (Max) | 66 | 1,980 | ₹9,90,000 |
| B-HNI (Min) | 67 | 2,010 | ₹10,05,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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...
| Listing Date | December 22, 2021 |
| BSE Script Code | 543426 |
| NSE Symbol | METROBRAND |
| ISIN | INE317I01021 |
| Final Issue Price | ₹500 per share |
| BSE Listing Group | B |
Metro Brands Ltd.
401, Zillion, 4th Floor,
LBS Marg & CST Road Junction, Kurla (West),
Mumbai- 400 070, Maharashtra, India
Mumbai, Maharashtra
Phone: + (91) 22 2654 7700
Email: investor.relations@metrobrands.com
Website: https://metrobrands.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: metrobrands.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Metro Brands IPO is a main-board IPO of 2,73,50,100 equity shares of the face value of ₹5 aggregating up to ₹1,367.51 Crores. The issue is priced at ₹500 per share. The minimum order quantity is 30.
The IPO opens on December 10, 2021, and closes on December 14, 2021.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹15,000.
You can apply in Metro Brands IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Metro Brands IPO listing date is on Wednesday, December 22, 2021.
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