Bookbuilding IPO | ₹1,368 Cr | Listed at BSE, NSE | Fri, Dec 10, 2021 - Tue, Dec 14, 2021
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 per share. The lot size for an application is 30. The minimum amount of investment required by an retail is ₹15,000 (30 shares) (based on upper price). 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 Open
Fri, Dec 10, 2021
IPO Close
Tue, Dec 14, 2021
Issue Price
₹500 per share
Market Cap (Pre-IPO)
₹13,575.37 Cr
| IPO Date | 10 to 14 Dec, 2021 |
| Listed on | Wed, Dec 22, 2021 |
| Face Value | ₹5 per share |
| Price Band | ₹485 to ₹500 |
| Issue Price | ₹500 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,73,50,100 shares (agg. up to ₹1,368 Cr) |
| Fresh Issue | 59,00,000 shares (agg. up to ₹295 Cr) |
| Offer for Sale | 2,14,50,100 shares of ₹5 (agg. up to ₹1,073 Cr) |
| Share Holding Pre Issue | 26,56,07,426 shares |
| Share Holding Post Issue | 27,15,07,426 shares |
| BSE Script Code / NSE Symbol | 543426 / METROBRAND |
| ISIN | INE317I01021 |
Metro Brands IPO comprises a total issue size of 2,73,50,100 shares. Out of which, 1,36,75,050 (50.00%) are allocated to QIB, 41,02,515 (15.00%) allocated to NII 95,72,535 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 30 shares and in multiples thereof.
| 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 |
Metro Brands IPO raises ₹410.25 crore from anchor investors. Metro Brands IPO Anchor bid date is December 9, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Dec 9, 2021 |
| Shares Offered | 82,05,030 |
| Anchor Portion (₹ Cr.) | 410.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jan 16, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Mar 17, 2022 |
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:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expenditure for opening new stores of the Company, under the “Metro”, “Mochi”, “Walkway” and “Crocs” brands (“New Stores”); | 225.37 |
| 2 | General corporate purposes | 59.56 |
The Metro Brands IPO is subscribed 3.64 times on December 14, 2021 5:00:00 PM (Day 3). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.49 | 54,70,020 | 4,64,44,800 |
| NII | 3.02 | 41,02,515 | 1,23,84,780 |
| Retail | 1.13 | 95,72,535 | 1,07,82,900 |
| Total | 3.64 | 1,91,45,070 | 6,96,12,480 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 16.12 |
| 2 | Advertising and marketing expenses | 7.19 |
| 3 | Printing and stationery expenses | 1.83 |
| 4 | Fees payable to Registrar to the Offer | 0.97 |
| 5 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 6.01 |
| 6 | Others (Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses, fees for the legal counsel, Statutory Auditor, and the Independent Chartered Accountant appointed for providing confirmations and certificates for the purpose of the Offer, the practising company secretary who conducted a search of the RoC and issued a certificate confirming that certain corporate records are not traceable, CRISIL Limited for preparing the in | 14.55 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹500.00 | ₹500.00 |
| Open | ₹436.00 | ₹437.00 |
| Low | ₹426.10 | ₹426.00 |
| High | ₹507.70 | ₹507.90 |
| Last Trade | ₹493.55 | ₹493.35 |
Lead Manager Reports
Metro Brands IPO is a main-board IPO of 2,73,50,100 equity shares of the face value of ₹5 aggregating up to ₹1,368 Crores. The issue is priced at ₹500 per share. The minimum order quantity is 30.
The IPO opens on Fri, Dec 10, 2021, and closes on Tue, Dec 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 Fri, Dec 10, 2021 and closes on Tue, Dec 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 Tue, Dec 21, 2021. Check the Metro Brands IPO allotment status.
The Metro Brands IPO listing date is on Wed, Dec 22, 2021.
