A private corporation Metro Brand is going to Issue Metro Brands IPO publicly in the share market. Today, we have got an IPO review and all necessary details regarding lot size, price. So that in future you could decide whether it is beneficial to invest in or not. Finally, Company has already announced to issue their issue on December 10, 2021, and will close on December 14, 2021.
The main objective of the company is to raise ₹1367 crores via IPO by issuing fresh equity shares of ₹295 crores and offering for sale up to 21,450,100 of ₹4 each. The quota for the retail investor is 35%, QIB is 50% and HNI is 15%.
Metro Brands IPO Review & All Details
Let’s start with the company’s background and strengths. Metro Brand is a private corporation and one of the leading Indian footwear for all categories. The company was incorporated in 1995 and since they have been expertly and in the footwear industry.
The company offers branded footwear with a product range for men, women, kids, and unisex for every event. Metro brand has a wide range of products for all the retailers. Along with it, they have been operating more than 586 stores across 134 cities, 29 states, and including union territories in India.
One of the major details that you should know is that company is associated with M.V Shoes Care Private Limited. The company exchanges its product both offline and e-commerce methods. Other than footwear they also offer belts, bags, socks, masks, and wallets. Let’s see the company’s IPO details.
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Metro Brands IPO Date & Price Brand
| IPO Opening Date | Dec 10, 2021 |
| IPO Closing Date | Dec 14, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹485 to ₹500 per equity share |
| Market Lot | 30 Shares |
| Min Order Quantity | 30 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹5 (aggregating up to ₹1,367.51 Cr) |
| Fresh Issue | [.] Eq Shares of ₹5 (aggregating up to ₹295.00 Cr) |
| Offer for Sale | 21,450,100 Eq Shares of ₹5 (aggregating up to ₹1,072.51 Cr) |
| QIB Shares Offered | Not more than 50% of the offer |
| Retail Shares Offered | No less than 35% of the offer |
| NII (HNI) Shares Offered | No less than 15% of the offer |
Metro Brands IPO Lot Size
The Metro Brands IPO market lot size is 30 shares. A retail-individual investor can apply for up to 13 lots (390 shares or ₹195,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 30 | ₹15,000 |
| Maximum | 13 | 390 | ₹195,000 |
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Metro Brands IPO Date, Time Table, Allotment & Listing
The Metro Brands IPO open date is Dec 10, 2021, and the close date is Dec 14, 2021. The issue may list on Dec 22, 2021.
| IPO Open Date | Dec 10, 2021 |
| IPO Close Date | Dec 14, 2021 |
| Basis of Allotment Date | Dec 17, 2021 |
| Initiation of Refunds | Dec 20, 2021 |
| The credit of Shares to Demat Account | Dec 21, 2021 |
| IPO Listing Date | Dec 22, 2021 |
Metro Brands Company Financial Report
| ₹ in crores | |||
| Income | Expense | Profit After Tax | |
| 2019 | ₹1237 | ₹1009 | ₹153 |
| 2020 | ₹1311 | ₹1093 | ₹161 |
| 2021 | ₹8785 | ₹794 | ₹65 |
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According to all the company facts and IPO, Metro Brand is co-operated with other companies also they have very experienced in footwear products since 1955. If we talk about their shares price it seems exorbitant as per their financial status. So, it might be beneficial if for long-term investors. We hope that we have provided enough details for Metro brand corporation. If you want more company’s IPO reviews then keep following us on All Social Updates.