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Opening Date
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10th December 2021
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Closing Date
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14th December 2021
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Face Value
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₹5 per equity share
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IPO Price Band
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₹485 to ₹500 per equity share
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Minimum Order Quantity
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30 Shares
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Issue Size
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₹1,367.51
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The month of November saw a string of IPOs releasing, leaving the investors with a mixed feeling. India’s biggest IPO till date, PAYTM, worth Rs 18,300 Crores went public in November 2021. Sigachi Industries, which went public on 15th November, 2021, returned more than 250% on investment, making it one of the top performing IPOs of the Month. Looking at this, here we bring to you the next big IPO which is lined up to go public in the last month of the year 2021. So, let’s take a look at the important elements of the Metro Brands Ltd IPO which is slated to go live in December 2021.
Metro Brands is one of the largest Indian footwear speciality retailers, and ranks amongst the aspirational Indian brands in the footwear category As of March 31, 2021, the Company operated 586 Stores across 134 cities spread across 29 states and union territories in India. The company had the third highest number of exclusive retail outlets in India, in Fiscal 2021. In Fiscal 2019, 2020, and 2021, the business recorded an EBITDA Margin of 27.72%, 27.51% and 21.36%, respectively (on a consolidated basis). Additionally, in Fiscal 2021, it recorded the highest net profit margin of 8.1% among footwear players having a retail business model for reaching customers. The company retails footwear brands of Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop, under its own brand. The company is coming out with an IPO in December 2021, which will consist of a fresh issue of Rs 2500 million!
- Metro Brands Ltd IPO details -
Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Metro Brands Ltd IPO date and it’s share price.
- Metro Brands Ltd IPO date -
According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is slated to go live from 10th December, 2021 and will be available for subscription until 14th December 2021
- Metro Brands Ltd IPO issue size -
The IPO will bring out a fresh issue of ₹295 crores and an offer for sale aggregating up to ₹1,072.51 crores. The total issue of the IPO thus stands at ₹1,367.51 Crores
- Metro Brands Ltd IPO share price
The price band of the company’s upcoming IPO 2023 is decided to be ₹485 to ₹500 per equity share.
- Metro Brands Ltd IPO listing
Since the IPO of Metro Brands Ltd is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)
- Metro Brands Ltd IPO objectives
According to the Red Herring Prospectus filed by the company, it aims to utilise the Net Proceeds towards funding the following objects:
- Expenditure for opening new stores of the Company, under the “Metro”, “Mochi”, “Walkway” and “Crocs” brands (“New Stores”);
- General corporate purposes
Conclusion
If you are excited about this upcoming IPO and want to invest in it, you will first need to have an online DEMAT Account of your own! And to get it for Free*, all you need to do is sign-up with Motilal Oswal.
If you already have an existing account, you can start your online trading and invest in the upcoming IPO's.
With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the upcoming IPOs by regularly following our IPO calendar.