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Metro Brands IPO: Footwear retailer Metro Brands IPO to open on Dec 10

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New Delhi: The preliminary share-sale of shoes store Metro Manufacturers Ltd, which is subsidized by means of Rakesh Jhunjhunwala, will open for public subscription on December 10. The preliminary public providing (IPO) will conclude on December 14, in line with the purple herring prospectus.

The preliminary share-sale incorporates contemporary issuance of fairness stocks value Rs 295 crore and an be offering on the market of two.14 crore fairness stocks by means of promoters and different shareholders.

In the course of the IPO, the corporate’s promoters will offload just about 10 in line with cent stake. Publish the IPO, the promoter and promoter crew protecting within the corporate will come all the way down to 75 in line with cent from the present stage of round 85 in line with cent.

Proceeds of the contemporary factor can be used in opposition to expenditure for opening new shops of the corporate, underneath the ‘Metro’, ‘Mochi’ , ‘Walkway’ and ‘Crocs’ manufacturers and for basic company functions.

At the moment, the corporate has 586 shops in 134 towns unfold throughout India. Of those, 211 shops had been opened within the closing 3 years. The corporate is an Indian shoes store focused on the financial system, mid and top rate segments within the shoes marketplace.

It opened its first retailer underneath the Metro emblem in Mumbai in 1955 and has since developed right into a one-stop store for all shoes wishes, by means of retailing quite a lot of branded merchandise for all the circle of relatives together with males, ladies, unisex and children, and for each and every instance together with informal and formal occasions.

Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities and Motilal Oswal Funding Advisors are the e-book working lead managers to the IPO.


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