Footwear retailer Metro Brands raises INR 410 crore from anchor investors
Backed by Rakesh JhunJhunwala, footwear retailer Metro Brands Ltd, said it has collected a little over ₹ 410 crores from anchor investors ahead of its IPO rollout on Friday.
Taking a total transaction size of ₹ 410.25 crores, the company has allotted 82.05 lakh equity shares to anchor investors at ₹ 500 apiece.
ICICI Prudential MF, Sundaram MF, Aditya Birla Sun Life MF, HDFC Mutual Fund MF, Tata AIA Life Insurance Co Ltd, SBI Life Insurance Co Ltd, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Goldman Sachs and Societe Generale are among the anchor investors.
The issue opens for public subscription on December 10, with a price band of ₹ 485-500 per share and will conclude on December 14.
The public issue is expected to fetch ₹ 1,367.5 crores, at the upper end of the price band
.
The fresh funds will be used for general corporate purposes and for opening new stores of the company, under the Crocs, Walaway, Mochi and Metro brands.
Spread across 136 cities in India, at present, the company has 598 stores.
35 per cent of the issue size has been reserved for retail investors, 15 per cent for non-institutional investors and a half for qualified institutional buyers.
Targeting the economy, mid and premium segments in the footwear market the company is an Indian footwear retailer.
In 1955, it opened its first store in Mumbai under the ‘Metro’ brand and is a one-stop shop for all footwear needs.
Taking a total transaction size of ₹ 410.25 crores, the company has allotted 82.05 lakh equity shares to anchor investors at ₹ 500 apiece.
ICICI Prudential MF, Sundaram MF, Aditya Birla Sun Life MF, HDFC Mutual Fund MF, Tata AIA Life Insurance Co Ltd, SBI Life Insurance Co Ltd, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Goldman Sachs and Societe Generale are among the anchor investors.
The issue opens for public subscription on December 10, with a price band of ₹ 485-500 per share and will conclude on December 14.
The public issue is expected to fetch ₹ 1,367.5 crores, at the upper end of the price band
.
The fresh funds will be used for general corporate purposes and for opening new stores of the company, under the Crocs, Walaway, Mochi and Metro brands.
Spread across 136 cities in India, at present, the company has 598 stores.
35 per cent of the issue size has been reserved for retail investors, 15 per cent for non-institutional investors and a half for qualified institutional buyers.
Targeting the economy, mid and premium segments in the footwear market the company is an Indian footwear retailer.
In 1955, it opened its first store in Mumbai under the ‘Metro’ brand and is a one-stop shop for all footwear needs.
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