Widely read:
Metro Brands is an Indian footwear retailer targeting the economy, mid and premium segments. The total size of the IPO is Rs 1,368 crore, of which Rs 1,073 crore is an offer for sale and Rs 295 crore is a fresh issue. The company plans to use the fresh proceeds to open new stores. The company is backed by the famed Indian investor Rakesh Jhunjhunwala who, through his wife (Rekha Jhunjhunwala), bought a stake in the company in 2007.
The company retails footwear under its own 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. The company's retail operations are carried out through its stores and distributors as well as through online channels. As of September 30, 2021, it operated 598 stores across 136 cities spread across 30 states and union territories in India. Metro Brands sources all its products through outsourcing arrangements. The majority of its in-house products are procured from India and the remaining from various countries including Brazil and China.
Post-IPO, the promoters will hold a 75.9 per cent stake and Rakesh Jhunjhunwala will hold a 13.9 per cent stake in the company.
We will also come out with a detailed analysis of the IPO. Meanwhile, you can read our other IPO related stories:
Five ways to protect your hard-earned money in an IPO-crazed world
Why Paytm's weak listing is not a surprise
Investing on listing day: Is it a good idea?
India's biggest IPOs, where are they now?
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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