{"id":7821,"date":"2021-12-09T22:33:48","date_gmt":"2021-12-09T17:03:48","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-anchor-metro-brands\/"},"modified":"2021-12-10T10:03:00","modified_gmt":"2021-12-10T04:33:00","slug":"biz-anchor-metro-brands","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-anchor-metro-brands\/","title":{"rendered":"Metro Brands raises Rs 410 cr from anchor investors ahead of IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-873478362\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Dec 9\u00a0 (PTI) Footwear retailer Metro Brands Ltd, which is backed by ace investor Rakesh Jhunjhunwala, on Thursday said it has collected a little over Rs 410 crore from anchor investors ahead of its IPO rollout on Friday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3109599770\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>\u00a0 \u00a0 \u00a0The company has allotted 82.05 lakh equity shares to anchor investors at Rs 500 apiece, taking the total transaction size to Rs 410.25 crore, according to a BSE circular.<\/p>\n<p>\u00a0 \u00a0 \u00a0 Societe Generale, Goldman Sachs, Abu Dhabi Investment Authority, HDFC Life Insurance Company, SBI Life Insurance Co Ltd, Tata AIA Life Insurance Co Ltd, HDFC Mutual Fund (MF), Aditya Birla Sun Life MF,\u00a0 Sundaram MF and ICICI Prudential MF are among the anchor investors.<\/p>\n<p>\u00a0 \u00a0 \u00a0The initial share-sale comprises fresh issuance of equity shares worth Rs 295 crore and an offer for sale of 2.14 crore equity shares by promoters and other shareholders.<\/p><div class=\"trade-content_5\" id=\"trade-1251468522\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00a0 \u00a0 \u00a0 Through the IPO, the company&#8217;s promoters will offload nearly 10 per cent stake.\u00a0 Currently, the promoters and promoter group hold 84 per cent stake in the company.<\/p>\n<p>\u00a0 \u00a0 \u00a0 The issue, with a price band of Rs 485-500 per share, opens for public subscription on December 10 and will conclude on December 14.\u00a0 \u00a0 \u00a0 \u00a0 At the upper end of the price band, the public issue is expected to fetch Rs 1,367.5 crore.<\/p>\n<p>\u00a0 \u00a0 \u00a0Proceeds of the fresh issue will be used towards expenditure for opening new stores of the company, under the &#8216;Metro&#8217;, &#8216;Mochi&#8217;, &#8216;Walkway&#8217; and &#8216;Crocs&#8217; brands and for general corporate purposes.<\/p>\n<p>\u00a0 \u00a0 \u00a0At present, the company has 598 stores in 136 cities spread across India.\u00a0 \u00a0 \u00a0 \u00a0 Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors.<\/p>\n<p>\u00a0 \u00a0 \u00a0Investors can bid for a minimum of 30 equity shares and in multiples thereof.<\/p>\n<p>\u00a0 \u00a0 \u00a0 The company is an Indian footwear retailer, targeting the economy, mid and premium segments in the footwear market.<\/p><div class=\"trade-content-10\" id=\"trade-3141411257\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00a0 \u00a0 \u00a0 \u00a0It opened its first store under the &#8216;Metro&#8217; brand in Mumbai in 1955 and has since evolved into a one-stop shop for all footwear needs.<\/p>\n<p>\u00a0 \u00a0 \u00a0 Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors are the book running lead managers to the IPO.<\/p>\n<p>PTI SP\u00a0          RUJ RUJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-2631798332\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 9\u00a0 (PTI) Footwear retailer Metro Brands Ltd, which is backed by ace investor Rakesh Jhunjhunwala, on Thursday said it has collected a little over Rs 410 crore from anchor investors ahead of its IPO rollout on Friday. \u00a0 \u00a0 \u00a0The company has allotted 82.05 lakh equity shares to anchor investors at Rs [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-7821","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Metro Brands raises Rs 410 cr from anchor investors ahead of IPO - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-anchor-metro-brands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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