Metro Brands Ltd IPO- 10th December, 2021
Company Background
Metro brands is one of the largest Indian footwear speciality retailers, and are among the aspirational Indian brands in the footwear category. The company opened their first store under the Metro brand in Mumbai in 1955, and have since evolved into a one-stop shop for all footwear needs, by retailing a wide range of branded products for the entire family including men, women, unisex and kids, and for every occasion including casual and formal events. As of March 31, 2021, the Company operated 586 Stores across 134 cities spread across 29 states and union territories in India.
Business Information
The company has a very customer centric loyalty program called including Club Metro, My Mochi and Crocs Club. Club Metro has 4.85 million members as of FY21, My Mochi has 3.29 million members in FY21. The Crocs Club membership was launched very recently in FY20 and has a current membership of 0.45 million.
Facts about the company
The company needs to keep an eye out and promptly identify any new trends or preferences of the customers, and act on it immediately
The company has a good and long standing relationship of over two decades, with all its vendors.
The footfall could be affected by any negative perception of the people about the brand or the lack of awareness regarding the brand
Points to note before investing in
It is the partner of choice for third party brands who are looking to expand their operations in India.
Metro Brands is one of the largest footwear companies in the country with a pan-India presence.
They have third highest number of retail stores in India, as of FY21
Strong promoter background and an experienced management team
Strong track record of growth and profitability
Efficient operating model and asset-light business
IPO Opening Date | Dec 10, 2021 |
IPO Closing Date | Dec 14, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | ₹5 per equity share |
IPO Price | ₹485 to ₹500 per equity share |
Market Lot | 30 Shares |
Min Order Quantity | 30 Shares |
Listing At | BSE, NSE |
Allotment, Listing and Refunds details
Basis of Allotment Date | Dec 17, 2021 |
Initiation of Refunds | Dec 20, 2021 |
Credit of Shares to Demat Account | Dec 21, 2021 |
IPO Listing Date | Dec 22, 2021 |
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