Metro Brands IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the Metro Brands IPO release date, IPO offer price, subscription, Metro Brands Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 5 |
| Price Band | Rs 485 to Rs 500 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 30 Shares |
| Listing Date | Dec 22, 2021 |
| Offer for Sale | Rs 10725 Million |
| Fresh Issue | Rs 2950 Million |
| IPO Size | Rs 13675 Million |
| Tick Size | 1 |
Metro Brands IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Metro Brands IPO – Summary
They are one of the largest Indian footwear specialty retailers and are among the aspirational Indian brands in the footwear category. They 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, their Company operated 586 Stores across 134 cities spread across 29 states and union territories in India. They target the economy, mid and premium segments in the footwear market, which together are expected to grow at a higher rate compared to the total footwear industry between Fiscal 2020 and 2025. These segments have a higher presence of organized players and their growth in the overall footwear industry is expected to accelerate the growth of the organized segment in the footwear industry
The Promoter of this company is RAFIQUE A. MALIK, FARAH MALIK BHANJI, ALISHA RAFIQUE MALIK, RAFIQUE MALIK FAMILY TRUST AND AZIZA MALIK FAMILY TRUST. The lead manager to the issue is Axis Capital Limited, Ambit Private Limited, DAM Capital Advisors Limited, Equirus Capital Private Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited, and the Registrar to this issue is Link Intime India Private Limited.
Metro Brands IPO Date
The opening and the closing date of Metro Brands IPO are Dec 10, 2021, and Dec 14, 2021, respectively.
Check out Related IPO Links:
| Metro Brands IPO GMP |
| Allotment – Metro Brands IPO |
Metro Brands IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 10th Dec | 0.00x | 0.02x | 0.52x | 0.27x |
| 2nd Day – 13th Dec | 0.16x | 0.17x | 0.87x | 0.52x |
| 3rd Day – 14th Dec | 8.49x | 3.02x | 1.13x | 3.64x |
| Shares Offered or Net Issue | 5,470,020 | 4,102,515 | 9,572,535 | 19,145,070 |
The shares subscribed by the public will be updated here.
Check Metro Brands IPO LIVE Subscription
- Metro Brands IPO LIVE Bid details on BSE
- Metro Brands IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Metro Brands IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Metro Brands Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Dec 17, 2021 |
| Refunds Initiation | Dec 20, 2021 |
| The credit of Shares to Demat Account | Dec 21, 2021 |
| Share Listing Date | Dec 22, 2021 |
Metro Brands IPO Price Band
The face value of each share is Rs.5, but the price band of the IPO is Rs 485 to Rs 500
Metro Brands IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.5 each for cash at a price of Rs 485 to Rs 500 per equity share aggregating to Rs.13675 Million.
Metro Brands IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.5/ each.
Issue Size: X Equity Shares of Rs.5 each, aggregating to Rs.13675 Million
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Metro Brands IPO – Live Performance
The listing date of this IPO is Dec 22, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Metro Brands Share Price |
Metro Brands IPO Grey Market Premium
The Metro Brands Limited IPO Grey Market Premium price is Rs NA, the Kostak rate is Rs NA and the Subject to Sauda is Rs NA.
Metro Brands IPO – Company Overview
Their Company had the third-highest number of exclusive retail outlets in India, in Fiscal 2021 (Source: CRISIL Report). In Fiscal 2019, 2020, and 2021, they recorded an EBITDA Margin of 27.72%, 27.51%, and 21.36%, respectively. For further information, see “Management’s Discussion and Analysis on Results of Operation and Financial Condition – Non-GAAP Measures – Reconciliation of EBITDA and EBITDA Margin to Restated Profit after Tax for the Year” on page 269.
Their Company recorded a Realization per Unit i.e. revenue from Total Product Sales divided by the volume of Total Product Sales, of ₹ 1,321.29, ₹ 1,345.80, and ₹ 1,327.96, in Fiscal 2019, 2020, and 2021, respectively.
Their Company recorded the highest Realization per Unit compared to the two leading players in India from Fiscal 2019 to Fiscal 2021 and in Fiscal 2020 they recorded the highest operating margins among the key players in India. Additionally, in Fiscal 2021, they recorded the highest net profit margin of 8.1% among footwear players having a majorly retail business model for reaching customers.
They retail footwear under their 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, which complement their in-house brands. They believe these brands have a pan-India appeal across regions. Also, they offer accessories such as belts, bags, socks, masks, and wallets, at their stores. They also retail foot care and shoe care products at their stores through their joint venture, M. V. Shoe Care Private Limited, making us a ‘one-stop-shop for all footwear and related accessories to their customers.
Metro Brands IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 30-Sep-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Total Assets | 17,396.06 | 16,593.40 | 16,174.23 | 13,215.06 |
| *Total Revenue | 4,892.68 | 8,785.38 | 13,110.68 | 12,368.95 |
| Total Expense | 4,332.82 | 7,940.33 | 10,926.51 | 10,087.67 |
| Profit After Tax | 430.74 | 652.17 | 1,597.29 | 1,512.01 |
Earnings per Equity Share (in Million)
| 30-Sep-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 1.62 | 2.43 | 6.05 | 5.75 |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 652.17 Million, Rs. 1,597.29 Million, and Rs. 1,512.01 Million respectively.
Metro Brands IPO – Promoters
The Promoter of this company is:
- RAFIQUE A. MALIK
- FARAH MALIK BHANJI
- ALISHA RAFIQUE MALIK
- RAFIQUE MALIK FAMILY TRUST
- AZIZA MALIK FAMILY TRUST
List of Related Parties (Key Managerial Personnel)
- Rafique A. Malik, Chairman
- Farah Malik Bhanji, Managing Director
- Mohammed Iqbal Hasanally Dossani, Whole-time Director
- Utpal Hemendra Sheth, Non-Executive Director
- Manoj Kumar Maheshwari, Independent Director
- Aruna Bhagwan Advani, Independent Director
Metro Brands IPO – Promoters Holding
- Pre Issue Share Holding – 83.99%
- Pos Issue Share Holding – %
Metro Brands IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.13675 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 265,534,290 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Metro Brands IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Expenditure for opening new stores of the Company, under the “Metro”, “Mochi”, “Walkway” and “Crocs” brands (“New Stores”); and
- General corporate purposes
Metro Brands IPO – Business Strategy
- Expand their store network in existing and new Indian cities
- Leverage their multi-channel platform to pursue new business opportunities
- Increase the contribution of e-commerce and omnichannel sales as a proportion of their sales
- Expand the portfolio of accessories and grow other allied businesses
- Evaluate accretive inorganic growth opportunities
- Introduce and expand their portfolio of environmentally sustainable footwear
Metro Brands IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of India’s largest pan India footwear retailers with a brand appeal among aspirational consumer segments in the fast-growing footwear retail industry;
- Wide range of brands and products catering to all occasions across age groups and market segments resulting in strong customer loyalty;
- Efficient operating model through deep vendor engagements and TOC based supply chain;
- Asset light business with an efficient operating model leading to sustained profitable growth;
- Presence across multiple formats and channels;
- The platform of choice for third party brands looking to expand in India;
- Strong promoter background and an experienced and entrepreneurial management team with a proven track record and a high degree of employee ownership; and
- Strong track record of growth, profitability, and financial discipline.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 2.43 | 8.24 | 31.17 |
| 31-Mar-20 | 6.05 | 19.41 | – |
| Mar-19 | 5.75 | 22.75 | – |
Metro Brands IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Metro Brands Limited | 5 | NA | 2.43 | 8.24 | 8,785.38 |
| Listed Peers | |||||
| Bata India Limited | 5 | NA | (6.95) | -5.08 | 18,025.65 |
| Relaxo Footwears Limited | 1 | 99.07 | 11.74 | 18.54 | 23,819.20 |
Metro Brands IPO Lead Managers
| Lead Managers |
|
Axis Capital Limited Ambit Private Limited DAM Capital Advisors Limited Equirus Capital Private Limited ICICI Securities Limited Motilal Oswal Investment Advisors Limited |
Metro Brands IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400 083, Maharashtra, India Telephone: +91 22 4918 6200 E-mail: metrobrands.ipo@linkintime.co.in Investor grievance E-mail: metrobrands.ipo@linkintime.co.in Website: www.linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Metro Brands IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells, Chartered Accountants
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – RBL Bank Limited & ICICI Bank Limited
Metro Brands IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Metro Brands Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Metro Brands IPO Review FAQs
Ques – What is the Issue Size of Metro Brands IPO?
Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price band of Metro Brands IPO?
Answer – The price band for this particular IPO ranges between Rs 485 to Rs 500. As far as the face value of the share is of concern, it is Rs.5 per share.
Ques – What is the Metro Brands IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Dec 10, 2021, while the closing date is set at Dec 14, 2021.
Ques – What is the Metro Brands IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Dec 17, 2021, refund initiation is on Dec 20, 2021, credit of shares is on Dec 21, 2021, and share listing date is on Dec 22, 2021.
Ques – What is the Metro Brands IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges Dec 22, 2021. The date, when the listing would be done, is stagnant on Dec 22, 2021.
Ques – Who is the Registrar of Metro Brands IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Metro Brands IPO?
Answer – Here are the promoters of this IPO – RAFIQUE A. MALIK, FARAH MALIK BHANJI, ALISHA RAFIQUE MALIK, RAFIQUE MALIK FAMILY TRUST, AND AZIZA MALIK FAMILY TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of Metro Brands IPO?
Answer – They have obtained the GMP of this IPO and it is Rs NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Metro Brands IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Metro Brands Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 652.17, 2020 is 1,597.29, 2019 is 1,512.01.
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