Rakesh Jhunjhunwala-backed Metro Brands IPO opens on December 10, closes on December 14

Asia's Tech News Daily

#IPO - Upcoming Issues, #Metro Brands, public issue, initial public offering, Click Here

Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala is the third largest shareholder in the company, owning 14.73 percent stake.

Ace investor Rakesh Jhunjhunwala-backed Metro Brands has decided to open its maiden public offer for subscription on December 10. The price band and lot size will be announced by the company next week.

This would be the third public issue getting opened for subscription in the coming week, after RateGain Travel Technologies and Shriram Properties.

The initial public offering of Metro Brands comprises a fresh issue of Rs 295 crore, and an offer for sale of 2,14,50,100 equity shares by promoters.

The offer for sale consists of 1,30,15,000 equity shares by the promoter selling shareholders, 84.2 lakh equity shares by promoter group selling shareholders, and the remaining 8,100 equity shares by other selling shareholders.

Also read – Why Rakesh Jhunjhunwala-backed Star Health’s IPO failed to enthuse investors

The company has undertaken a private placement of 73,136 equity shares for Rs 3.29 crore. Accordingly, the fresh issue size was reduced from Rs 250 crore to Rs 246.7 crore. But thereafter, it has increased the fresh issue size to Rs 295 crore, the company stated in its prospectus.

Metro Brands, one of the largest Indian footwear speciality retailers, will utilise its net proceeds from fresh issue for opening new stores, under the ‘Metro’, ‘Mochi’, ‘Walkway’ and ‘Crocs’ brands, and general corporate purposes.

Click Here To Know All IPO Related News

As of September 2021, the company, having the third highest number of exclusive retail outlets in India in FY21, operated 598 stores across 136 cities spread across 30 states and union territories in India.

Metro Brands sells 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. It also retails footcare and shoe-care products at stores through joint venture, M V Shoe Care Private Limited.

Revenue from the sale of in-house brands and third-party brands in multi-brand outlets stores represented 69.24 percent and 30.76 percent of revenue from MBOs in fiscal 2021, respectively.

Also read– Shriram Properties IPO to hit Dalal Street on December 8, to raise Rs 600 crore

Its profit declined significantly to Rs 64.62 crore in FY21 from Rs 160.57 crore in FY20 due to Covid-led lockdowns. Revenue dropped sharply to Rs 800.06 crore from Rs 1,285.16 crore in the same period.

In the six-month period ended September 2021, the company recorded a profit of Rs 43.07 crore against a loss of Rs 43.11 crore in the same period last year. Revenue surged to Rs 456 crore from Rs 176.54 crore during the same period.

Among shareholders, Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala is the third largest shareholder in the company, owning a 14.73 percent stake, while promoter and promoter group owned 83.99 percent stake.

Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors are the book running lead managers to the issue.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Moneycontrol PRO & Espresso present Nifty Banker 2.0 on Friday, 21st January, at 8 pm, with Arjun Bhatia on “How to Trade Bank Nifty for a living”

Nifty Banker 3 | Representative image In this third Nifty Banker 2.0 webinar, watch Arjun Bhatia, Founder, www.arjunbhatia.in share insights on ‘How to Trade Bank Nifty for a living’ Click ... Read more »

Inox Leisure reports Q3 net loss of Rs 1.32 crore

Multiplex chain operator Inox Leisure Ltd on Friday reported narrowing of its consolidated net loss at Rs 1.32 crore for the third quarter ended December 2021 as the film exhibition ... Read more »

Buy Sonata Software; target of Rs 1050: ICICI Direct

ICICI Direct’s research report on Sonata Software Sonata Software (Sonata) offers IT services (30%) and product licensing & deployment (70%). The company provides IT services to travel, retail, agri & ... Read more »

‘I don't like to play first violin'

Marietta: „I am a violin maker. Crazy that it’s called that, because I also make cellos and violas. And I don’t build much anyway. Most of the time I repair ... Read more »

RIL Q3 Results Highlights | Consolidated EBITDA at Rs 33,886 crore, oil & gas segment revenue up 493.7% YoY; 'stellar performance', says Mukesh Ambani

RIL Q3 Results Highlights | “I am happy to announce that Reliance has posted yet another quarter of stellar performance in 3Q FY22. We have delivered record operational results with strong ... Read more »

Moldova's Prime Minister calls Gazprom's demand to pay off debt ‘unfriendly move'

According to Natalia Gavrilita, Gazprom could "find a commercial solution" Read more »

Buy Sonata Software; target of Rs 1087 : KR Choksey

KR Choksey’s research report on Sonata Software Sonata Software Ltd (SSOF) Q3FY22 performance was higher than our estimate. Dollar Revenue was up materially by 9% QoQ to USD 53.4Mn (KRChoksey ... Read more »

Tork Kratos finally launches on January 26. Here's what we know so far

Tork Kratos is set for launch on January 26 with bookings expected to begin in March. The electric vehicle (EV) segment seems to be powering on in India even as ... Read more »

World Economic Forum has new date for summit in Davos

Photo: ANP The organizers of the World Economic Forum (WEF) have set a new date for the international summit. It will now be held in the Swiss ski village of ... Read more »

Borrow, borrow, then also pay, pay

While he provided a number of loans to his own BV a year earlier, totaling €400,000. The tax authorities therefore also charge him for those 4 tons plus €35,000 in ... Read more »

Bitcoin Continues Down, Drops Below $39,000

Photo: ANP Bitcoin’s value continued to fall on Friday. The digital currency fell almost 9 percent to USD 38,950 (EUR 34,390). That is the lowest level in more than five ... Read more »

EU complaints against Russian lumber export restrictions not justified — Economy Ministry

Russian representatives "intend to give exhaustive clarifications in respect of applied measures" within the framework of consultations on the WTO floor, the ministry’s press service said Read more »

TotalEnergies withdraws from Myanmar

Photo: ANP Oil and gas group TotalEnergies is withdrawing from Myanmar due to the deteriorating human rights situation in the country. Since the coup by the military junta in February ... Read more »

RIVM: poor view of precise Tata Steel emissions, probably much higher

Actual emissions of metals and PAHs at the Tata Steel site are likely to be much greater than reported emissions. That is the conclusion of the RIVM in a new ... Read more »

A quarter of PostNL in the hands of Czech billionaire

Photo: ANP Czech billionaire Daniel Křetínský has again expanded his stake in PostNL. He now owns a quarter of the company. It is not clear what Křetínský’s further plans are. ... Read more »

French energy company TotalEnergies out of Myanmar

TotalEnergies withdraws from Myanmar. This French oil and gas group is doing so because of the deteriorating human rights situation in the country. The withdrawal should be completed in six ... Read more »

China hints at more measures against big tech companies

Photo: ANP China wants to further curb the influence of large technology companies in the country. The country also wants to eradicate the corruption that, according to the communist regime, ... Read more »

Euro countries' government debt still high

Photo: ANP The government debts of the euro countries have fallen slightly, but were still sky-high at the end of the third quarter of 2021. Total debt in the eurozone ... Read more »

Corona wiped out a large part of Dutch pop music income

Photo: ANP Dutch pop music has brought in much less money abroad due to the outbreak of the corona pandemic. Performances were canceled worldwide after the outbreak of the lung ... Read more »

Crucial professions are stirring quarantine rules

Photo: ANP More and more sectors are calling for the relaxation of the quarantine rules due to personnel problems due to infections. Various sector organizations of crucial professions, such as ... Read more »

RIVM: more harmful substances in the environment than Tata report explains

RIVM sees much higher concentrations of metals and carcinogens in the vicinity of Tata Steel than expected based on the company’s own emissions figures. That is the most striking conclusion ... Read more »

‘Energy companies hide variable rate contracts'

That says the Consumers’ Association, which has viewed the websites of 27 providers. By law, providers are obliged to make such a contract easy to find on the site. There ... Read more »

ICICI Bank Q3 Preview | Healthy growth likely across key earnings parameters with stable asset quality

ICICI Bank ICICI Bank, the country’s second-largest private sector lender, is expected to report healthy earnings growth across key parameters with falling provisions and stable asset quality, which is largely ... Read more »

Metal companies less positive due to material shortages

Photo: ANP SMEs in the metal sector have become significantly less positive about the expectations for the first quarter of 2022. The biggest challenges for the sector are the increased ... Read more »

Kroger workers' strike in Colorado ends after 10 days, tentative deal reached

More than 8,000 workers were on strike against the largest grocery store chain in the state seeking a pay increase, better health benefits and stricter Covid safety measures. Read more »

Beter Bed: no need for higher prices despite uncertainties

Photo: ANP Bed manufacturer Beter Bed, which also owns the Beddenreus chain and the mattresses of M line, sees no need to structurally raise the prices of its products due ... Read more »

Bitcoin slumps hard with tumbling to well below $40,000

On crypto platform Coindesk, bitcoin fell sharply to below $39,000, with a loss of more than 7% around 7 a.m. (Dutch time). Bitcoin is under pressure from the expectation that ... Read more »

AEX index heads for loss after Wall Street negative turn

Photo: ANP The Amsterdam stock exchange seems to open with a significant loss on Friday after the negative spin on Wall Street. The American tech gauge Nasdaq gave a profit ... Read more »

Employers can control absenteeism with these tips

Podcast Money CloseSickness absence is skyrocketing. Occupational health and safety services report increases of 30 to more than 50 percent. But what can you as an employer do to keep ... Read more »

RIVM: many more pathogenic substances in the air than Tata Steel says

“It is a big and remarkable difference,” says researcher Janneke Elberse of the RIVM. The ‘gap’ between expected and measured concentrations is mainly visible in metals and PAHs, or polycyclic ... Read more »

Brewers busy supplying the catering industry with beer again

The brewers therefore call on the cabinet to allow the catering industry to open its doors again next week, with a closing time in the evenings so that sales can ... Read more »

Brits worry about rising living costs

Photo: ANP British households are very concerned about the increasing cost of living due to high inflation. Consumer confidence fell sharply this month, reaching the lowest level since the low ... Read more »

Future Retail accuses Amazon of attempting to block its OTR scheme, asks US giant to repay dues to lenders

The independent directors of Future Retail Limited (FRL) have responded to Amazon’s letter dated January 19 and asked the e-commerce giant to pay Rs 3,500 crore to FRL so that ... Read more »

GM unveils new high-performance Cadillac Escalade V-Series SUV

2023 Cadillac Escalade V-SeriesCadillac DETROIT – General Motors will offer a new performance version of its flagship Cadillac Escalade SUV, adding to a growing lineup of high-power gasoline vehicles ahead ... Read more »

Google facing new fine for refusal to remove data prohibited in Russia — Court

Since early 2021, Google was repeatedly fined for failure to remove information prohibited in Russia Read more »

Mars gives M&M's a makeover to promote inclusivity

Candy maker Mars is giving a makeover to its six M&M’s characters as a way to promote inclusivity. The company said that it will provide a modern take on the ... Read more »

Wagamama owner warns bounce-back in consumer confidence after Plan B may take a while

The Restaurant Group revealed how its sales recovery was dampened by the restrictions and welcomed the announcement that they would be lifted. Read more »

Netflix gets hit on Wall Street after disappointing growth figures

Photo: ANP Netflix dropped significantly on Wall Street on Friday. Investors were unhappy about the disappointing number of new subscribers to the video streaming service. At 8.3 million, that fell ... Read more »

Spied by the boss: employers are violating privacy with CCTV

Employers simply misuse surveillance cameras to monitor employees. This is evident from conversations with 23 employees who were monitored by their boss and from dozens of complaints that are submitted ... Read more »

Think your home value is soaring? Talk to a farmer

The Associated PressThis 2018 photo shows Jeff Frank on his farm near Auburn, Iowa. Frank doesn’t feel rich, but simply based on the skyrocketing value of his land in northwest ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic