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Metro Brands IPO: 52% subscribed company’s IPO on the second day, check full details

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Metro Brands IPO Update: The initial public offering (IPO) of Metro Brands got 52 per cent subscription on the second day of the issue on Monday. According to National Stock Exchange data, 99,49,320 shares were received for the IPO of 1,91,45,070 shares of well-known investor Rakesh Jhunjhunwala-backed footwear retailer company.

New shares issued worth Rs 295 crore
The retail individual investor segment subscribed 87 per cent and the non-institutional investor category 17 per cent. At the same time, 16 percent subscription was received in the eligible institutional buyer category. Under the IPO, new shares worth Rs 295 crore have been issued and an offer for sale (OFS) of 2,14,50,100 equity shares has been brought.

What is the price band of IPO
The price range for the IPO has been fixed at Rs 485 to Rs 500 per share. The company had raised Rs 410 crore from anchor investors on Thursday. Rs 1,367.5 crore will be raised from the IPO at the upper end of the price range.

metro business
The Metro brand opened its first store in Mumbai in 1955. Since then it has grown into a one-stop shop for a large retail chain of branded products for men, women, unisex and the entire family including kids.

total income
Metro Brands had a total revenue of Rs 490 crore in the July-September quarter. Metro Brands had a total income of Rs 228 crore in the same period a year ago. Metro Brands’ net profit in the September quarter stood at Rs 43 crore. In the same quarter last year, the company had a loss of Rs 41 crore.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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