Rakesh Jhunjhunwala-backed footwear retailer Metro Brands on December 9 mobilised Rs 410.25 crore from 28 anchor investors, ahead of its public issue, which opens tomorrow.
The company will open its offer for subscription on December 10 and the issue will close on December 14, 2021.
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The company, that opened its first store under the Metro brand in Mumbai in 1955, has finalised allocation of 82,05,030 equity shares to anchor investors at a price of Rs 500 per equity share.
Marquee investors who invested in the company through anchor book included Goldman Sachs, Abu Dhabi Investment Authority, University of Notre Dame DU LAC, GMO Emerging Domestic Opportunities Fund, Pinebridge India Equity Fund, Societe Generale and Valiant India Opportunities.
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Domestic investors including ICICI Prudential, HDFC Trustee, Kotak Mutual Fund, SBI Life Insurance, HDFC Life Insurance, Tata AIA Life Insurance, Tata Mutual Fund, Sundaram Mutual Fund, and UTI MF also bought shares in the company.
Metro Brands aims to raise Rs 1,367.5 crore through its initial public offering that comprises a fresh issue of shares worth Rs 295 crore and an offer for sale of 2,14,50,100 equity shares by promoters.
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The price band for the offer has been fixed at Rs 485-Rs 500 per equity share.
The company will open new stores under its Metro', 'Mochi', 'Walkway' and 'Crocs' brands, through the fresh issue money.
Metro Brands as of September 2021, operated 598 stores across 136 cities spread across 30 states and union territories in India, having own retail footwear brands like Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop.
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