Metro Brands IPO subscribed 3.64 instances on final day of subscription

The preliminary public supply of footwear retailer Metro Brands Limited was subscribed 3.64 instances on the final day of subscription on Tuesday.
The Rs 1,367.5-crore IPO obtained bids for six,96,12,480 shares towards 1,91,45,070 shares on supply, based on NSE information.
The class for Qualified Institutional Buyers (QIBs) garnered 8.49 instances subscription, whereas these for non-institutional traders 3.02 instances and Retail Individual Investors (RIIs) 1.13 instances.
The firm, which is backed by ace investor Rakesh Jhunjhunwala, on Thursday raised over Rs 410 crore from anchor traders.

The preliminary public supply (IPO) had a recent challenge of Rs 295 crore and a proposal on the market of as much as 2,14,50,100 fairness shares.
The value vary for the supply was Rs 485-500 per share.
The proceeds from the recent challenge will probably be utilised in direction of expenditure for opening new shops of the corporate, beneath the ‘Metro’, ‘Mochi’, ‘Walkway’ and ‘Crocs’ manufacturers and for common company functions.
Currently, the corporate has 598 shops in 136 cities unfold throughout the nation.
Axis Capital Limited, Ambit Private Limited, DAM Capital Advisors Limited, Equirus Capital Private Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited have been the managers of the supply.