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Apply for Metro Brands IPO

Starting from 1995, Metro Brands has become one of the largest speciality footwear retailers in this country in over 2 decades of operations. Currently, as of 31 March 2021, Metro Brands has 586 stores spread across 134 cities of India. Over the years, Metro Brands has evolved as a one-stop-shop for footwear. The company boasts an extensive product line-up catering to men, women and kids. Moreover, Metro Brands primarily targets the mid and premium segment, which holds the biggest sales number and growth potential. Some of the notable brands under its umbrella are Metro, Walkway, Mochi, J Fontini, and Da Vinchi. Besides its physical presence, Metro Brands has a strong online presence as well by selling through their own website and e-commerce platforms. Metro Brands also has a subsidiary name Metmill Footwear Private Limited and a joint venture with M.V. Shoe Care Private Limited. The company primarily uses a COCO (company-owned and company-operated) model for its retail operations.

Metro Brands IPO Objectives :

● Meeting the expenses of opening new outlets for brands like Mochi, Metro, Crocs, and Walkway

● Meeting general corporate purpose

Metro Brands IPO – Details

The draft red herring prospectus filed with SEBI states that this public issue is likely to be worth about Rs. 1367 crores. Moreover, this initial public offering will include fresh issue equity shares of Rs. 295 crores and an OFS of 21,450,100, amounting to around Rs. 1072 crores. This public is going live on 10 December 2021 and closes on 14 December 2021.

Furthermore, the classification of share allocations for different categories is as follows –
1. For Qualified Institutional Buyers, it is not more than 50%
2. For Retail Individual Investors, it is 35%
3. For Non-institutional Investors, it is 15%
Additionally, the promoters of the company are planning to offload 10% of their stake through this public offering.
Moving ahead, Metro Brands has appointed the following financial institutions as the lead managers of this IPO –
1. Axis Capital Limited
2. DAM Capital Advisors Limited
3. Ambit Private Limited
4. ICICI Securities Limited
5. Equirus Capital Private Limited
6. Motilal Oswal Investment Advisors Limited
Besides, the registrar of this initial public offering is Link Intime India Private Limited.

Opening Date

10 Dec 2021

Closing Date

14 Dec 2021

Price Band

₹485 to ₹500

per equity share

Issue Size

₹1,367.51 Cr

Face Value

₹ 5

per equity share

Market Lot

30 Shares

Opening Date

10 Dec 2021

Closing Date

14 Dec 2021

Price Band

₹485 to ₹500

per equity share

Issue Size

₹1,367.51 Cr

Face Value

₹ 5

per equity share

Market Lot

30 Shares

Listing at NSE, BSE

Metro Brands IPO – Important Dates

IPO Open Date 10 Dec 2021
IPO Close Date 14 Dec 2021
Basis Of Allotment Date 17 Dec 2021
Initiation Of Refunds 20 Dec 2021
Credit Of Shares To
Demat ACcount		 21 Dec 2021
IPO Listing Date 22 Dec 2021

Metro Brands IPO Latest News and Subscription Status Today [Live]

At 11:40:00 AM.

- This IPO has been subscribed 0.64x by 11:40 AM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.43x
- (NII) Non-institutional buyers: 0.20x
- (RII) Retail Individual buyers: 0.94x

At 12:40:00 p.m.

- This IPO has been subscribed 0.68x by 12:40 PM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.43x
- (NII) Non-institutional buyers: 0.33x
- (RII) Retail Individual buyers: 0.97x

At 1:40:00 p.m.

- This IPO has been subscribed 0.68x by 1.40 PM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 3.12x
- (NII) Non-institutional buyers: 0.49x
- (RII) Retail Individual buyers: 1.02x

At 2:40:00 p.m.

- This IPO has been subscribed 1.87x by 2.40 PM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 4.20x
- (NII) Non-institutional buyers: 0.66x
- (RII) Retail Individual buyers: 1.05x

At 3:30:00 p.m.

- This IPO has been subscribed 3.00x by 3:30 AM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 7.52x
- (NII) Non-institutional buyers: 1.48x
- (RII) Retail Individual buyers: 1.07x

At 4:20:00 p.m.

- This IPO has been subscribed 3.63x by 4:20 PM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 8.49x
- (NII) Non-institutional buyers: 3.02x
- (RII) Retail Individual buyers: 1.11x

At 5:10:00 p.m.

- This IPO has been subscribed 3.64x by 5:10 PM. on Day 3
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 8.49x
- (NII) Non-institutional buyers: 3.02x
- (RII) Retail Individual buyers: 1.13x

At 10:40:00 AM.

- This IPO has been subscribed 0.34x by 10:40 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 0.66x

At 12:10:00 AM.

- This IPO has been subscribed 0.37x by 12:10 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.03x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 0.71x

At 1:10:00 AM.

- This IPO has been subscribed 0.39x by 12:40 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.03x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 0.74x

At 2:10:00 AM.

- This IPO has been subscribed 0.40x by 2:10 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.03x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 0.76x

At 3:10:00 AM.

- This IPO has been subscribed 0.44x by 3:10 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.03x
- (NII) Non-institutional buyers: 0.16x
- (RII) Retail Individual buyers: 0.79x

At 4:10:00 AM.

- This IPO has been subscribed 0.48x by 4:10 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.16x
- (NII) Non-institutional buyers: 0.17x
- (RII) Retail Individual buyers: 0.80x

At 5:10:00 AM.

- This IPO has been subscribed 0.52x by 5:10 AM. on Day 2
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.16x
- (NII) Non-institutional buyers: 0.17x
- (RII) Retail Individual buyers: 0.87x

At 10:40:00 AM.

- This IPO has been subscribed 0.09x by 10:40 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.18x

At 11:40:00 AM.

- This IPO has been subscribed 0.13x by 11:40 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.26x

At 12:40:00 AM.

- This IPO has been subscribed 0.18x by 12:40 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.35x

At 2:10:00 AM.

- This IPO has been subscribed 0.20x by 2:10 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.39x

At 3:10:00 AM.

- This IPO has been subscribed 0.22x by 3:10 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.44x

At 4:10:00 AM.

- This IPO has been subscribed 0.24x by 4:10 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.47x

At 5:10:00 AM.

- This IPO has been subscribed 0.27x by 5:10 AM. on Day 1
- It is a public issue of 1,91,45,070 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.52x

Why Should I Invest in Metro Brands IPO?

Here are some of the reasons why investing in Metro Brands IPO can be a good choice –

1. The business model of Metro Brands is unique. It operates in an asset-light model that reduces the capital cost of the business, leaving more room for venturing into new verticals.
2. Also, there are not enough competitors in the market who offer such a diverse product portfolio. The multi-brand approach and the COCO model have helped the company maintain its optimal customer experience.
3. The backing of strong investors and experienced promoters keep the company financially viable.
4. Furthermore, experienced and efficient management helps it to stay on track.

Financial Highlights

Financial Year Total Assets Total Income Total Expenses Profit After Tax
March FY2021 Rs. 16,593.40 Rs. 8,785.38 Rs. 7,940.33 Rs. 646.19
March FY2020 Rs. 16,174.23 Rs. 13,110.68 Rs. 10,926.51 Rs. 1,605.75
March FY2019 Rs. 13,215.06 Rs. 12,368.95 Rs. 10,087.67 Rs. 1,527.31
**Amount is mentioned in millions

How to apply for Metro Brands IPO?

You can apply for the Metro Brands IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Metro Brands IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for Metro Brands IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

Metro Brands IPO – Noteworthy Highlights

Here are notable pointers about Metro Brands that potential investors should be aware of –

1. Metro Brands is the largest multi-brand footwear retailer in India. It has a presence in all 29 states and union territories.
2. Its retail model is primarily focused on the COCO model for a better customer experience. However, the company also focuses on developing Exclusive Brand Outlets for third-party products.
3. Metro Brands has no manufacturing facility of its own. Instead, it depends on the channel of vendors for products. This allows the company to lower its manufacturing cost and focus more on retailing products better.
4. It boasts a strong financial track record, and a quick look at the balance sheet will suggest the same. Nevertheless, the previous financial year has been tough due to COVID-19, which saw a drop in profits. 

Metro Brands IPO - SWOT Analysis

strengths

Strengths

  • Strong brand presence: The online, as well as the physical presence of Metro Brands, is one of its biggest strengths. It helps the brand to be more visible in every part of India.
  • Asset-light business model: The business model of Metro Brands devoid of manufacturing units allows it to focus more on outreach. Also, it reduces capital expenditure.
Weaknesses

Weaknesses

  • Recent financial woes: The previous financial year has been tough for the company. The revenues have lowered, and so has the profit. However, it seems like a temporary thing.
Opportunities

Opportunities

  • Tie-ups with international brands: The company has entered a strategic partnership with brands like Crocs, Clarks, etc. These tie-ups in the coming years are likely to bring in more revenues as the company expands its exclusive brand stores.
Threats

Threats

  • Issues with the vendors and distributors: Since Metro Brands totally relies on vendors and distributors for its products, any issues here can create a serious problem.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Strong brand presence: The online, as well as the physical presence of Metro Brands, is one of its biggest strengths. It helps the brand to be more visible in every part of India.
  • Asset-light business model: The business model of Metro Brands devoid of manufacturing units allows it to focus more on outreach. Also, it reduces capital expenditure.

Weaknesses 

  • Recent financial woes: The previous financial year has been tough for the company. The revenues have lowered, and so has the profit. However, it seems like a temporary thing.

Opportunities 

  • Tie-ups with international brands: The company has entered a strategic partnership with brands like Crocs, Clarks, etc. These tie-ups in the coming years are likely to bring in more revenues as the company expands its exclusive brand stores.

Opportunities 

  • Issues with the vendors and distributors: Since Metro Brands totally relies on vendors and distributors for its products, any issues here can create a serious problem.

Competitive Analysis: Market Peers

Here is how the listed peers of Metro Brands are performing on 8 December 2021 –

Competitor Face value Sector P/E Market Cap. Dividend yield
Bata India Ltd 5 111.45 Rs. 25,527 crores 0.20
Khadim India Limited 10 111.45 Rs. 460 crores NA

Metro Brands IPO FAQs

How to apply for the initial public offering of Metro Brands IPO via the Angel One App?

To apply for an IPO using the Angel One app, follow the steps mentioned below –
Step 1: Go to the ‘investment opportunities’ section on the mobile app of Angel One
Step 2: Visit the ‘IPOs and FPOs’ section and provide the needed information
Step 3: Enter your UPI handle certified by NPCI
Step 4: After that, click on ‘invest’ and submit your bid for this Metro Brands IPO

Can I submit bids for the IPO of Metro Brands without using a UPI ID?

Yes, you can submit bids for the initial public offering of Metro Brands without using a UPI ID. In that case, you need to take the help of the ASBA process provided by your bank. However, if you do not have a UPI ID, you can generate one without any hiccups by referring to any of the UPI handles on the NPCI List.

Should I accept a UPI mandate immediately?

Yes, you should accept a UPI mandate once you get it. However, this approval window stays open from the closing bell of the last working day to the 12 noon the next one.

How to accept a UPI mandate request for the IPO of Metro Brands?

You can easily accept a UPI mandate request for the Metro Brands IPO through a UPI app. Nevertheless, to study the specifics of this procedure and allied steps, click here.

What is the process of creating a UPI ID through the BHIM app?

To create a UPI ID using the BHIM app, you can refer to the steps mentioned below –
Step 1: Download and install the BHIM UPI app on your mobile phone
Step 2: Review and authenticate your mobile number and create a PIN or password needed to use this app
Step 3: Choose a bank from the list of financial institutions provided on NPCI’s list of approved service providers
Step 4: BHIM UPI App will then fetch your bank account details without any manual input
Step 5: If you have multiple bank accounts, choose one that you want to register and link with this app
Step 6: Create a personal UPI ID for security reasons
Afterwards, you can check your UPI ID in the ‘Profile’ section of this app.

Is it possible to apply for the IPO of Metro Brands through a current account?

No, you cannot apply for the public offering of Metro Brands or any other IPO through a current account. Since financial institutions do not approve any bids made via such accounts, you can instead use a savings account for this purpose. Additionally, you can talk to the representatives of your respective banks for more information.

Is it possible to apply for the initial public offering of Metro Brands through my minor daughter’s account?

No, it is not possible to apply for the public issue of Metro Brands or any other company through your minor daughter’s account via the Angel One platform. Conversely, a minor can bid for IPOs using the ASBA process.

Is it possible to apply for the IPO of Metro Brands through a HUF or Hindu Undivided Family account?

No, it is not possible to apply for the IPO of Metro Brands through a Hindu Undivided Family account. However, if you apply for any IPO through the ASBA process, in that case, you can utilise this account.

Can NRIs use the Angel One app to apply for this public issue of Metro Brands?

No, NRIs cannot use the Angel One app to submit bids for this Metro Brands IPO. But, they can always take the assistance of the ASBA (Application Supported by Blocked Amount) process offered by their respective banks to apply for any public issue.

What is the nominal time needed to get a UPI mandate request following the submission of an IPO application for the public issue of Metro Brands?

The minimum time needed to get a UPI mandate request following the submission of an application for this IPO of Metro Brands is 10 to 15 minutes. However, this process can get postponed at times owing to various reasons.

I have failed to submit bids for this public issue of Metro Brands using my existing UPI handle. What is the reason?

The reason for your failure to submit a bid for the IPO of Metro Brands through your current UPI ID is due to the fact that it does not have NPCI’s approval. In such cases, you can generate a new one from the list of service providers who have NPCI’s approval to extend UPI service. You can simply register with any one of them and complete this process.

What is the minimum required time block or unblock the funds of an IPO subscription?

Once you approve a UPI mandate request, banks will freeze the funds necessary for an initial public offering. Nonetheless, these funds will be unblocked only if you fail to get an allotment or if the UPI mandate expires. However, if your funds are not unblocked even after that, get in touch with your bank for further clarification.

Even after accepting the mandate request of Metro Brands’ public issue, its status on the Angel One App is displaying impending. What can be the reason for that?

If you see a pending status against your IPO mandate request of the public issue of Metro Brands or any other company, you cannot do anything. The reason is, Angel One App is not capable of showing real-time updates of UPI Mandate requests. But, if you have sanctioned it, it will then display its actual position on the order book of that IPO after some time.

Are there any added charges required to apply for this public issue of Metro Brands via the Angel One platform?

No, there are no add-on charges necessary to apply for this public issue of Metro Brands using the Angel One platform.

Can I submit more than one bid for a public issue using a single PAN?

No, you cannot submit more than one bid for a public issue via a single PAN. The reason is, in such cases, IPO applications are rejected as per the current guidelines from the Indian Government. Therefore, you will not manage to secure an allotment for this public issue of Metro Brands or any other firm.

What are the probable reasons behind the dismissal of my IPO application for Metro Brands?

Plausible reasons for your Metro Brands IPO application getting rejected can be –
● Failing to assure that your UPI ID, Demat account, and bank account are linked with the same PAN
● Providing a wrong UPI PIN during mandate approval
For instance, in case you use your Demat account to bid for this public issue and use your friend’s UPI ID to make payment. In that case, your application can get rejected –
● If your PAN and your friend’s UPI ID are not linked
● If your Demat account is not connected with your friend’s bank account

What is a cut-off price? Can I apply for a public issue at this price?

The cut-off price is a price point at which the shares of Metro Brands or other companies will be listed on the stock market. This is a pre-set price and is principally set during the allotment stage. Moreover, if you bid at this price, it implies that you are willing to bid for Metro Brands’ IPO at this price point. Also, applying at this cut-off price improves your chances of securing an allotment.

I have submitted the final application for this initial public offering of Metro Brands; but, the funds are not debited. So, what is the reason?

The reason for the funds not being debited is that banks do not release funds of an IPO subscription right after you submit a bid. Instead, they will freeze this amount for the time being, and once you receive the allotment, they will debit it eventually. On the other hand, if you fail to get an allotment or your UPI mandate expires, banks will release this amount.

Can I change my subscription bid for the public issue of Metro Brands after finalising the application?

Yes, it is possible to change your subscription bid for the initial public offering of Metro Brands even after finalising the application. Here, you have the provision to alter the UPI Id and the lot size after submitting your bid. Nevertheless, a point to keep in mind here is that, if you make any modifications after approving your UPI mandate request, it will be considered as a new bid. In such cases, banks will block the required amount once again and alongside your current bid amount. Also, you will get a new UPI mandate request for this bid, like before.

How to get a guaranteed allotment for this public issue of Metro Brands?

It is not possible to ensure allotment for any IPO, irrespective of the public issue you decide to apply for. In case of an oversubscription, which is a regular affair, the allocation of shares is completed via a lottery system. So, it is not possible to provide any certainty in this regard.
A point to remember here is that the Angel One platform only allows you to apply for an IPO, and it does not offer any guarantee regarding the allotment.
Nonetheless, you can still boost up your chances by following some tips –
● Applying at the cut-off price
● Using a Demat Account linked with your PAN
● Confirm that your bank account and UPI ID are linked through a single PAN, and failing to keep that can lead to rejection. For instance, person X has applied for the Metro Brands IPO via his Demat Account but person Y’s UPI ID. In such cases, the application can get rejected due to –
● Person Y’s UPI ID is not linked with X’s PAN
● Person X’s Demat account is not linked with Y’s bank account

I cannot find my UPI ID in the dropdown menu of the Angel One App when submitting bids for this public issue of Metro Brands. What can be the reason?

In case you cannot locate your UPI ID under the dropdown menu of the Angel One App, it means your current UPI ID does not have NPCI’s approval. In such a case, you can just create a different one with any of the UPI handles allowed and declared under the NPCI List.

How to locate a UPI ID in the Angel One mobile app?

You can locate a UPI ID in the ‘profile’ section of the Angel One app.

Can I apply for this IPO of Metro Brands without using a bank account that is not linked with the Angel One app?

Yes, you can apply for the public issue Metro Brands via a bank account, which is not connected with the Angel One app. In such cases, this bank account must be in your name.

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