Rakesh Jhunjhhunwala-Backed Storkweed Metro Metro Marks, on December 7, a price band was solved for its single-year public offering RS 485-500 per capital share. In the higher price band, the offer will get the company RS 1.367.5 Crore.
The offer includes a new issue of RS 295 Crore and an offer for the sale of RS 1,072.5 Crore by promoters that will download 2.14 capital shares crore. The problem will be open for subscription on December 10 to 14.
Offers can be made for a minimum of 30 capital shares and in multiples of 30 subsequent actions. Therefore, retail investors can make a minimum RS 15,000 investment for a single batch and its maximum investment would be RS 1.95 Lakh by 13 lots.
The company will use the net income of the new problem to open new stores under the Metro, Mochi, Walkway and Crocs brands; and general corporate purposes.
Half of the offer has been reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
The subway brands sells their footwear under their own Metro brands, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain brands of third parties, such as Crocs, Skechers, Clarks, Flowersheim and Fitflop. It also offers accessories such as belts, bags, socks, masks and wallets, in stores.
The company operated 598 stores in 136 cities scattered in 30 states and trade union territories in India, as of September 2021.
The Company recorded a profit from RS 64.62 Crore for FY21, which abruptly declined from RS 160.57 million rupees in the FY20 due to blocks with LED Covid. Revenues also decreased to RS 800.06 million rupees of RS 1,285.16 Crore in the same period.
The company registered a profit from RS 43.07 crore in the period of six months ended September 2021 against a loss of RS 43.11 million rupees in the corresponding period a year ago. Revenues increased RS 456 million rupees from RS 176.54 Crore during the same period.
The book that runs leading managers to supply are axis capital, habit, capital advisors, equilibri capital, ICICI values and investment advisers from Oswal Motilal.