Metro brands is one of the largest indian footwear specialty retailers, and is among the aspirational indian brands in the footwear category. it has a wide range of branded products. The company retails footwear under its own brands of Metro, Mochi, Walkway, Da vinchi, and J. Fontini, as well as certain third party brands such as Crocs, skechers, clarks, Florsheim, and Fitflop, which compliments its in house brands. As of sep, 30 2021, the company has around 598 stores across 136 cities in india.
Table of content(toc)
Company Strengths and Risks
Table of Content
About the Company
Metro brands limited was originally incorporated as ' Metro Shoes private limited ' ,a private limited company under the companies act, 1956 on january 19, 1977, at Mumbai Maharastra. The name of the company was subsequently changed to '' Metro Shoes Limited '' on may 18, 1992 upon conversion into a deemed public company. Thereafter company was converted in private limited company and the name was changed to '' Metro Shoes Private Limited '' with effect from Octomber 16, 2002. Subsequently, the name of company was again changed to metro shoes limited pursuant to special resolution passed by the shareholders of the company on march 21, 2007. A fresh certificate of incorporation consequent to change of name was issued by the RoC on may 14, 2007. Thereafter, the company name of the company was further changed to ''Metro Brands Limited''.
Promoters of the company
Rafique A. Malik
Farah Malik Bhanji
Alisha Rafique Malik
Rafique Malik Family Trust
Aziza Malik Family Trust
About the Promoters
Rafique A. Malik - Rafique age is 70 years is the chairman of the company.
Farah malik bhanji - Farah , aged 44 years , is the managing director of the company.
Company Contact details
Registered and corporate office - 401, zillion 4th floor , LBS marg & CST road junction, kurla (west) Mumbai 400 070 Maharastra india
Tel: +91 22 2654 7700
Contact person - Tarannum Yasinhusein Bhanpurwala company secretory and compliance officer.
E-mail : Investor.relation@metrobrands.com
Website : www.metrobrands.com
Competitors of the company
1. Bata india limited
2. Liberty shoe limited
3. Khadim india limited
Company Strengths and Risks
Strengths
1. One of the largest pan india footwear retailers with a special brand appeal among aspirational consumer segments in the fast growing footwear retail industry.
2. Wide range of brands and products catering to all occasions across age groups and market segments resulting in strong customer loyalty.
3. Efficient operating model through deep vendor engagement.
4. Asset-light business with an efficient operating model leading to sustained profitable growth.
5. Presence across multiple formats and channels.
6. Plateform of choice third party brands looking to expand in india.
7. Strong promoter background and an experienced and entrepreneurial management team with a proven track record and high degree employee ownership.
Risks
1. Cumulative cost of the total number of stores opened by the company across regions may not be indicative of the market capitalisation of the company.
2. Inability to identify customer demand accurately and maintain an optimal level of inventory in its stores.
3. Inability to promtly identify and respond to changing customer preferences or evolving trends.
4. Any deteroiration in public perception of its brands.
5. Failure to renew the leases or manage lease costs of premises of its stores and warehouse.
6. Dependency on the third party for manufacturing the products that the company sells.
7. Failure to obtain, renew, or maintain the required regulatory and statutory permits.
Company Financials
Revenue :
2019 - 1237 cr.
2020 - 1311 cr.
2021 - 879 cr.
Total Assets :
2019 - 1322 cr.
2020 - 1617 cr.
2021 - 1659 cr.
Profits :
2019 - 153 cr.
2020 - 161 cr.
2021 - 64.61 cr.
IPO Details
Open date : 10 December 2021
Close Date : 14 December 2021
Face value : 5 Rs.
Listing plateform : NSE & BSE
Price bands : Rs. 485 - 500
Minimum order Quantity : 30 shares
Lot size : 30
Allotement Dates : 17 December 2021
Initiation of funds : 20 December 2021
Listing Date : 22 December 2021
Issue Size : cr.
Gmp : Rs. 17 as on 11 decemeber
Max. Lot : 13
Minimum investment - 14550 Rs
Maximum Statement - 1,95,000 Rs
Pre issue share holding - 84.02%
Post issue share holding - 74.27%
Offer for sale - 21,450,100 equity shares
Issue size - 1367.5 cr.
Minimum Lot : 1
Maximum lot - 13
Subscription Status
Retail individual investor : 1.13x
Non- institutional investor : 3.02x
Qualified institutional buyer : 8.49x
Lead manager and Registrar
Registrar
Link Intime India Private Limited (registrar)
C 101, 247 Park
L.B.S. Marg
Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: ceinfo@linkintime.co.in
Investor Grievance E-mail:
ceinfo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number:
INR000004058
Lead manager
1. DAM Capital Advisors Limited
(Formerly IDFC Securities Limited)
One BKC, Tower C, 15th Floor, Unit
No.1511
Bandra Kurla Complex, Bandra (East)
Mumbai 400 051
Maharashtra, India
Tel: +91 22 4202 2500
E-mail: ceisl.ipo@damcapital.in
Investor Grievance ID:
complaint@damcapital.in
Website: www.damcapital.in
Contact Person: Chandresh Sharma
SEBI Registration Number:
MB/INM000011336
2. Ambit privat limited
Ambit house, 449 senapati marg, lower parel, Mumbai Maharastra India
Tel : +91 22 6623 3000
E-mail - metrobrands.ipo@ambit.co
Contact person - Nikhil bhiwapurkar
Sebi registration number - INM000010585
3. Axis Capital Limited
1st floor, Axis House
C-2 Wadia International Centre
P.B. Marg, Worli
Mumbai 400 025
Maharashtra, India
Tel: +91 22 4325 2183
E-mail: mapmyindia@axiscap.in
Investor Grievance E-mail:
complaints@axiscap.in
Website: www.axiscapital.co.in
Contact Person: Ankit Bhatia
SEBI Registration Number:
INM000012029
4. Eqirus capital private limited
12th floor C wing marathon futurex, NM Joshi Marg , lower parel mumbai 400013
Maharastra India
Tel: +91 22 4332 0700
E-mail: metrobrands.ipo@equirus.com
Investor Grievance E-mail: InvestorGrievance@equirus.com
Website: www.eqirus.com
Contact Person: Mrinmayee Dethe
SEBI Registration Number: INM000011286
5. ICICI securities limited
ICICI centre , HT parekh marg churchgate mumbai 400020 Maharastra India
Tel : +91 22 2288 2460
E-mail : metro.ipo@icicisecurities.com
Website : www.icicisecurities.com
Investor Grievance email : customercare@icicisecurities.com
Sebi registration no. : INM000011179
6. Motilal oswal investment advisors limited
Motilal oswal tower, Rahimtullah sayani road, opposite parel St depot , prabhadevi , mumbai Maharastra 400025 India.
Tel: +91 22 7193 4380
E-mail : metro.ipo@motilaloswal.com
Website : www.motolaloswalgroup.com
Investor greivance email : moiaplredressal@motilaloswal.com
Contact person : Subodh Malaya / ritu sharma
Sebi registration no. : INM000011005
Listing Price
Metro brands ipo listed in Rs. 437 per share with 12.6% loss.