 "initial public offerings")
The initial public offer (IPO) of branded footwear retailer Metro Brands was subscribed 3.6 times on Tuesday, the concluding day of the issue. The institutional investor portion was subscribed 8.5 times, the wealthy investor portion by 3.02 times, and retail investors by 1.13 times.
The company had priced its IPO between Rs 485 and Rs 500 per share. The Rs 1,367-crore IPO consisted of a fresh issue of Rs 295 crore and an offer for sale of Rs 1,072 crore. The company plans to utilise the funds raised through the fresh issue for opening new stores under its Metro, Mochi, Walkway
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