Metro Brands Limited
Category- Retail Stores.
Headquarters- Mumbai, Maharashtra.
Area served- India.
Key people- Rafique Malik, Farah Malik.
Products- Footwears, Wallets, Socks.
Revenue- ₹800 crores (March 21).
Number of employees- 300 plus
Metro Shoes is India’s leading footwear company. It was founded in 1995 by Malik Tejani and is headquartered in Mumbai, Maharashtra. The company has operated as a multi-brand footwear retail chain in India. Metro shoes provide various types of footwear for men, women, kids including formal, outdoor, and ethical footwear.
Metro shoes were incorporated in 1986 and are operational in the footwear industry with a single story on Grant Road in Mumbai. The company provides footwear and other accessories like bags, wallets, masks, etc. Metro Brand is inspired by the popular metro cinema in Mumbai.
In 2008, the Metro brands launched the first in-house shoe brand MOCHI and in FY 2008 metro brand hit 50 retail stores with Rs 1 billion gross revenue.
2209- The company has launched its second brand Walkway and after that metro also launched its e-commerce platforms with 100 retail stores.
2015- Metro brands made a tie-up with international brands like Crocs, Skechers.
2017- The Brands has established its presence in 26 states and a Rs 10 billion gross revenue.
2019- Metro Shoes launched the first Da Vinci footwear stores for men and women.
Currently, Metro has operated 596 stores across the 136 plus cities spread across 30 states and 8 union territories in India.
Products and Services
Metro brands are one of the largest footwear brands in the country. The company offers a wide range of products for entire family members such as men, women, unisex, and kids. Metro products portfolio contained some well-known brands including metro, walkway, mochi, J. Fontini, and da Vinci as well as have third party tie-up brands such as Clarks, Florsheim, Crocs, Sketchers, and Fitflop. The company offers accessories such as socks, wallets, masks, backpacks, belts, etc in their brand stores. Metro Shoes has a countrywide network of retail stores at more than 200 plus locations across 100 plus cities in India.
Metro brands limited has plans to raise Rs 1367. 51 CV from public issues. The IPO comprises a fresh issue worth Rs 295 Cr and an offer for sale worth is Rs 1072 Cr. The company IPO opened on 10 Dec 2021 and the close date is 14 Dec 2021. The allotment may be finalized on 17 Dec 2021. Metro shoe shares traded at a Rs 22 premium in the grey market over the issue price band Rs 500.
- One of the leading footwear retailers.
- Wide range of products and brand portfolio,
- Presence across multi-channel and format stores.
- Strong track record of revenue and profitability.
- Strong promoters support ( Rakesh Jhunjhunwala).
- The company has an experienced management team.
- The public issue worth ₹1,367.51 crores has been subscribed 27 percent. As per the latest Metro Brands IPO subscription status, the public issue has been subscribed 52 percent in the retail category and 2 percent in the NII category ( mint ).
- Metro Brands IPO grey market premium has been oscillating around ₹20 to ₹25 for a week.
- The metro brand had a disappointment. to investors as the stock was listed at a discount price of 12.80 percent to the issues prices. the stock opened at Rs 436 on the BSE and Rs 437 on the NSE against the final offer price of Rs 500 per share.
- The stock zoomed 19.99 percent to its upper circuit limit of Rs 609.45 on the BSE. The stock zoomed 19.99 percent to its upper circuit limit of Rs 609.45 on the BSE.
Address- Metro Brands Ltd.
Chief Operating Officer
Area Served- India