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IPO Bound Metro Brands Raises Rs 410 Crore From Anchor Investors

Metro Brand

Metro Brands Ltd, a footwear retailer backed by ace investor Rakesh Jhunjhunwala, announced on Thursday that it has raised a little over Rs 410 crore from anchor investors ahead of its IPO on Friday.

According to a BSE circular, the company has allotted 82.05 lakh equity shares to anchor investors at Rs 500 each, bringing the total transaction size to Rs 410.25 crore.

Among the anchor investors are Societe Generale, Goldman Sachs, Abu Dhabi Investment Authority, HDFC Life Insurance Company, SBI Life Insurance Co Ltd, Tata AIA Life Insurance Co Ltd, HDFC Mutual Fund, Aditya Birla Sun Life MF, Sundaram MF, and ICICI Prudential MF.

The initial share sale consists of a fresh issuance of equity shares for Rs 295 crore and a promoter and other shareholder offer to sell 2.14 crore equity shares.

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