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Metro Brands IPO subscribed 11% on first day of bidding

The public issue of footwear retail company Metro Brands has been subscribed 11 percent, so far, garnering bids for 21.89 lakh equity shares against the IPO size of 1.91 crore equity shares on December 10.

The company is planning to raise Rs 1,367.5 crore via the initial public offering that consists of a fresh issue of Rs 295 crore and an offer for sale of 2,14,50,100 equity shares by promoters.

The portion set aside for retail investors was subscribed 23 percent.

Qualified institutional investors and non-institutional investors are yet to put in their bids for the offer.