Rakesh Jhunjhunwala backed Metro Brands is entering IPO on December 10, 2021. The company has fixed a price band of ₹485 to ₹500 per equity share of face value of ₹5 each. The IPO will conclude on December 14, 2021.

The journey of Metro Brand

Incorporated in 1977, their first store was in Mumbai, the brand then evolved as a one-stop shop for all footwear. With having a wide range of footwares and has now grown to 586 stores across 134 cities in all States and union territories in India.

The company was incorporated as Metro Shoes Private Ltd in January 1977 at Mumbai. The name was then changed to Metro Shoes Ltd in 1992, and later the company was changed to a private company.

With an experience of over seven decades, the brand was started by Abdul Malik Tejani with a single store at Mumbai. Tejani took over the business and decided to take the operations of the brand from a single store to a chain of four stores in the year 1986.

The footwear company also operates Metro, Mochi and Walkway branded, multi brand outlets (MBOs) and Crocs branded, exclusive brand outlets (EBOs).

The operations

The retail operations are carried out through stores and distributors, and through online channels. The speciality retailer also follows the company operated model of retailing through multi brand outlets and exclusive brand outlets. The brand also has websites and social media platforms.

Due to the Covid-19 and the pandemic, the footwear retailer has also faced loss, the IPO bound company’s net profit in FY21 stood at ₹64.6 crore against ₹160.6 crore in FY20, in FY19 they stood at ₹152.7 crore.

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