Metro Brands IPO: Footwear retailer files draft papers for Rs 250 cr public issue

Footwear retailer Metro Brands Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.

The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale of 21,900,100 equity shares by selling shareholders, according to the draft red herring prospectus (DRHP).

The company will consider a pre-IPO placement aggregating up to Rs 10 crore. If such placement is completed, the fresh issue size will be reduced.

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