Metro Brands IPO
Metro Brands Limited (METROBRAND) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 22 December 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +2.2% (likely range -10% to +12%), day's high +2.8%, chance of a gain 51%. Actual: -12.6% at the open, +1.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 54,70,020 | 4,64,44,800 | 8.49x | |
| NII (HNI) total | 41,02,515 | 1,23,84,780 | 3.02x | |
| Retail | 95,72,535 | 1,07,82,900 | 1.13x | |
| Total | 1,91,45,070 | 6,96,12,480 | 3.64x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 12% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Metro Brands's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
| Laurus LabsDec 2016 | 10.5x | 3.58x | 1.67x | 4.57x | ₹1,334 Cr | +14.5% | +16.4% |
| Vijaya Diagnostic CentreSep 2021 | 13.1x | 1.32x | 1.09x | 4.54x | ₹1,895 Cr | +1.7% | +22.0% |
| Sheela FoamDec 2016 | 14.5x | 3.35x | 0.44x | 5.09x | ₹548 Cr | +17.8% | +41.4% |
| Krishna Institute of Medical SciencesJun 2021 | 5.26x | 1.89x | 2.89x | 3.86x | ₹2,145 Cr | +22.3% | +28.4% |
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Ambit | 13 | +24.3% | 69% |
| DAM Capital Advisors | 37 | +13.6% | 59% |
| Equirus Capital | 34 | +21.3% | 74% |
| ICICI Securities Limited Motilal Oswal Investment Advisors | 3 | +5.2% | 33% |
Offer documents (NSE)
Frequently asked
What is the Metro Brands IPO price band and lot size? ₹485–500 per share, with a lot of 30 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 3.64x overall: QIB 8.49x, NII 3.02x, retail 1.13x.
How did it list? It opened at ₹437, -12.6% against the issue price of ₹500, and closed its first day -1.3%.
