Footwear retailer Metro Brands subscribed 27% on Day 1 of issue

The initial public offer of Metro Brands was subscribed 27 per cent on Friday, the first day of the issue. The company priced its IPO between Rs 485 and Rs 500 per share. The Rs 1,367-crore IPO comprises a fresh issue of Rs 295 crore and an offer for sale of Rs 1,072 crore.

Axis Capital, Ambit, DAM Capital, Equirus, ICICI Securities and Motilal Oswal Financial Services are the bankers to the issue.