Metro Brands’ IPO: Here is how to check the allotment status

• Footwear retailer Metro Brands IPO intended to raise ₹1,367 crore through the IPO.
• The IPO has been subscribed 3.64 times during the three of IPO between December 10 to December 14.
• Shares of the company are demanding a premium of ₹35 in the grey market today, indicating tepid listing gains.

If you have applied for Metro Brands initial public offering (IPO), note that the company is likely to announce allotment for the issue today, December 17. The issue was open for subscription between December 10 to December 14.

In the three days of IPO bidding process, the issue has been subscribed 3.64 times with great demand from qualified investors i.e., 49 times.

Metro Brands, which is one of the largest Indian footwear specialty retailers in India, is backed by marquee investor Rakesh Jhunjhunwala.

Started in 1955 as a footwear specialty retailer in India, Metro Brands now caters to footwear needs of men, women, unisex and kids.

The company was performing well until COVID-19 hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic.

Here is how to Metro Brands IPO allotment status on stock exchange website:

• Go to the BSE website or NSE website here.
• On BSE, Select 'Equity' and then from the dropdown, select ‘Metro Brands’.
• Now, enter your application number and PAN.
• Click on 'Search'.
• Please note the details will only be available once the shares are allotted.

You can also visit the registrar website (Link Intime India) to check your application status.

• Visit the registrar's website here.
• Click on 'Select company' and click on ‘Metro Brands’.
• Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
• Enter the captcha and click ’submit’.

Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you.

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