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<ul><li>Skechers buys 49% stake in Indian retail joint venture with Future Group.</li><li>Amazon had reportedly signed a term sheet last year for a proposed stake purchase in Kishore Biyani's venture.</li><li>Amazon and Future Group had put talks on hold as new e-commerce rules kicked in February 2019.</li></ul> Amazon was reportedly in talks to buy stake in one of India's leading retail chains, the Future Group. Tripped by the new e-commerce rules brought in by the Indian government, the two companies put those negotiations on hold. However, within a couple of weeks, Future Group's Kishore Biyani has found another keen buyer, the American footwear brand, Skechers. Biyani <a href="https://economictimes.indiatimes.com/industry/services/retail/skechers-buys-future-groups-49-in-joint-venture-for-independent-run/articleshow/67968514.cms" data-type="tilCustomLink" target="_blank">reportedly</a> sold his 49% stake in the existing joint venture to Skechers for a sum of ₹5.8 billion. Skechers now <a href="https://entrackr.com/2019/02/skechers-exit-future-group/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts" data-type="tilCustomLink" target="_blank">plans</a> to open 80-100 more stores, of which the company will directly own 20 stores. Amazon had <a href="https://entrackr.com/2018/11/amazon-acquire-9-5-stake-future-retail/" target="_blank">signed a term sheet </a> to buy anywhere between 10% and 15% stake in Future Group for up to $700 million in August 2018. In September last year, Amazon along with PE firm Samara Capital signed a deal to acquire food and grocery retail chain More. Less than a year before that, the Jeff Bezos-led firm had bought 5% stake in Shoppers Stop for $26.35 million. Physical retailers are the immediate benefactors India's new e-commerce rules. The new norms are expected to boost sales for brick-and-mortar stores by taking away the discounts available to consumers online. CRISIL has estimated that it could increase revenue for offline retailers by ₹100 billion to ₹120 billion by 2020. The promise of India's retail market is no secret to other companies either. “Few markets match the potential for growth like India does, which is why we entered the market initially, and recently decided to buy the minority stake in our joint venture,” said David Weinberg, chief operating officer of Skechers. For Amazon, the challenges in India are only rising. The company had to add new sellers and delist about 500,000 products from its sellers <keyword id="2682122" type="PERSON" weightage="20" keywordseo="Cloudtail">Cloudtail</keyword>, Appario and Shoppers Stop as the govt prohibited online marketplaces from selling products through companies in which they own stakes. As Amazon went back to the drawing board, Skechers swept away the deal. SEE ALSO: <ul class="breadcrumb clearfix"><li class="youhere"><a>Mukesh Ambani May Be The Surprise Winner From India's New Rules Hurting Amazon And Walmart</a></li></ul>

A US footwear brand has bagged a deal in India that Amazon wanted

<keyword id="1970786" type="UNKNOWN" weightage="100" keywordseo="Coupondunia">CouponDunia</keyword> intends to fill in the largest remaining void in the world of offline retailers and brands by launching in-store shopping <keyword id="264822" type="UNKNOWN" weightage="100" keywordseo="coupons">coupons</keyword>. Users will be able to get the same type of great online shopping discounts but instead for use at their favourite offline retailers and brands within categories like apparel, footwear, accessories, home decor, baby, electronics, jewellery, gaming and handbags. 
 
 
 
Are such launches predictions of huge growth of the coupon market in the coming few years? 
 
Let us have a look at some market numbers first. 
 
India is at the cusp of witnessing the fastest growing e-commerce market in the entire Asia Pacific region. As per Forrester report, with a compound annual growth rate expected to be at 57 per cent between 2012 and 2016, the coupon sector is set to exhibit maximum growth. 
 <keyword id="146337" type="CITY" weightage="40" keywordseo="comScore">ComScore</keyword> report revealed that in the year 2013, mobile internet use resulted in a 14.2 per cent growth of traffic in the Indian online retail market. With more and more coupon websites and e-stores focusing on taking advantage of the mobile platforms, shopping online is not only more affordable but also a lot more convenient. 
 
The coupon business is 13.5 per cent of the total e-commerce audience in India, growing at the rate of 62.9 per cent with 7.6 million unique users a month. 
 
In 2011, 1 in every 10 internet users accessed coupons sites, but in 2013 this number had grown to 5 out of 6. 
 
95 per cent buyers search for deals online and 74 per cent view the coupons available at couponing portals. 
 
 
 All these numbers clearly reveal the healthy status of the <keyword id="2918879" type="UNKNOWN" weightage="100" keywordseo="coupon-market-in-India">coupon market in India</keyword>. 
 “In 2010, there was nothing like coupons for online shopping in India. It was something that heavily built up slowly over time. Consumers tried coupons and liked it. Merchants saw results from coupons and started offering more coupons which gave users even more coupon choices. It always keeps repeating. Restaurant coupons are a huge success now. A few years ago, there was no such thing as restaurant coupons,” said <keyword id="2266119" type="UNKNOWN" weightage="100" keywordseo="Sameer-Parwani">Sameer Parwani</keyword>, CEO of CouponDunia. 
 
 
 
So what is pulling it behind? 
 
While addressing such questions the very first thought that comes to our mind is the Snapdeal case. Three years ago Snapdeal tried to enter the coupon market before it decided that Indian market was not correct for coupons. This is the right place to clarify all skepticisms surrounding it. 
 
“Snapdeal wanted a bigger credential market. The coupon market was never unattractive. They chose to move to a bigger market. Snapdeal right now is $8 billion Company and coupon market in India will not be $8 billion Market Company. Coupon was never a bad market; it is just that e-commerce was a bigger market,” said Sameer. 
 
He further added that three years ago in the digital age, the smaretphones were not advanced like today by which one can do almost anything and everything. 
 
“Just because their venture lapsed, it does not mean coupons are not gaining market,” he said. 
 
The coupons market is a successful one in the West. Almost everyone give coupons and it is a great strategy for attracting the consumers mind share. 
 
“In India it is not doing very well because you need a player who can distribute these coupons on a wide basis. We have this audience who use coupons in the online world and restaurant world. Now we are targeting retailers and brands,” said Sameer. 
 
 
 
What is the company, that rules online coupon world in India, doing to up the game? 
 
CouponDunia is introducing hyper local coupons that will help people save money via offline retail therapy. 
 
With the launch of offline retail the primary focus is to close gaps in ways consumers can save. The monetization is not the foremost goal. However the business model is to take commissions on purchases made using our coupon codes. 
 
 
 
The discounts go from anywhere from 5% off to about 50% off. Or in some cases it's a flat amount say Rs. 200 to Rs. 2000 or Rs. 3000. It all depends on the brand and what they are willing to give. Some of their partners include Shoppers Stop, Calvin Klein, Marks &amp; Spencers and Skechers. 
 
 
 
With a goal of being able to help consumers save money on anything and everything they buy, as a company they are investing heavily into opening new categories. 
 
“After the launch of these in-store coupons we will also be launching grocery coupons next month,” said Sameer. Through this they aim to win the innovation challenge that affects this sector heavily. 
 
He added that as a company they earned more than Rs. 20 crores revenue last year and this year they are looking to double that this year. For that they are all geared up too. 
 
 
 
What drives the market? 
 
Sameer said it is mainly the customer’s trust and mindset. 
 
“If you know that Shoppers Stop is giving an additional discount, you will go to Shoppers Stop and not Lifestyle,” he said and further added,” If there is a way to save money without much effort, people are willing to take that up and make it popular. We have seen that happening in online shopping coupon, restaurant coupon and in the West and believe this will work too.” 
 
CouponDunia now offers coupons from over 5000 restaurants across 6 cities. It has reached a target of 2 million downloads on the mobile app and do about 5 million sessions on their mobile app a month and have an additional 4 million visits to the website a month. 
 
It speaks out loudly that consumers want coupons. 
 
(image credits: CouponDunia)

What drives the coupon market in India?

<ul><li>Footwear retailer <keyword id="9095636" type="General" weightage="20" keywordseo="metro-brands" source="Orion">Metro Brands</keyword> has opened its IPO today and will close on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹70 in the grey market while the price band is at ₹485 to ₹500. </li></ul>Marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India, has opened its initial public offering (IPO) today, December 10. Started in 1955 as a footwear specialty retailer in India, Metro Brands now caters to footwear needs of men, women, unisex and kids. It operates 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Along with physical stores, it sells products through websites, various online marketplaces, as well as, social media platforms. The IPO consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters. The company will use the proceeds from the fresh issue to open new stores under brands such as Metro, Mochi, Walkway and Crocs and remaining funds will be used for general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹485 to ₹500 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">GMP </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">70 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 10 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 14 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 17 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 20 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 22 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30 </td></tr></tbody></table> <div type="image" title="metro brand rev" height="900" width="1200" msid="88194907" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ce-info-systems-ipo-analysts-see-as-long-term-bet-on-being-pioneer-in-digital-maps/articleshow/88180960.cms">Analysts see MapmyIndia as a long term bet on being a pioneer in digital maps</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/byjus-has-acquired-yet-another-startup-this-time-from-austria/articleshow/88177950.cms">Byju's has acquired yet another startup, this time from Austria</a>

Metro Brands’ IPO opens today — here are all the important details you need to know

<ul><li>Today is the third day to subscribe to footwear retailer <keyword id="6356415" type="General" weightage="20" keywordseo="metro" source="Orion">Metro</keyword> Brands.</li><li>The issue has received bidding for 50% of the shares up for sale.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore.</li></ul>The initial public offering (IPO) of Rakesh Jhunjhunwala-backed Metro Brands has been subscribed 50% on the first two days of issue. The company’s shares will open for subscription today, December 14, for the last time. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription (Times) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers (QIB) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.16 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non Institutional Investors (NII) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.17 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.87 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.52 </td></tr></tbody></table> Metro Brand — which is one of the largest Indian footwear specialty retailers in India — has set the price band of its shares at ₹485 to ₹500. The lot size has been set at 30 shares, costing ₹15,000 at upper price issue. Retail investors can buy upto 390 shares, 13 lots, for ₹1.95 lakh. The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at ₹34 on December 13. The company intends to raise ₹1,367 crore through this public issue, nearly ₹5 will be raised through fresh issue and the remaining ₹1,072 crore will be raised through offer for sale. The allotment status of Metro Brands’ IPO will be<a href="https://www.businessinsider.in/stock-market/news/metro-brands-ipo-opens-today-and-here-are-all-the-important-details-you-need-to-know/articleshow/88194908.cms"> announced on December 17</a> and the company is likely to list on the stock exchange on December 22. Metro Brands started in 1955 as a footwear specialty retailer in India. It operates 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms" data-type="tilCustomLink">After giving up on 90-minute delivery five years ago due to lack of profitability, Grofers is now chasing 10-minute delivery</a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a>

Today is the last day to subscribe to Metro Brands’ IPO — issue subscribed 50%

<ul><li>Footwear retailer <keyword id="12783358" type="General" weightage="20" keywordseo="metro-brands-ipo" source="Orion">Metro Brands’ IPO</keyword> was open for subscription between December 10 and December 14.</li><li>The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times.</li><li>Shares of the company may witness a poor listing due to weak grey market premium and volatile market conditions.</li></ul>Marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India, is set to get listed on exchanges today, December 22. Shares of the company may open at a discounted price as indicated by weak grey market price and volatile market conditions. The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times. “We are seeing a change in IPO [initial public offering] sentiment amid a slight decline in the market, and the last two debutants witnessed profit bookings post-listing, as well we are seeing a decline in the GMP [grey market price] for upcoming IPOs. We may see a discount listing of Metro Brands given that its GMP trades at a discount of 10-15% currently,” said Aayush Agrawal, senior analyst at Swastika Investmart. Analysts at Angel One also expect a weak listing for Metro Brand’s stock, but they hold a positive stance for the long term investment. “On the listing day, we are expecting a slightly weak listing due to the company already commanding higher valuation and fear of [the] new COVID variant omicron (will increase the possibility of lockdown). However, we are positive on stock for the long term on the back of asset light business, strong brands and wide range of products,” said Amarjeet Maurya, assistant vice president – mid caps at Angel One. Also, the company’s financial performance in FY21 was not very great due to COVID-19 restrictions in the country that affected the entire footwear retailing segment. Its revenue from operations declined by 37.75% in FY21. In the meantime, it permanently closed 24 stores, due to significant decline in footfalls on account of COVID-19. <div type="image" title="metro brand rev" height="900" width="1200" msid="88411590" hostid="261"></div> While the fundamentals of the company remain good with close-to-zero debt in its books and generation of profits, the new COVID-19 variant may adversely affect its plan to grow its store sales in the near term. As of March 31, 2021, Metro Brands operates 586 Stores in 134 cities across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a>

Metro Brands’ IPO may open on a weak note today, GMP at 10-15% discount

<ul><li>Today is the second day to subscribe to footwear retailer Metro Brands, which will close its IPO on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹25 in the grey market while the price band is at ₹485 to ₹500.</li></ul>Today, December 13, is the second day to subscribe to marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India. The initial public offering (IPO) has been subscribed just 27% on the first day of the bidding process. Meanwhile, the grey market premium of the company’s shares has been falling since the last couple of days from ₹80 to now at ₹25 per share. The company was performing well <a href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">until COVID-19 </a>hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic. However, most analysts suggest subscribing to the issue because of the growth opportunities in the footwear segment along with the company’s strong financial track record. <div type="image" title="metro cagr" height="900" width="1200" msid="88253021" hostid="261"></div> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody><tbody></tbody></table> Analysts at Hem Securities recommend subscribing to the issue because of the experienced management team at Metro Brands and its strong track record of growth, profitability and financial discipline. Metro Brands operate 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Categories and players in India’s footwear industry <div type="image" title="ventura peer pyramid" height="900" width="1200" msid="88253050" hostid="261"></div> “Due to [the] pandemic, the industry has opened up much more growth opportunities like transition from large unorganised segments to organised players, many acquisition prospects, e-commerce expansion etc. We expect Metro Brands to continue the growth momentum, given above set-up in addition to tying up with third party brands like FitFlops. We recommend “Subscribe for long term,” said analysts at Nirmal Bang Securities. A report by Choice Broking firm says that Metro Brands is one of the largest footwear retailers with around 3-4% market share in the organised market space. “It has reported strong financial performance with robust cash flow generation. The company is [sic] consistently paying dividend [sic] since FY2000. Thus considering the above observations, we assign a “Subscribe for long Term” rating for the issue,” said the report. <div type="image" title="metro ope marging" height="900" width="1200" msid="88253088" hostid="261"></div> Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. 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