Shares of billionaire investor Rakesh Jhunjhunwala-backed footwear retailer Metro Brands on Wednesday listed with a reduction of almost 13 per cent from the problem value of Rs 500 and settled over 1 per cent decrease.
The inventory listed at Rs 436, a decline of 12.8 per cent in opposition to the problem value on Bombay inventory alternate (BSE). During the day, it tumbled 14.78 per cent to Rs 426.10. It settled at Rs 493.55, a reduction of 1.29 per cent.
On National inventory alternate (NSE), it made its debut at Rs 437, a reduction of 12.6 per cent. It settled at Rs 493.35, decrease by 1.33 per cent.
The firm commanded a market valuation of Rs 13,400.25 crore on BSE.
In quantity phrases, 7.76 lakh shares had been traded on BSE and over 1.97 crore on NSE. The preliminary public provide of Metro Brands was subscribed 3.64 occasions on the final day of subscription on December 14.
The Rs 1,367.5-crore preliminary public provide (IPO) had a value vary of Rs 485-500 per share.
The IPO had a recent situation of Rs 295 crore and an offer-for-sale of as much as 2,14,50,100 fairness shares.
Currently, the corporate has 598 shops in 136 cities unfold throughout the nation.