{"id":17623,"date":"2021-12-08T17:20:31","date_gmt":"2021-12-08T11:50:31","guid":{"rendered":"https:\/\/www.moneyworks4me.com\/investmentshastra\/?p=17623"},"modified":"2021-12-16T10:15:37","modified_gmt":"2021-12-16T04:45:37","slug":"metro-brands-ipo-review","status":"publish","type":"post","link":"https:\/\/www.moneyworks4me.com\/investmentshastra\/metro-brands-ipo-review\/","title":{"rendered":"Metro Brands IPO Review &#8211; Scalable brand but no margin of safety"},"content":{"rendered":"<div style=\"background: #ffe6e6; border: 1px solid #ff1a1a; border-left-color: Brick tomato; border-left-style: solid; border-left-width: 15px; padding: 15px; margin-bottom: 5px; margin-top: 7px;\">\n<h2 style=\"font-size: 18px;\">Metro Brands Limited IPO Details:<\/h2>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">IPO Date:\u00a0<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">Dec 10<\/span><sup><span style=\"font-size: 9.0pt; line-height: 150%; font-family: 'Georgia','serif';\">th<\/span><\/sup><span style=\"font-family: 'Georgia','serif';\">\u00a0to Dec 14<sup>th<\/sup>\u00a02021<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Total Shares for subscription:<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">\u00a0~2.7 Cr<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Lot Size:<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">\u00a030 shares<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Price Band:<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">\u00a0Rs. 485-500 \/ share<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Issue Size:<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">\u00a0Rs.\u00a01,368 Cr<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Market Capitalization:<\/span><\/strong><span style=\"font-family: 'Georgia','serif';\">\u00a0~Rs. 13,575 Cr<\/span><\/p>\n<p style=\"text-align: left; line-height: 150%; margin: 0cm 0cm 18.0pt 0cm;\"><strong><span style=\"font-family: 'Georgia','serif';\">Recommendation: <\/span><span style=\"font-family: 'Georgia','serif'; color: #ff0000;\">Avoid<\/span><\/strong><\/p>\n<\/div>\n<p><strong>Proceeds of the offer<\/strong><\/p>\n<ul>\n<li>New stores opening \u2013 Rs. 225 Cr<\/li>\n<li>Offer for sale (existing shareholders selling their shares) &#8211; Rs. 1143 Cr<\/li>\n<\/ul>\n<h2 style=\"font-size: 18px;\">About the Metro Brands Limited<\/h2>\n<p><strong><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/sector\/retailing\/metro-brands\/company-info\">Metro Brands Limited<\/a><\/strong> (\u201cMetro Brands\u201d) was incorporated on January 19, 1977. Metro Brands is one of the premium footwear specialty retailers. From just one store Metro brand in Mumbai in 1955, it has evolved into a one-stop-shop for all footwear needs with 598 stores and 136 cities.<\/p>\n<p><em>Metro Brands<\/em> sells footwear under their own brands of Metro, Mochi, Walkway, Da Vinchi, and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Metro Brands also offers accessories such as belts, bags, socks, masks, and wallets, at their stores.<\/p>\n<p><strong><u>Own brands:<\/u><\/strong><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-17625 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands.png\" alt=\"own brands\" width=\"390\" height=\"169\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands.png 390w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands-150x65.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands-270x117.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/own-brands-370x160.png 370w\" sizes=\"(max-width: 390px) 100vw, 390px\" title=\"\"><\/a><\/p>\n<p><strong><u>Third-party brands:<\/u><\/strong><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-17626 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands.png\" alt=\"third party brands\" width=\"462\" height=\"163\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands.png 462w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands-150x53.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands-270x95.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/third-party-brands-370x131.png 370w\" sizes=\"(max-width: 462px) 100vw, 462px\" title=\"\"><\/a><\/p>\n<p>Metro primarily owns Multi Brand Outlets (\u201cMBOs\u201d) and Exclusive Brand Outlets (\u201cEBOs\u201d). They operate Metro, Mochi and Walkway branded MBOs and Crocs&#x2122; branded EBOs. It also operates shop-in-shops (\u201cSIS\u201d) in major departmental stores across India.<\/p>\n<p><strong>Metro Brands<\/strong> follows an asset-light model wherein 1) it outsources manufacturing 2) leases outs space on long-term agreements 3) uses advanced inventory management techniques to ensure high asset turnover.<\/p>\n<h3 style=\"font-size: 16px;\">Financials:<\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-17627 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials.png\" alt=\"financials\" width=\"416\" height=\"110\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials.png 416w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials-150x40.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials-270x71.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/financials-370x98.png 370w\" sizes=\"(max-width: 416px) 100vw, 416px\" title=\"\"><\/a><\/p>\n<p>Metro Brands grew from Rs. 900 cr in FY2017 to Rs. 1300 Cr by FY2020. Sales dropped close to 40% due to Covid lockdown and recovered in the first 2 quarters of FY22.<\/p>\n<p>The company clocks healthy margins thanks to private brands. It also earns a high return on equity due to i) asset-light business model ii) higher margins.<\/p>\n<h3 style=\"font-size: 16px;\">Management<\/h3>\n<p><strong>Nissan Joseph<\/strong> is the Chief Executive Officer of the company. He has in the past worked with Payless Shoes Pty Ltd and Hickory Brands, Inc. He has also spent over 5 years in key roles in Crocs, where he also worked with the company. Prior to joining the company, he was associated with MAP Active &amp; Planet Sports Inc. in the Philippines, a lifestyle retailer in Southeast Asia, where he was chief executive officer since March 2020. He has been appointed as the Chief Executive Officer on July 1, 2021.<\/p>\n<p><strong>Farah Malik Bhanji<\/strong> is the Managing Director on the Board. She has been associated with the company as a director since December 5, 2000. She has over 20 years of experience in the field of footwear retail. She is the promoter and held a 68% stake pre-IPO.<\/p>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/moneyworks4me-core?from=investmentshastra-metro-brands-ipo\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-17581 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks.png\" alt=\"invest in blue-chip stocks\" width=\"850\" height=\"150\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks.png 850w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks-600x106.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks-150x26.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks-768x136.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks-270x48.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/11\/invest-in-blue-chip-stocks-370x65.png 370w\" sizes=\"(max-width: 850px) 100vw, 850px\" title=\"\"><\/a><\/p>\n<div style=\"border: 2px solid #FE6464; padding: 10px; background-color: #ffe6e6; border-radius: 30px 5px;\">\n<h2 style=\"font-size: 18px;\">MoneyWorks4me Opinion<\/h2>\n<h3 style=\"font-size: 16px;\">How is the business model? Good, bad, or gruesome?<\/h3>\n<p>Good. Retail can be a profitable business model especially if it is managed efficiently and operates in a niche. Asset light, cost consciousness bodes well for sustained profitability for retail business.<\/p>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/sector\/retailing\/metro-brands\/company-info\"><strong>Metro Brands<\/strong><\/a> is into premium brands for aspirational Indians. It has an average ticket size of Rs 1000+ versus a mass average of 200-500 range. It has its own brands as well as third-party brands like Crocs. Private brands have high margins as the company has pricing power from spends on marketing and promotions.<\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-17628 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands.png\" alt=\"metro brands\" width=\"610\" height=\"291\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands.png 610w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands-600x286.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands-150x72.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands-270x129.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/12\/metro-brands-370x177.png 370w\" sizes=\"(max-width: 610px) 100vw, 610px\" title=\"\"><\/a><\/p>\n<p>The asset-light nature of business with outsourced manufacturing and leased-out stores ensures high profitability. However, high fixed costs like lease dent profits if volumes decline but since it is a growing industry, it is unlikely to cause high variability in earnings.<\/p>\n<p>Metro Brands will benefit from an increase in disposable income and improving lifestyle. It can introduce new brands or open more stores of existing brands. The asset-light model can ensure faster scalability and higher return on equity.<\/p>\n<p>Metro Brands reported Rs. 1300 Crore in FY20 and clocked an operating margin of 27%. We estimate that if sales were to go back to pre-covid levels, IPO has priced at ~52x P\/E ratio.<\/p>\n<p>We believe that this price assumes around 22% CAGR growth over the next 10 years. While such a growth rate is plausible but paying up for such high growth is fraught with risk.<\/p>\n<p><strong>We would recommend <span style=\"color: #ff0000;\">AVOID<\/span> in IPO but can be added to the watchlist for opportunities in the future.<\/strong> Currently, IPOs even if oversubscribed are seeing selling pressure as liquidity is low. So we recommend avoiding IPOs even for listing gains.<\/p>\n<\/div>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"time-table\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">Metro Brands IPO Tentative Timetable:<\/span><\/span><\/h2>\n<table width=\"620\">\n<tbody>\n<tr>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>IPO Activity<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>Date<\/strong><\/td>\n<\/tr>\n<tr>\n<td>IPO Open Date<\/td>\n<td style=\"text-align: center;\">Dec 10, 2021<\/td>\n<\/tr>\n<tr>\n<td>IPO Close Date<\/td>\n<td style=\"text-align: center;\">Dec 14, 2021<\/td>\n<\/tr>\n<tr>\n<td>Basis of Allotment Date<\/td>\n<td style=\"text-align: center;\">Dec 17, 2021<\/td>\n<\/tr>\n<tr>\n<td>Refunds Initiation<\/td>\n<td style=\"text-align: center;\">Dec 20, 2021<\/td>\n<\/tr>\n<tr>\n<td>A credit of Shares to Demat Account<\/td>\n<td style=\"text-align: center;\">Dec 21, 2021<\/td>\n<\/tr>\n<tr>\n<td>IPO Listing Date<\/td>\n<td style=\"text-align: center;\">Dec 22, 2021<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"time-table\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">Retail Individual Investor IPO Lot Size:<\/span><\/span><\/h2>\n<table class=\"table table-condensed table-bordered table-striped table-nonfluid\">\n<thead>\n<tr>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Application<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Lots<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Shares<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"text-align: center;\">Minimum<\/td>\n<td style=\"text-align: center;\">1<\/td>\n<td style=\"text-align: center;\">30<\/td>\n<td style=\"text-align: center;\">\u20b9 15,000<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Maximum<\/td>\n<td style=\"text-align: center;\">13<\/td>\n<td style=\"text-align: center;\">390<\/td>\n<td style=\"text-align: center;\">\u20b9 195,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"background-color: #7e7d7d; font-size: 18px; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"subscription\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">Metro Brands IPO Subscription Status:<\/span><\/span><\/h2>\n<table width=\"620\">\n<tbody>\n<tr>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>Date<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>QIB<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>NII<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>Retail<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>Total<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Dec 10, 2021<\/td>\n<td style=\"text-align: center;\">0.00x<\/td>\n<td style=\"text-align: center;\">0.02x<\/td>\n<td style=\"text-align: center;\">0.52x<\/td>\n<td style=\"text-align: center;\">0.27x<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Dec 13, 2021<\/td>\n<td style=\"text-align: center;\">0.16x<\/td>\n<td style=\"text-align: center;\">0.17x<\/td>\n<td style=\"text-align: center;\">0.87x<\/td>\n<td style=\"text-align: center;\">0.52x<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Dec 14, 2021<\/td>\n<td style=\"text-align: center;\">8.49x<\/td>\n<td style=\"text-align: center;\">3.02x<\/td>\n<td style=\"text-align: center;\">1.13x<\/td>\n<td style=\"text-align: center;\">3.64x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"faq\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">Metro Brands IPO Faqs:<\/span><\/span><\/h2>\n<h3 style=\"font-size: 16px;\">When will the Metro Brands Ltd IPO open?<\/h3>\n<p><strong><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/sector\/retailing\/metro-brands\/company-info\">Metro Brands Ltd<\/a><\/strong> IPO will open for subscription on Friday, 10<sup>th<\/sup> Dec 2021,\u00a0and closes on Tuesday, 14<sup>th<\/sup> Dec 2021.<\/p>\n<h3 style=\"font-size: 16px;\">What is the price band of Metro Brands Ltd IPO?<\/h3>\n<p>The price band for Metro Brands Ltd IPO is Rs. 485-500\/share.<\/p>\n<h3 style=\"font-size: 16px;\">What is the lot size for Metro Brands Ltd IPO?<\/h3>\n<p>Retail investors can subscribe to the IPO minimum lot size is 30 shares, up to a maximum of 13 lots i.e. Rs. 1,95,000\/-.<\/p>\n<h3 style=\"font-size: 16px;\">What is the issue size of Metro Brands Ltd IPO?<\/h3>\n<p>The total issue size is ~ Rs. 1,368 Cr.<\/p>\n<h3 style=\"font-size: 16px;\">What is the quota reserved for retail investors in Metro Brands Ltd IPO?<\/h3>\n<p>The quota for retail investors in Metro Brands Ltd IPO is fixed at 35% of the net offer.<\/p>\n<h3 style=\"font-size: 16px;\">When will the basis of allotment be out?<\/h3>\n<p>Allotment will be finalized on December 17<sup>th<\/sup> and refunds will be initiated by December 20<sup>th<\/sup>. Shares allotment will be credited in Demat accounts by December 21<sup>st<\/sup>.<\/p>\n<h3 style=\"font-size: 16px;\">What is the listing date of Metro Brands Ltd IPO?<\/h3>\n<p>The tentative listing date of Metro Brands Ltd IPO is Wednesday, December 22<sup>nd<\/sup>.<\/p>\n<h3 style=\"font-size: 16px;\">Where could we check the Metro Brands Ltd IPO allotment?<\/h3>\n<p>One can check the subscription status on\u00a0<a href=\"https:\/\/linkintime.co.in\/MIPO\/Ipoallotment.html\" target=\"_blank\" rel=\"noopener\"><strong>Link Intime India Private Ltd<\/strong><\/a>.<\/p>\n<h3 style=\"font-size: 16px;\">What does Metro Brands Ltd do?<\/h3>\n<p><strong><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/sector\/retailing\/metro-brands\/company-info\"> Metro Brands<\/a><\/strong> is a footwear specialty retailer, in India. The company caters to the footwear needs of customers through a wide range of branded products for the entire family including men, women, unisex and kids, and different occasions. The company targets the mid and premium segments in the footwear market which have a higher presence of organized players and growth in the overall footwear industry.<\/p>\n<h3 style=\"font-size: 16px;\">Who are the peers of Metro Brands Ltd?<\/h3>\n<p>Listed company peers for Metro Brands Ltd are <a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/fmcg\/footwear\/relaxo-footwears\/company-info#decision-maker-anchor-link\">Relaxo<\/a>, <a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/large-cap\/fmcg\/retailing\/bata-india\/company-info#decision-maker-anchor-link\">Bata India<\/a>, and <a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/fmcg\/footwear\/mirza-international\/company-info#decision-maker-anchor-link\">Mirza International<\/a>. However, Metro Brands operates in higher ticket size footwear.<\/p>\n<h3 style=\"font-size: 16px;\">What if I do not get the allotment?<\/h3>\n<p style=\"font-size: 16px;\">If you do not get an allotment of this IPO we recommend you to check out our\u00a0<a href=\"https:\/\/www.moneyworks4me.com\/moneyworks4me-core\"><strong>MoneyWorks4me Core Superstars<\/strong>\u00a0<\/a>which helps you build a strong portfolio right away. It offers a Model Portfolio of high-quality stocks and Buy\/Sell alerts on Quality stocks at a reasonable price and SIP recommendations on stocks. You get all this for a price that can be as low as Rs. 4,999 under a limited period offer. With the help of MoneyWorks4me Core Superstars, you would have picked winners like Asian Paints, Divis Labs, Titan, Pidilite, Cipla, Bharti Airtel, ICICI Bank.<\/p>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/stock-market\/learn-guide\/free-online-webinars?from=investmentshastra-banner-metro-brands-ipo\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-16449 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px.png\" alt=\"live webinar banner\" width=\"607\" height=\"80\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px.png 607w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px-600x79.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px-150x20.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px-270x36.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/06\/607-80px-370x49.png 370w\" sizes=\"(max-width: 607px) 100vw, 607px\" title=\"\"><\/a><\/p>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d;\"><span id=\"recent-ipo\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">\u00a0Recent IPOs:<\/span><\/span><\/h2>\n<div id=\"footable_parent_17629\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap3 \">\n                <table data-ninja_table_instance=\"ninja_table_instance_0\" data-footable_id=\"17629\" data-filter-delay=\"1000\" aria-label=\"recent ipo_08122021( Read more )\"            id=\"footable_17629\"\n           data-unique_identifier=\"ninja_table_unique_id_442905565_17629\"\n           class=\" foo-table ninja_footable foo_table_17629 ninja_table_unique_id_442905565_17629 table  nt_type_ajax_table table-striped table-bordered table-hover table-condensed vertical_centered  footable-paging-right ninja_table_search_disabled\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                            <col class=\"ninja_column_5 \">\n                    <\/colgroup>\n            <\/table>\n    \n    \n    \n<\/div>\n\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/ipo-historical-table\/\" target=\"_blank\" rel=\"noopener\"><strong><span data-preserver-spaces=\"true\">Click here<\/span><\/strong><\/a><strong><span data-preserver-spaces=\"true\">, for the Recent IPO complete list and IPO Historic data 2021.<\/span><\/strong><\/p>\n<p><strong>How Model Portfolio can help you invest Successfully in Stocks?<\/strong><\/p>\n<p><iframe loading=\"lazy\" title=\"How Model Portfolio can help you invest Successfully in Stocks?\" width=\"770\" height=\"433\" src=\"https:\/\/www.youtube.com\/embed\/71uZx0gUPPs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; 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And more<\/b><b>\u2026.<\/b><b>Puchho<\/b> <b>Befikar<\/b><\/span><\/p>\n<div class=\"puchhoBefikarIcon\"><img decoding=\"async\" loading=\"lazy\" class=\"\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/puchho-befikar-logo.png\" width=\"59\" height=\"46\" alt=\"\" title=\"\"><\/div>\n<p><b><i><br \/>\n<\/i><\/b><a href=\"https:\/\/www.youtube.com\/watch?v=iqqbuJbMlk4 \" target=\"_blank\" rel=\"noopener\">Why MoneyWorks4me<\/a> | Call: <a href=\"tel:+91 20 6725 8333\">020 6725 8333<\/a> | WhatsApp: <a href=\"https:\/\/api.whatsapp.com\/send?phone=918055769463&amp;text=Need%20any%20help?\" target=\"_blank\" rel=\"noopener\">8055769463<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Metro Brands Limited IPO Details: IPO Date:\u00a0Dec 10th\u00a0to Dec 14th\u00a02021 Total Shares for subscription:\u00a0~2.7 Cr Lot Size:\u00a030 shares Price Band:\u00a0Rs. 485-500 \/ share Issue Size:\u00a0Rs.\u00a01,368 Cr Market Capitalization:\u00a0~Rs. 13,575 Cr Recommendation: Avoid Proceeds of the offer New stores opening \u2013 Rs. 225 Cr Offer for sale (existing shareholders selling their shares) &#8211; Rs. 1143 Cr [&hellip;]<\/p>\n","protected":false},"author":725,"featured_media":17630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1166,822],"tags":[141,1416,1336,1442,1441],"modified_by":"MoneyWorks4me","_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/17623"}],"collection":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/users\/725"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/comments?post=17623"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/17623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media\/17630"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=17623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=17623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=17623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}