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Proceeds will be used for payment of debt, funding working capital requirements, pursuing inorganic initiatives and general corporate purposes.
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The public issue consists of a fresh issue of equity shares worth up to Rs 120 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by promoter and promoter group entity, according to draft red herring prospectus (DRHP), , Balaji Solutions, IPO Papers, sebi, initial public offering
Footwear retailer Metro Brands, which is likely to come out with its initial share-sale by the end of the month, will utilise ₹250 crore from the proceeds towards opening 219 stores in the next two-and-half years, its senior official said