Shares of footwear retailer Metro Brands on Wednesday listed with a discount of nearly 13 per cent from the issue price of Rs 500.
The stock listed at Rs 436, a decline of 12.8 per cent against the issue price on BSE. It further tumbled 14.78 per cent to Rs 426.10.
On NSE, it made its debut at Rs 437, a discount of 12.6 per cent. The company commanded a market valuation of Rs 12,805.65 crore on BSE.
The initial public offer of Metro Brands was subscribed 3.64 times on the last day of subscription on Tuesday last week.
The Rs 1,367.5-crore IPO had a price range for the offer at Rs 485-500 per share.
The initial public offer (IPO) had a fresh issue of Rs 295 crore and an offer for sale of up to 2,14,50,100 equity shares.
(With inputs from PTI)
