InvestorQ : Did the Metro Brands IPO get good response on the first day or was it negatively impacted by the Rakesh Jhunjhunwala factor?
sara Kunju made post

Did the Metro Brands IPO get good response on the first day or was it negatively impacted by the Rakesh Jhunjhunwala factor?

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Mary Joseph answered.
5 months ago
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First and foremost, I don’t think that there is anything related to any one investors. Mr. Jhunjhunwala is an investor in Metro Brands since 2007 and he has stood by the company for long enough. Star Health may have had a bad subscription, but that was for different reasons altogether. Metro response was tepid on the first day of the IPO, but that is normal in the case of most IPOs and there is not factor to blame here.

Friday 10-Dec was the first day of the Metro Brands IPO and overall subscriptions were to the tune of 27% of the issue size. The QIB and NII portion did not see too much of response (as is the case with many IPO) because these responses come in on the last day. However, the retail portion got 52% response at the end of first day. It is too early, because the IPO still has 2 more days to go and we must wait till the end of the IPO.

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