Metro Brands block deal: 2.2% equity changes hands at ₹1,260 apiece

Metro Brands, the multi-brand footwear retail company based in Mumbai, witnessed a large trade in the block deal window on Friday, September 6. 

As per reports, 59.5 lakh shares, or 2.2% equity, of the company changed hands at an average price of ₹1,260 per share. The size of the deal was reported to be ₹750 crore. 

Post the development, shares of the company were trading 1.28% lower at ₹1,257.00 apiece on the BSE. 

Metro Brands is a footwear retailer that targets the economy, mid, and premium segments in the Indian footwear market. It opened its first store under the ‘Metro’ brand in Mumbai in 1955 and has since evolved into a one-stop shop for all footwear needs.

Metro Brands reported a 1% year-on-year decline in net profit for the first quarter of the current financial year (Q1 FY25).

The footwear brand recorded a net profit of Rs 92.27 crore for the quarter-ended June, as compared to Rs 93.50 crore in the same quarter of the previous fiscal. 

Its revenue decreased by 1.1% year-on-year for the quarter ended June, as per news reports.