The public issue of equity shares of C.E. Info Systems Limited will open for subscription on December 10, 2021 and closes on December 14, 2021. It is expected to list on the stock exchanges on December 22, 2021. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
The company is one of the largest Indian footwear speciality retailers, and is among the aspirational Indian brands in the footwear category . It opened its first store under the Metro brand in Mumbai in 1955, and have since evolved into a one-stop shop for all footwear needs, by retailing a wide range of branded products for the entire family including men, women, unisex and kids, and for every occasion including casual and formal events. It also offers accessories such as belts, bags, socks, masks and wallets, at its stores. The Company retails footwear under its own brands such as Metro, Mochi, Walkway, Da Vinchi and J. Fontini as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop.
The Company focuses on economy, mid and premium segments in the footwear market. Its retail operations are carried out through its stores and distributors as well as through online channels. It has 3rd highest number of exclusive retail outlets in India. As of September 30, 2021, the Company operated 598 Stores across 136 cities spread across 30 states and union territories in India.
Who are the Promoters of the Company?
Rafique A. Malik, Farah Malik Bhanji, Alisha Rafique Malik, Rafique Malik Family Trust and Aziza Malik Family Trust
Why is the Company going public?
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
Expenditure for opening new stores of the Company, under the “Metro”, “Mochi”, “Walkway” and “Crocs” brands
General corporate purposes
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
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