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Footwear retailer Khadim India plans to raise Rs 543 crore through an initial public offer next month. The company has fixed a price band of Rs 745-750 per share.
At the upper-end of the price band, the IPO is expected to garner Rs 543.06 crore. The IPO will open for subscription from November 2-6, the company said in a statement.
Khadim India’s initial public offer (IPO) comprises fresh issue of equity shares aggregating up to Rs 50 crore, besides an offer for sale of up to 65,74,093 equity shares by existing shareholders.
The company’s promoter Siddhartha Roy Burman would sell 7.22 lakh equity shares, while Fairwinds Trustees Services Pvt Ltd would offer 58,52,093 scrips.
Net proceeds from the issue would be utilised towards payment of loans and for general corporate purposes. Axis Capital and IDFC Bank are the book running lead managers to the issue.
The company was incorporated in 1981 and for several years it was involved in wholesale and distribution of basic utility footwear. It had entered into the retail business in 1993.
As on June 30, 2017, it has 853 retail store outlets in across 23 States and one Union Territory in India.
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