Khadim India to make market debut on Tuesday

Footwear retailer Khadim India will list on the bourses on Tuesday following the conclusion of its Rs 543-crore initial public offer last week.

Khadim India’s IPO was subscribed 1.90 times during the offer period from November 2-6. Price band for the offer was fixed at Rs 745-750 per share.

The

IPO comprised fresh issue of equity shares aggregating up to Rs 50 crore, besides an offer for sale of up to 65,74,093 shares by existing shareholders.

Net proceeds from the issue are to be utilised towards payment of loans and general corporate purposes. Axis Capital and IDFC Bank were the book running lead managers to the issue.

Incorporated in 1981, the company had entered into retail business in 1993. At the end of June this year, it had 853 retail store outlets in different parts of the country.