Khadim India to make stock market debut today

Khadim India’s IPO was subscribed 1.90 times during 2-6 November. Photo: Mint

New Delhi: Footwear retailer Khadim India will list on the bourses on Monday following the conclusion of its Rs543-crore initial public offer last week.

Khadim India’s IPO was subscribed 1.90 times during 2-6 November. The price band for the offer was fixed at Rs745-750 per share. The IPO comprised fresh issue of equity shares aggregating up to Rs50 crore, besides an offer for sale of up to 65,74,093 shares by existing shareholders.

The 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 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.