Home >Market >Stock-market-news >Khadim India IPO: Rs157.5 crore raised from anchor investors
The Rs543 crore IPO of Khadim India Ltd will open on 2 November and close on 6 November.
The Rs543 crore IPO of Khadim India Ltd will open on 2 November and close on 6 November.

Khadim India IPO: Rs157.5 crore raised from anchor investors

Khadim shares were allocated to 13 investors at Rs750 apiece, the upper end of the price band of Rs745-750 for the IPO

Mumbai: Footwear retailer Khadim India Ltd on Wednesday said it has raised Rs157.5 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.

Shares were allocated to 13 investors at Rs750 apiece, the upper end of the price band of Rs745-750 for the IPO.

Institutional investors that participated in the anchor book allocation include Franklin India, UTI Mutual Fund, HSBC Global Investment Fund, Nomura Singapore Ltd, Birla Sunlife Insurance and IDFC Mutual Fund among others.

The Rs543 crore IPO will open on 2 November and close on 6 November.

The share sale includes a fresh issue of shares worth Rs50 crore. The proceeds from the fresh issue will be used for prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the company and to meet general corporate expenses.

Promoter Siddhartha Roy Burman plans to sell 722,000 shares, which at the upper end of the price band will fetch Rs54 crore, while Fairwinds Private Equity (formerly Reliance Equity Advisors) will sell 5.85 million shares worth Rs438 crore. Fairwinds, which currently holds 33% stake in Khadim, invested Rs90 crore in 2013.

IDFC Bank Ltd and Axis Capital Ltd are managing the Khadim share sale.

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