Khadim India files IPO prospectus with SEBI

Leading footwear brand Khadim India on Monday said it has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI for its initial public offering (IPO).

According to the company, the IPO will comprise of a fresh issue aggregating up to Rs 500 million and an offer for sale of up to 6,574,093 equity shares by the "selling shareholders".

"The equity shares will have a face value of Rs 10 each. The issue will be on book-building basis and the price band decided later," the company said in a statement.

"The net proceeds from the fresh issue are proposed to be utilised towards prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the company and for general corporate purposes."

As of March 31, the company operated 829 'Khadim's' branded exclusive retail stores across 23 states and one union territory in India, through their retail business vertical.

--IANS

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