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Khadim India
Footwear major Khadim India Ltd is expecting to complete the demerger of its distribution business by March 2025 with a subsequent listing in the bourses by May, an official said on Monday The company is also exploring quick commerce partnerships with platforms like Zepto for utility products such as school shoes and EVA slippers to boost sales, he said. The Kolkata-based footwear maker had earlier announced the decision to carve out its distribution business and manufacturing activities into KSR Footwear Ltd (KFL) to improve margins and valuations. "The demerger is pending before the NCLT. An order is expected by the end of this month or March. As of now, the planned effective date of the demerger is April 1. Listing of the demerged entity (KSR) will take place within May," Khadim's chief financial officer Indrajit Chaudhuri told PTI. This strategic move is expected to unlock substantial value for its core retail business, which comprises approximately 890 stores under the Khadim
Khadim India Ltd, the country's second-largest retail footwear brand, on Friday said its Whole-time Director Rittick Roy Burman will manage the overall operations of the company. The board of Khadim India has approved the revised leadership structure, said a statement from the company. Rittick is a member of the promoter group and key managerial personnel of the company. He will be reporting to Siddhartha Roy Burman, Chairman & Managing Director of the Company, it added. The changes are effective from March 24, 2023. Commenting on the development Siddhartha Roy Burman said: "Rittick has been associated in a leadership role of the organisation from 2019 as a Whole-time Director. We firmly believe that he is the right choice to create sustainable business and value for all stakeholders". Rittick, an alumnus of the University of California, Berkeley, had joined the business at an early age, just after completing his graduation. The change in leadership is announced following the ...
Shares of footwear company Khadim India dropped nearly 10 per cent during their stock market debut on Tuesday. The stock ended at Rs 680.5, down 9.3 per cent, or Rs 69.5 over its issue price of Rs 750 per share. A day earlier, shares of New India Assurance too had declined nine per cent during their trading debut. Market players say back to back weak listings could hurt investor sentiment towards primary issuances. In intra-day trade, shares of Khadim touched an intra-day high of Rs 740 and a low of Rs 677.3, with a total of Rs 244 crore worth of shares changing hands on BSE and the NSE.Khadim's Rs 540-crore IPO had garnered less than two times subscription. The retail portion of the IPO was subscribed 2.3 times, while institutional investor category was subscribed 2.5 times. Shares reserved for high net-worth individual (HNI) had remained unsubscribed. Khadim's IPO comprised of offer for sale by promoters and private equity players worth Rs 493 crore and fresh fund raising worth Rs ..