Khadim IPO subscribed 45% on Day 2

Retail portion witnessed 84% subscription

The Rs 540-crore initial public offering (IPO) of Khadim India garnered 45 per cent subscription on Friday, the second day of the issue. The retail portion witnessed  84 per cent subscription, while that of institutional and wealthy investors was subscribed less than 10 per cent. Khadim’s IPO comprises an offer for sale by promoters and private equity players worth Rs 493 crore and fresh fundraising worth Rs 50 crore. At the top end of the price band, the footwear brand will valued at Rs 1,350 crore, 44 times its 2016-17 earnings.