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Khadim India IPO subscribed 1.9 times

The price band has been fixed at Rs 745-750 per share

Press Trust of India  |  New Delhi 

Khadim India
Khadim India

Footwear retailer Khadim India's initial public offering (IPO) was subscribed 1.9 times on the closing day of bidding on Monday.

The Rs 543-crore IPO received bids for 9,659,000 against the total issue size of 5,073,006 shares, the data till 1930 hrs showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.45 times, non-institutional investors 18 per cent and retail investors 2.3 times, merchant

sources said.

on Wednesday raised Rs 163 crore from anchor investors.

The IPO comprises fresh issue of equity aggregating up to Rs 50 crore besides, an offer for sale of up to 6,574,093 by existing shareholders.

The price band has been fixed at Rs 745-750 per share and at the upper end, the public issue would fetch up to Rs 543 crore.

Net proceeds from the issue will be utilised towards payment of loans and general corporate purposes.

Axis Capital and are 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, November 07 2017. 00:43 IST