Khadim India Files IPO Papers With SEBI:
Khadim India, one of the leading footwear brands in India, has filed its draft red herring prospectus (DRHP) with the market regulator SEBI for its initial public offering (IPO).
The issue comprises of a fresh issue aggregating up to Rs 50 crore and an offer for sale of up to 65,74,093 equity shares by the selling shareholders.
As of March 2017, the company operated 829 Khadim’s branded exclusive retail stores across 23 states and one union territory in India, through their retail business vertical. Further, they had a network of 357 distributors in fiscal 2017, in KIL’s distribution business vertical.
Khadim will use fresh issue proceeds towards repayment of term loans and working capital facilities and for general corporate purposes.
Incorporated in 1981, Khadim India is the second largest footwear retailer in India in terms of number of exclusive retail stores operating under the Khadim’s brand, with the largest presence in East India and one of the top three players in South India, in fiscal 2016.
The book running lead managers to the issue are Axis Capital and IDFC Bank.
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