The initial public offering (IPO) of Kolkata-based footwear retailer Khadim’s India opened today for bidding with the bidding process open till November 6. The company expects to raise about Rs 543.06 crore at the upper end of the price band. Franklin India, UTI Mutual Fund, HSBC Global Investment Fund and IDFC Mutual Fund are among the anchor investors.
The company, with most outlets in east India, raised Rs 163 crore from anchor investors yesterday. Its public issue consists of a fresh issue of equity shares totalling up to Rs 50 crore and an offer for sale of up to 65.74 lakh equity shares, according to a news agency report.
The net proceeds from this issue are planned to be utilised for prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the company and for other general corporate purposes.
Set up in 1965, the company has 853 retail store outlets in across 23 states and one union territory. (DS)
Fibre2Fashion News Desk – India