Khadim India files DRHP for its IPO

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July 03, 2017: One of the leading footwear brands in India, Khadim India Limited (KIL) filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO).

The Initial public offering comprises of a fresh issue aggregating up to Rs. 500 million (“fresh issue”) and an offer for sale of up to 6,574,093 equity shares by the “selling shareholders”.

The equity shares will have a face value of Rs. 10 each.  The issue will be on book-building basis and the price band to be decided later.

KIL’s core business objective is ‘Fashion for Everyone’, and the Company has established an identity as an ‘affordable fashion’ brand, catering to the entire family for all occasions. As of March 31, 2017, they 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.

The Net Proceeds from the Fresh Issue are proposed to be utilised towards prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the Company and for general corporate purposes.

Axis Capital Limited and IDFC Bank Limited are the book running lead managers to the issue and Link Intime India Private Limited is the Registrar.