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Khadim India IPO is a book built issue of Rs 543.06 crores. The issue comprises of fresh issue of Rs 50.00 crore and offer for sale of 0.66 crore shares.
Khadim India IPO bidding started from November 2, 2017 and ended on November 6, 2017. The allotment for Khadim India IPO was finalized on Friday, November 10, 2017. The shares got listed on BSE, NSE on November 14, 2017.
Khadim India IPO price band is set at ₹745 to ₹750 per share. The minimum lot size for an application is 20 Shares. The minimum amount of investment required by retail investors is ₹15,000.
Axis Bank Limited and Idfc Bank Limited are the book running lead managers of the Khadim India IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Khadim India IPO RHP for detailed information.
| IPO Date | November 2, 2017 to November 6, 2017 |
| Listing Date | November 14, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹745 to ₹750 per share |
| Lot Size | 20 Shares |
| Total Issue Size | 7,240,759 shares (aggregating up to ₹543.06 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹50.00 Cr) |
| Offer for Sale | 6,574,093 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Khadim India IPO offers 5,073,006 shares. 1,450,389 (28.59%) to QIB, 1,086,785 (21.42%) to NII, 2,535,832 (49.99%) to RII. 126,791 RIIs will receive minimum 20 shares and (sNII) and (bNII) will receive minimum 280 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,450,389 (28.59%) | NA |
| NII (HNI) Shares Offered | 1,086,785 (21.42%) | |
| Retail Shares Offered | 2,535,832 (49.99%) | 126,791 |
| Total Shares Offered | 5,073,006 (100%) |
Khadim India IPO opens on November 2, 2017, and closes on November 6, 2017.
| IPO Open Date | Thursday, November 2, 2017 |
| IPO Close Date | Monday, November 6, 2017 |
| Basis of Allotment | Friday, November 10, 2017 |
| Initiation of Refunds | Monday, November 13, 2017 |
| Credit of Shares to Demat | Monday, November 13, 2017 |
| Listing Date | Tuesday, November 14, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 6, 2017 |
Investors can bid for a minimum of 20 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹15,000 |
| Retail (Max) | 13 | 260 | ₹195,000 |
| Lot Size Calculator | |||
Incorporated in 1981, Khadim India Limited is Kolkata based second largest footwear retailer in India. Company operates exclusive retail stores under the 'Khadims' brand with major presence in East India. Khadim India operates through two business verticals, retail and distribution.
The retail business operates through its exclusive retail stores catering to middle and upper middle income consumers in large cities. Company has over 829 'Khadims' branded exclusive retail stores. Out of this, 167 are company owned and operated stores and remaining are franchisee operated stores. Company's retail business constitutes over 70% of its net revenue. Over 85% of products sold through its retail stores are manufactured by outsourced vendors.
The distribution business operates through a wide network of distributors catering to lower and middle income consumers. Company have a network of 357 distributors. The distribution business constituted over 20% of its net revenue. A large portion products sold through distributors are manufactured by the company at its own manufacturing facilities and through contract manufacturing facilities. Company have two owned manufacturing facilities and two outsourced manufacturing facilities.
Key Strengths
1. 2nd largest footwear retailer in India.
2. Offers affordable fashion across various price segments.
3. Retail and distribution business model.
4. Asset light model leading to higher operating leverage.
5. Strong presence in East and South India.
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||||
| Total Assets | 4098.00 | 3522.98 | 3456.04 | |||
| Total Revenue | 6255.47 | 5388.30 | 4657.04 | |||
| Profit After Tax | 307.56 | 252.44 | (186.57) | |||
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The Offer for Sale
The Selling Shareholders will recieve the proceeds of the Offer for Sale. Company will not receive any proceeds from this.
The Fresh Issue
The Net Proceeds from the Fresh Issue are proposed to be utilised towards the following objects:
1. Prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the Company; and
2. General corporate purposes.
[Dilip Davda] Although it appears highly priced offer compared to Bata which is trading around 59 P/E, moderate investment may be considered for medium to long term in this issue as it compares well with Liberty and Relaxo that are trading above 100 P/E. (as on 26.10.17) (Subscribe). Read detail review...
The Khadim India IPO is subscribed 1.90 times on November 6, 2017 7:30:00 PM. The public issue subscribed 2.34 times in the retail category, 2.45 times in the QIB category, and 0.18 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.45 |
| NII | 0.18 |
| Retail | 2.34 |
| Total | 1.90 |
| Name of the company | Total Revenue (Rs in million) | Face Value per Equity Share (Rs ) | P/E | EPS (Basic) (Rs ) | Return on Net Worth (%) | Net Asset Value/Share (Rs ) |
|---|---|---|---|---|---|---|
| Bata India Limited | 25503.56 | 5.00 | 42.31 | 12.37 | 12.00 | 103.04 |
| Relaxo Footwears Limited | 17435.70 | 1.00 | 47.85 | 10.24 | 20.33 | 50.34 |
| Khadim India Limited | 6255.47 | 10.00 | - | 17.78 | 16.61 | 107.04 |
| Liberty Shoes Limited | 4978.63 | 10.00 | 47.35 | 3.75 | 3.94 | 95.20 |
| Listing Date | November 14, 2017 |
| BSE Script Code | 540775 |
| NSE Symbol | KHADIM |
| ISIN | INE834I01025 |
| Final Issue Price | ₹750 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹750.00 |
| ₹727.00 |
| ₹677.30 |
| ₹740.00 |
| ₹688.50 |
| NSE |
|---|
| ₹750.00 |
| ₹730.00 |
| ₹680.00 |
| ₹739.65 |
| ₹688.85 |
Khadim India Limited
Kankaria Estate, 5th Floor,
6, Little Russell Street,
Kolkata 700 071
Phone: +91 33 4009 0501
Email: compliance@khadims.com
Website: https://www.khadims.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: khadim.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Khadim India IPO is a main-board IPO of 7,240,759 equity shares of the face value of ₹10 aggregating up to ₹543.06 Crores. The issue is priced at ₹745 to ₹750 per share. The minimum order quantity is 20 Shares.
The IPO opens on November 2, 2017, and closes on November 6, 2017.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Khadim India IPO opens on November 2, 2017 and closes on November 6, 2017.
Khadim India IPO lot size is 20 Shares, and the minimum amount required is ₹15,000.
You can apply in Khadim India IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Khadim India IPO will be done on Friday, November 10, 2017, and the allotted shares will be credited to your demat account by Monday, November 13, 2017. Check the Khadim India IPO allotment status.
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