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Khadim India Limited IPO (Khadim India IPO) Detail

November 2, 2017 - November 6, 2017

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.

Khadim India IPO Details

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 Size7,240,759 shares
(aggregating up to ₹543.06 Cr)
Fresh Issue[.] shares
(aggregating up to ₹50.00 Cr)
Offer for Sale6,574,093 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Khadim India IPO Reservation

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 OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered1,450,389 (28.59%)NA
NII (HNI) Shares Offered1,086,785 (21.42%)
Retail Shares Offered2,535,832 (49.99%)126,791
Total Shares Offered5,073,006 (100%)

Khadim India IPO Timeline (Tentative Schedule)

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

Khadim India IPO Lot Size

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

About Khadim India Limited

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.

Company Financials

Summary of financial Information (Restated)
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)

Objects of the Issue (Khadim India IPO Objectives)

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.

Khadim India IPO Review (Apply)

[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...

Khadim India IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
Peer Comparison
Name of the companyTotal Revenue (Rs in million)Face Value per Equity Share (Rs )P/EEPS (Basic) (Rs )Return on Net Worth (%)Net Asset Value/Share (Rs )
Bata India Limited25503.565.0042.3112.3712.00103.04
Relaxo Footwears Limited17435.701.0047.8510.2420.3350.34
Khadim India Limited6255.4710.00-17.7816.61107.04
Liberty Shoes Limited4978.6310.0047.353.753.9495.20

Khadim India IPO Prospectus

Khadim India IPO Rating

Rating:Rated 3.9 stars
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Khadim India IPO Listing Details

Listing Date November 14, 2017
BSE Script Code 540775
ISIN INE834I01025
Final Issue Price ₹750 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Khadim India Limited Contact Details

Khadim India Limited
Kankaria Estate, 5th Floor,
6, Little Russell Street,
Kolkata 700 071
Phone: +91 33 4009 0501

Khadim India IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Khadim India IPO - Buy or Not

Khadim India IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 9 1 0
Members 0 0 0

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Khadim India IPO FAQs

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.

The Khadim India IPO listing date is on November 14, 2017.
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Khadim India IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



411. pravin maheshwari |   Link |  Bookmark |December 25, 2017 9:13:25 PM
Sir Khadim ka shere ka rate kuch increase hoga ke nahi . mere pas 3 application hai khadim ki. pls tell us as fast.
410. DashPra |   Link |  Bookmark |December 21, 2017 7:51:10 PM
Stock is sliding everyday. Huge loss. Should I sell ?
409. Aniketiaf |   Link |  Bookmark |December 9, 2017 10:38:46 AM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
Khadim bhai !
Kab tak jhelaoge ?
408. MickeyP |   Link |  Bookmark |November 19, 2017 3:20:39 PM (300+ Posts, 500+ Likes)
Seems there is no IPO lined up in the next few days. Finally IPO flood is settling down.
407. Black Mamba |   Link |  Bookmark |November 15, 2017 2:20:56 PM
Lol.. Bought 1000 shares at 667. Exited at 685. Raked in 10k in a single trade..Long Live Khadim!!! :) :) :)
407.2. Black Mamba |   Link |  Bookmark |November 16, 2017 10:25:26 AM
Total gain is around 13K. rest brokerage & taxes :(
407.3. Neha Mohit |   Link |  Bookmark |November 16, 2017 1:27:01 PM
ohkkk..... 13k in a day is also not bad... goodluck :) ...
406. rsk |   Link |  Bookmark |November 16, 2017 7:52:30 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
From Bloomberg > Khadim India added to BSE IPO Index
405. ANKITDEVIL |   Link |  Bookmark |November 15, 2017 11:01:48 PM
I am lucky sell 7150 shares @ 3.25 average price
404. Carn Mohan |   Link |  Bookmark |November 15, 2017 8:26:38 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Jam kay chal raha hi
403. PRIYANKA BANSAL |   Link |  Bookmark |November 14, 2017 4:28:29 PM
Anybody pls tell me should i sell the khadim shares in order to prevent from loss or i should wait ??? please give me the advice
403.6. rsk |   Link |  Bookmark |November 15, 2017 4:57:20 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
@ Priyanka > Peers like bata relaxo liberty are trading at x50 PE. Khadim is 2nd largest after Bata has FY18 EPS around 18 Rs. so its trading at less than x40.
Its just listed yesterday so price is combination of various factors (incl fear created by even senior boarder that it does not deserve x30 PE or price should be 580 etc) such has short term calls; day call.
Is one of the sponsors of KKR IPL team; strong brand in East and possible support from Didi?

You got to take call yourself
403.7. Nicks Jain |   Link |  Bookmark |November 15, 2017 5:49:29 PM
IPO Mentor IPO Mentor (700+ Posts, 900+ Likes)
All the way it listed in discount, made low around 661 and closed around 700.
Advise to keep Stoploss around 680 and hold.
Seems it can touch 730-750 level
402. rsk |   Link |  Bookmark |November 15, 2017 5:45:47 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
looking at the last 30 min recover with volumes; seems like some accumulation. At least could catch up with Bata tmr ~ 740-750?
Ignore all calls where ppl want to buy cheap by.
There was money to be made yst as well as today; lets hope for hat trick tmr!
401. Carn Mohan |   Link |  Bookmark |November 15, 2017 5:09:22 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Ascha chal raha hi, 50% down ana banta hi
400. P M |   Link |  Bookmark |November 15, 2017 4:46:00 PM (1100+ Posts, 1100+ Likes)
Today makes new low ------------ NSE - 662.00 ---------------- BSE - 661.00
Closed @ --------------------------- NSE - 696.80 ---------------- BSE - 696.70
399. Neha Mohit |   Link |  Bookmark |November 15, 2017 3:04:28 PM
khadim closed @ 702 around...what say now
398. Anarchist |   Link |  Bookmark |November 15, 2017 2:19:01 PM (500+ Posts, 1400+ Likes)
Major part of Khadim issue was OFS..with no sizable dilution..equity only worth 50 Cr was freshly issued out of which 40 Cr would be used to retire close to 1/3rd of their debt obligation which would be EPS accretive.....thats unlike RNAM who aspires to buy more offices and liabilities in the form of staff with the proceeds..:)))
Coming to the EPS''s close to 18 and the PE works out to be 40ish. you don''t get to buy a niche segment consumer goods company for such paltry valuation, do you?..not unless it''s ITC (Of Bharat 22) which ought to remain rahgebound due to eternally lurking tax hike sword on account of being mostly in the business of deterioration of national health ...where destruction is the key to success
So considering the ROE of about 15, the valuation is more than justified ..
Moreover the management looks resolved (they haven''t talked about conquering the universe within minutes of receiving the ipo proceeds)...and have reasonable intent to grow the business step by step in accordance with the market conditions....I guess if held for a long term, this can give steady returns....43,/ 44 PE is darn cheap for a company who has a palpable consumer goods business with established brand name....
A good bet I believe.
397. lake city |   Link |  Bookmark |November 15, 2017 10:21:00 AM
i have khadim share its right that i sell khadim and buy reliance home finance please comment gamble sir
397.2. Market kid |   Link |  Bookmark |November 15, 2017 11:23:19 AM
Lake city this may be you best or worst decision of your life .

I yesterday brought both reliance home and reliance Nippon by selling khadim and now down 6% ,

I bought today also, will buy in more 3-4 days if go down.

Gamble positive for 1 year ,so decide your time of investment and then take decision only.
397.3. VALUE INVESTOR |   Link |  Bookmark |November 15, 2017 1:10:24 PM (900+ Posts, 600+ Likes)
rel home, rel comm are all bearish stocks. They will reach their face value soon.
Rel nippon looking at fall in last 2 days looks risky.
Market may pick up only in January 2018 as result season is over and gujarat elections are in december.
396. Am A |   Link |  Bookmark |November 15, 2017 12:33:19 PM
When even the eternal bull Rakesh Jhun. says that the IPO market is inflated, then there is surely something distorted in the IPO market.

IPOs are dead, long live IPOs!!!
395. Black Mamba |   Link |  Bookmark |November 15, 2017 11:21:21 AM
Should 665 be a good buy for Khadim''s?
394. Shrewd Trader |   Link |  Bookmark |November 15, 2017 11:13:03 AM
It was expected.
394.1. Shrewd Trader |   Link |  Bookmark |November 15, 2017 11:19:19 AM
Khadim means servant or attendant. but you shall never feel lke master in their outlets. :) But now who shall step in its shop when top MNC brands are available at attractive discounts online ? Besides as per my personal exp quality got deteriorated over years.
393. DSR |   Link |  Bookmark |November 15, 2017 10:49:49 AM
Off topic:

Rain Industries: Only sellers no buyers..:P
392. Khemka |   Link |  Bookmark |November 15, 2017 9:37:55 AM (1000+ Posts, 400+ Likes)
185.1. Khemka Nov 6, 2017 1:34:31 PM IST I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes

What happens to Qibs , are they want reduction in prise or ,btw i avoiding ,imo fair prise 580 only

May test 580 too imo