Khadim India IPO Details

Issue Open Nov 2, 2017
Issue Close Nov 6, 2017
IPO Price ₹750
Face Value ₹10
IPO Size ₹543.06 Cr
Listing At BSE, NSE
IPO Lot Size 20

KHADIM INDIA LIMITED

Our Company was originally incorporated as S. N. Footwear industries Private Limited under the provisions of the Companies Act, 1956 pursuant to a certificate of incorporation dated December 3,1981 issued by the Registrar of Companies, West Bengal at Kolkata ("RoC"). The name of our Company was changed to Khadim Chain Stores Private Limited pursuant to a fresh certificate of incorporation dated April 17, 1998. The name of our Company was further changed to Khadim Chain Stores Limited, on conversion into a public limited company, pursuant to a fresh certificate of incorporation dated June 24, 2005. Subsequently, the name of the Company was further changed to Khadim India Limited. pursuant to a fresh certificate of incorporation dated August 26,2005 for further details of change in the name and Registered and Corporate Office of our Company, please see the section entitled 'History and Certain Corporate Matters' on pege 125 of the Prospectus.

Registered and Corporate Office; Kankaria Estate. 5th Floor, 6. Litte Russell Street, Kolkata 700 071; Contact Person: Abhijit Dan. Company Secretary and Compliance Officer; Tel: +91 33 4009 0501; Fax; +91 33 4009 0500; E-mail; compliance@khadims.com; Website; www.khadims.com; Corporate Identity Number: U191 29WB1981PLC034337

OUR PROMOTERS: SIDDHARTHA ROY BURMAN AND KNIGHTSVILLE PRIVATE LIMITED

Our Company has filed the Prospectus with the Registrar of Companies, Mumbai and the Equity Shares are proposed to be listed on BSE Limited ('BSE") and National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on November 14,2017

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 7.240759 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES') OF KHADIM INDIA LIMITED (OUR "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 750 PER EQUITY SHARE ("OFFER PRICE") AGGREGATING TO RS 5,430.57 MILLION. COMPRISING A FRESH ISSUE OF 666,666 EQUITY SHARES AGGREGATING TO RS 500 MILLION ("FRESH ISSUE") AND AN OFFER FOR SALE OF 6,574,093 EQUITY SHARES AGGREGAT1NG TO RS 4,930.57 MILLION, COMPRISING AN OFFER FOR SALE OF 722,000 EQUITY SHARES BY SIDDHARTHA ROY BURMAN (THE "PROMOTER SELLING SHAREHOLDER") AND 5852,093 EQUITY SHARES BY FAIRWINDS TRUSTEES SERVICES PRIVATE LIMITED, ACTING IN ITS CAPACFTY AS THE TRUSTEE TO RELIANCE ALTERNATIVE INVESTMENTS FUND - PRIVATE EQUITY SCHEME - I (THE "INVESTOR SELLING SHAREHOLDER") (THE INVESTOR SELLING SHAREHOLDER AND THE PROMOTER SELLING SHAREHOLDER ARE COLLECTIVELY, THE 'SELLING SHAREHOLDERS") (THE "OFFER FOR SALE", TOGETHER WITH THE FRESH ISSUE, THE "OFFER"), THE OFFER CONSTITUTE 40,30% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL.

Offer Price: Rs. 750 per Equity Share of Face Value of Rs. 10 each
The Offer Price is 75.00 times the Face Value
Anchor Investor Offer Price: Rs, 750 per Equity Share

Risks to Investors:

1. The two Book Running Lead Managers associated with the Offer have handled 31 public issues in the past three financial years out of which 8 public issues closed below the issue price on listing date,
2. The Price/Earnings ratio based on diluted Earnings Per Share (EPS) as per our Restated Financial Statements for the Financial Year 2017, at the upper end of the Price Band, Is as high as 42.18.
3. The average cost of acquisition of Equity Shares for the Promoter Selling Shareholder and Investor Selling Shareholder in Offer is Rs 6.55 and Rs 153.79 respectively, and the Offer Price is Rs 750.

BID/OFFER PROGRAMME
BID/OFFER OPENED ON THURSDAY, NOVEMBER 2, 2017 | BID/OFFER CLOSED ON MONDAY NOVEMBER 6, 2017
ANCHOR INVESTOR BIDDING PERIOD WAS WEDNESDAY, NOVEMBER 1, 2017

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules. 1957. as amended ("SCRR"), this is an Offer for at least 25% of the post-Offer paid-up Equity Share capital of our Company. The Offer is being made through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations") wherein 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ( "QIBs") (the "QIB Portion"), provided that our Company and the Investor Selling Shareholder in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subjed to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through an Application Supported by Stocked Amount ("ASBA") process by providing details of their respective bank account which will be blocked by the Sell Certified Syndicate Banks ("SCSBs"), Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA Process For details, please See the section entitled 'Offer Procedure" on page 277 of the Prospectus.

The Issue received 225.249 Applications for 11,611,800 Equity Shares (before technical rejections) resulting in 1.6037 times subscription. The details of the Applications received in the Issue from various categories are as under; (Before technical rejections)

Sr. No. Category No. of
Applications
No. of Equity
Shares applied
Shares Reserved
as per Prospectus
No. of times
Subscribed
Amount
(in Rs)
A RETAIL 225,116 5,521,680 2,534,266 2,1788 4,143,553,956.00
B HNI 87 118,000 1,086,114 0,1086 88,505,180.00
C QIB 29 3,545,360 1,448,152 2,4482 2,659,020,000.00
D ANCHOR 17 2426760 2,172,227 1,1172 1,820,070,000.00
TOTAL 225,249 11,611,800 7,240,759 1,6037 8,711,149,136.00

Final Demand
Asummary of the final demand as per the BSE and the NSE as on the Bid Closing Date at different Bid prices is as under:

Sr. No. Rale Shares % of Total Cumulative Total % Cumulative Total
1 745 41,700 0.43 41,700 0.43
2 746 4,940 0.05 46.640 0.48
3 747 8,520 0.09 55,160 0.57
4 748 11,940 0.12 67,100 0.69
5 749 7,060 0.07 74,160 0.76
6 750 4,538,580 46.72 4,612,740 47.48
7 9999 5,102,360 52.52 9,715,100 100.00
TOTAL 9,715,100 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on November 09,2017.
A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have Bid at cut- off or the Issue Price of  Rs 750 per Equity Share was finalized in
consultation with NSE. The category has been subscribed to the extent of 1.8374 times. The total number of Equity Shares Allotted in this category is
2,934,952 (including spilled over) Equity Shares to 146,747 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% to
Total
Total No. of
Equity Shares
applied
% of
Total
No. of  Equity
Shares Allotted
per Bidder
Ratio Total No of
Equity Shares
Allotted
20 204,101 92.65 4,082,020 75.70 20 333:500 2,719,280
40 8,210 3.73 328,400 6.09 20 2:3 109,400
60 2,701 1.23 162,060 3.01 20 2:3 35,980
80 915 0.42 73,200 1.36 20 2:3 12,200
100 1,355 0.62 135,500 2.51 20 2:3 18,060
120 566 0.26 67,920 1.26 20 2:3 7,540
140 387 0.18 54,180 1.00 20 2:3 5,160
160 126 0.06 20,160 0.37 20 2:3 1,680
180 68 0.03 12,240 0.23 20 2:3 900
200 351 0.16 70,200 1.30 20 2:3 4,680
220 63 0.03 13,860 0.26 20 2:3 840
240 113 0.05 27,120 0.50 20 2:3 1,500
260 1,330 0.60 345,800 6.41 20 2:3 17,720
1 additional share is allotted from Serial no 2 to 13 in the ratio of 12:10783 1 12:10783 12
TOTAL 220,286 100.00 5,392,660 100.00 2,934,952

B. Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non-lnstitulional Investors, who have Bid at the Issue Price of Rs 750 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.1041 times. The total number of Equity Shares Allotted in this caiegory is 113,020 Equity Shares to 78 successful applicants.
The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No, of
Equity Shares
applied
% to
Total
No, of Equity
Shares Allotted
per Bidder
Ratio Total No. of
Equity Shares
Allotted
280 30 38.46 8,400 7.43 280 1:1 8,400
300 11 14.10 3,300 2.92 300 1:1 3,300
320 2 2.56 640 0.57 320 1:1 640
340 2 2.56 680 0.60 340 1:1 680
400 3 3.85 1,200 1.06 400 1:1 1,200
500 5 6.41 2,500 2.21 520 1:1 2,500
520 1 1.28 520 0.46 600 1:1 520
600 1 1.28 600 0.53 600 1:1 600
660 6 7.69 3,960 3.50 660 1:1 3,960
680 1 1.28 680 0.60 860 1:1 680
1,000 2 2.56 2,000 1.77 1,000 1:1 2,000
1,300 1 1.28 1,300 1.15 1,300 1:1 1,300
1,320 1 1.28 1,320 1.17 1,320 1:1 1,320
1,340 1 1.28 1,340 1.19 1,340 1:1 1,340
1,400 1 1.28 1,400 1.24 1,400 1:1 1,400
2,000 3 3.85 6,000 5.31 2,000 1:1 6,000
3,860 1 1.28 3,860 3.42 3,860 1:1 3,860
4,000 1 1.28 4,000 3,54 4,000 1:1 4,000
6,000 1 1.28 6,000 5,31 6,000 1:1 6,000
6,660 2 2.56 13,320 11,79 6,660 1:1 13,320
20,000 1 1.28 20,000 17,70 20,000 1:1 20,000
30,000 1 1.28 30,000 26,54 30,000 1:1 30,000
78 100 113,020 100 113,020

C.  Allotment to QIBs (After Technical Rejections)
The Basis of Allotment to QIBs who have Bid at the Issue Price of Rs 750 per Equity Share has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 2.4482 times, of the QIB Portion. As per the SEBI ICDR Regulations. Mutual Funds were Allocated 5% of the Equity Shares of the QIB Portion available i.e. 101.029 Equity Shares and other QIBs. including Mutual Funds, were Allocated the remaining available 1,919.531 on proportionate basis, The total number of Equity Shares allotted in the QIB category is 2,020,560 Equity Shares, which were allotted to 29 successful Applicants. The category-wise details of the Basis of Allotment are as under:

CATEGORY   FIS/BANKS MF'S 1'CS VE'S AIF BODIES CORPORATES FPC TOTAL
ALLOTMENT - 883,375 - - 297,231 260,070 579,884 2,020,560

D. Allotment to Anchor Investors
The Company in consultation with the BRLMs has Allocated  2,172,227 Equity Shares to 13 Anchor Investors who have applied through 17 applications Applications at the Anchor Investor Issue Price of Rs 750 per Equity Shares in accordance with the SEBI Regulations. This represents 60 % of the QIB Category. The category-wise details of the Basis of Allotment are as under:

CATEGORY FIS/BANKS MF'S IC'S VC'S AIF BODIES CORPORATES FPC TOTAL
AILOTMENT - 1,173,400 - - - 320, 020 678,807 2,172,227

The Board of Directors of the Company at its meeting held on November 10,2017, has approved the Basis of Allotment of the Equity Shares approved by the Designated Stock Exchange, being NSE and Allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Refund Intimations are being dispatched to the address of the investors as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks for unblocking of funds and transfer to the Public Offer Account, as applicable have been issued on November 10, 2017 The Equity Shares Allotted to the successful Applicants have been credited on November 10, 2017 to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the unblocking of funds or credit of shares is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Company is in the process of filing the listing application with BSE and NSE on or before November 13, 2017. Our Company is taking steps to get the Equity Shares admitted for trading on BSE and NSE within six working days of the closure of the Offer,
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.
INVESTORS PLEASE NOTE
These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/Sole applicant, Serial number of the ASBA form, number of Equity Shares bid for. name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

LINK INT1ME INDIA PRIVATE LIMITED
C-101,247 Park, LBS Marg, Vikhroli West, Mumbai 400 083
Tel; +91 22 4918 6200; Fax; +91 22 4918 6195; E-mail: khadim.ipo@linkintime.co.in
Investor grievance e-mail: khadim.ipo@linkintime.co.in; Website; www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan: SEBI Registration No.: INR000004058

Place : Kolkata
Date  : November; 13,2017

For KHADIM INDIA LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer

Khadim India IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Khadim India IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Khadim India IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is Khadim India IPO basis of allotment status?

    The Khadim India IPO basis of allotment (published above) tells you how shares are allocated to you in Khadim India IPO and category wise demand of IPO share.

    Visit the Khadim India IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Khadim India IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Khadim India IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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