Bookbuilding IPO | ₹543 Cr | Listed at BSE, NSE | Thu, Nov 2, 2017 - Mon, Nov 6, 2017
Khadim India IPO is a book build issue of ₹543.06 crores. The issue is a combination of fresh issue of 0.07 crore shares aggregating to ₹50.00 crores and offer for sale of 0.66 crore shares aggregating to ₹493.06 crores.
Khadim India IPO bidding started from Nov 2, 2017 and ended on Nov 6, 2017. The allotment for Khadim India IPO was finalized on Nov 10, 2017. The shares got listed on BSE, NSE on Nov 14, 2017.
Khadim India IPO price band is set at ₹750 per share. The lot size for an application is 20. The minimum amount of investment required by an retail is ₹15,000 (20 shares) (based on upper price). The lot size investment for sNII is 14 lots (280 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (1,340 shares), amounting to ₹10,05,000.
Axis Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Khadim India IPO RHP for detailed Information.
IPO Open
Thu, Nov 2, 2017
IPO Close
Mon, Nov 6, 2017
Issue Price
₹750 per share
Market Cap (Pre-IPO)
₹1,347.39 Cr
| IPO Date | 2 to 6 Nov, 2017 |
| Listed on | Tue, Nov 14, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹745 to ₹750 |
| Issue Price | ₹750 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 72,40,759 shares (agg. up to ₹543 Cr) |
| Fresh Issue | 6,66,666 shares (agg. up to ₹50 Cr) |
| Offer for Sale | 65,74,093 shares of ₹10 (agg. up to ₹493 Cr) |
| Share Holding Pre Issue | 1,72,98,531 shares |
| Share Holding Post Issue | 1,79,65,197 shares |
| BSE Script Code / NSE Symbol | 540775 / KHADIM |
| ISIN | INE834I01025 |
Khadim India IPO comprises a total issue size of 72,40,759 shares. Out of which, 36,20,379 (50.00%) are allocated to QIB, 10,86,114 (15.00%) allocated to NII 25,34,266 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 36,20,379 | 50.00% | NA |
| − Anchor Investor Shares Offered | 21,72,227 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 14,48,152 | 20.00% | NA |
| NII (HNI) Shares Offered | 10,86,114 | 15.00% | NA |
| Retail Shares Offered | 25,34,266 | 35.00% | 1,26,713 |
| Total Shares Offered | 72,40,759 | 100.00% |
Investors can bid for a minimum of 20 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹15,000 |
| Retail (Max) | 13 | 260 | ₹1,95,000 |
| S-HNI (Min) | 14 | 280 | ₹2,10,000 |
| S-HNI (Max) | 66 | 1,320 | ₹9,90,000 |
| B-HNI (Min) | 67 | 1,340 | ₹10,05,000 |
Khadim India IPO raises ₹162.92 crore from anchor investors. Khadim India IPO Anchor bid date is November 1, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 1, 2017 |
| Shares Offered | 21,72,227 |
| Anchor Portion (₹ Cr.) | 162.92 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 10, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 8, 2018 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by our Company. | 40.00 |
| 2 | General corporate purposes | 7.49 |
The Khadim India IPO is subscribed 1.9 times on November 6, 2017 7:30:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.45 | 14,50,389 | 35,45,640 |
| NII | 0.18 | 10,86,785 | 1,93,520 |
| Retail | 2.34 | 25,35,832 | 59,19,840 |
| Total | 1.9 | 50,73,006 | 96,59,000 |
| 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 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 14.00 |
| 2 | Brokerage and selling commission for Syndicate Members, Registered Brokers, RTAs and CDPs, commission/processing fee for SCSBs and Bankers to the Offer | 1.53 |
| 3 | Registrar to the Offer | 0.23 |
| 4 | Other advisors to the Offer | 3.00 |
| 5 | Listing fees, SEBI filing fees, book building software fees | 2.29 |
| 6 | Printing and stationary | 1.53 |
| 7 | Advertising and marketing expenses | 3.59 |
| 8 | Miscellaneous | 1.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹750.00 | ₹750.00 |
| Open | ₹727.00 | ₹730.00 |
| Low | ₹677.30 | ₹680.00 |
| High | ₹740.00 | ₹739.65 |
| Last Trade | ₹688.50 | ₹688.85 |
Lead Manager Reports
Khadim India IPO is a main-board IPO of 72,40,759 equity shares of the face value of ₹10 aggregating up to ₹543 Crores. The issue is priced at ₹750 per share. The minimum order quantity is 20.
The IPO opens on Thu, Nov 2, 2017, and closes on Mon, Nov 6, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Khadim India IPO using UPI as a payment gateway. Zerodha customers can apply in Khadim India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Khadim India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Khadim India IPO opens on Thu, Nov 2, 2017 and closes on Mon, Nov 6, 2017.
Khadim India IPO lot size is 20, and the minimum amount required for application is ₹15,000.
You can apply in Khadim India IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Nov 13, 2017. Check the Khadim India IPO allotment status.
The Khadim India IPO listing date is on Tue, Nov 14, 2017.
