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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 ₹750.00 per share . The lot size for an application is 20. The minimum amount of investment required by an retail is ₹14,900 (20 shares). 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 Date | November 2, 2017 to November 6, 2017 |
| Listing Date | November 14, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹745 to ₹750 per share |
| Issue Price Final | ₹750 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 72,40,759 shares (aggregating up to ₹543.06 Cr) |
| Fresh Issue | 6,66,666 shares (aggregating up to ₹50.00 Cr) |
| Offer for Sale | 65,74,093 shares of ₹10 (aggregating up to ₹493.06 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,72,98,531 shares |
| Share Holding Post Issue | 1,79,65,197 shares |
Khadim India IPO offers total 72,40,759 shares. Out of which 36,20,379 (50.00%) allocated to QIB, 14,48,152 (20.00%) allocated to QIB, 10,86,114 (15.00%) allocated to NII, 25,34,266 (35.00%) allocated to RII and 21,72,227 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
Khadim India IPO opens on November 2, 2017, and closes on November 6, 2017.
| IPO Open Date | Thu, Nov 2, 2017 |
| IPO Close Date | Mon, Nov 6, 2017 |
| Tentative Allotment | Fri, Nov 10, 2017 |
| Initiation of Refunds | Mon, Nov 13, 2017 |
| Credit of Shares to Demat | Mon, Nov 13, 2017 |
| Tentative Listing Date | Tue, Nov 14, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 6, 2017 |
Investors can bid for a minimum of 20 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
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 Company Khadim India IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[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...
| 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 |
| BSE Listing Group | B |
Khadim India Ltd.
Kankaria Estate, 5th Floor,
6, Little Russell Street,
Kolkata 700 071
Kolkata, West Bengal
Phone: +91 33 4009 0501
Email: compliance@khadims.com
Website: https://www.khadims.com/
MUFG Intime India Pvt.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 72,40,759 equity shares of the face value of ₹10 aggregating up to ₹543.06 Crores. The issue is priced at ₹750 per share. The minimum order quantity is 20.
The IPO opens on November 2, 2017, and closes on November 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 November 2, 2017 and closes on November 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 Monday, November 13, 2017. Check the Khadim India IPO allotment status.
The Khadim India IPO listing date is on Tuesday, November 14, 2017.
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