Khadim India files IPO prospectus with SEBI

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Mumbai, July 3 (IANS) Leading footwear brand Khadim India on Monday said it has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI for its initial public offering (IPO).

According to the company, the IPO will comprise of a fresh issue aggregating up to Rs 500 million and an offer for sale of up to 6,574,093 equity shares by the “selling shareholders”.

“The equity shares will have a face value of Rs 10 each. The issue will be on book-building basis and the price band decided later,” the company said in a statement.

“The net proceeds from the fresh issue are proposed to be utilised towards prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the company and for general corporate purposes.”

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As of March 31, the company operated 829 ‘Khadim’s’ branded exclusive retail stores across 23 states and one union territory in India, through their retail business vertical.



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