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Khadim India Ltd’s initial public offering was subscribed 0.12 times so far on the second day of the share sale on Friday.
According to data available with NSE as of 3.10 pm, the IPO received bids for 6,06,780 shares shares against the total issue size of 5,073,006 shares. The IPO will close on November 6.
On the first day of the offer, the IPO witnessed an overall subscription of 14%. The portion of shares reserved for institutional investors did not see any subscription, while those set aside for retail investors and high net-worth individuals were subscribed 28% and 1%, respectively.
Kolkata-based Khadim India had fixed a price band of Rs 745-750 for its ₹550-650 crore initial public offering.
The offer comprised fresh issue of equity shares aggregating ₹50 crore and an offer-for-sale of up to 65.74 lakh shares by the existing private equity partner Fairwinds.
The company’s promoter Siddhartha Roy Burman planned to sell 7.22 lakh equity shares, while Fairwinds Trustees Services Pvt Ltd 58,52,093 scrips.
Net proceeds from the issue would be utilised towards payment of loans and for general corporate purposes. Axis Capital and IDFC Bank are the book running lead managers to the issue.
The company was incorporated in 1981 and for several years it was involved in wholesale and distribution of basic utility footwear. It had entered into the retail business in 1993.
(With inputs from PTI)
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