Khadim India files IPO prospectus with SEBI

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.

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.

--IANS
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