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KHADIM LTD. IPO The Initial Public Offer of footwear retailer Khadim Ltd. aimed to raise 543 crore. On the first day of its share sale it witnessed an overall subscription of 14%. At the end of the day the portion of shares reserved for Institutional Investors did not see any subscription but the shares of retail investors and high net worth individuals were subscribed 28% and 1% respectively. Khadim Ltd. charged 745-750 per share as premium. The company issued fresh shares worth 50 crores. The amount received from the issue will be utilized fully or partially for the repayment of loan or to fund the working capital requirement of the company.

According to Siddhartha Roy Burman, the company hoped to sell 722000 shares which if sold at a premium would fetch 54 crores. Fair Winds which currently holds 33% stake in the company, invested 9 crores in 2013. On the second day of the share issue the Initial Public Offering was subscribed 45%. According to NSE reports, against the total issue size of 5073006 shares the IPO received bids for 2273800 shares. On the final day of the offering, the company witnessed an overall subscription of 1.89 times. The shares which were issued for retail investors and high net worth individuals were subscribed 2.3 times and 18% respectively. The portion which were set aside for Institutional Investors were subscribed 2.45 times.

The stock market debut of Khadim Ltd. was weak because it ended 8.2% lower at 688.5 per share after listing on the stock exchange at 727 rupees which is a 3.07% discount from its issue price. According to experts from Motilal Oswal Securities the issue was priced at discount compared to the valuation of its competitors Bata Ltd, Relaxo Ltd, and Liberty shoes Ltd. The company raised around 157.5 crores by selling shares to 13 institutional investors. Some of the investors who participated included HSBC Global Investment Fund, Birla Sunlife Insurance, IDFC Mutual funds, Franklin India among others.