Khadim India lists at 3% discount
14/11/2017 12:16
Footwear retailer Khadim India made a quite debut on the Bombay Stock Exchange by listing at Rs 727, down 3 per cent against its initial public offer (IPO) price of Rs 750 per share. The price band has been fixed at Rs 745-750 per share and at the upper end, the public issue would fetch up to Rs 543 crore.

The company, which had got overwhelming response for its Rs 543 crore initial public offering that was subscribed over 1.9 times earlier this month, was listed at its issue price of Rs 730 per share on the National Stock Exchange.

After making a tepid debut, shares of company fell sharply, touching an intra-day highs and lows of Rs 740.00 and Rs 706.15 on the BSE.

In the day’s trade so far, as much as 3.22 lakh shares have changed hands over the counter on BSE.

“The equity shares of Khadim India Ltd (Scrip Code: 540775) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange.

The company intends to use net proceeds from the issue would be utilised towards payment of loans and general corporate purposes. Axis Capital and IDFC Bank are the book running lead managers to the issue.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,918.76, down 114.80 points, or 0.35 per cent, at 12:30 hours.