New Delhi, Nov 14 (PTI) Shares of footwear retailer
Khadim India made a sluggish debut at the bourses today and
ended with a sharp loss of over 8 per cent against the issue
price of Rs 750.
The stock listed at Rs 727, down 3 per cent against the
issue price on BSE. During the day, it lost 9.69 per cent to
Rs 677.30. It finally ended at Rs 688.50, reflecting a decline
of 8.2 per cent.
On NSE, shares of the company plunged 8.15 per cent to
settle at Rs 688.85.
In terms of equity volume, 5.31 lakh shares of the
company were traded on BSE and over 28 lakh shares changed
hands on NSE during the day.
The company’s market valuation stood at Rs 1,236.90
Khadim India’s Rs 543-crore IPO was subscribed 1.90 times
during November 2-6. The price band for the offer was fixed at
Rs 745-750 per share.
The IPO comprised fresh issue of equity shares
aggregating up to Rs 50 crore, besides an offer for sale of up
to 65,74,093 shares by existing shareholders.
The net proceeds from the issue are to be utilised
towards payment of loans and general corporate purposes.
Axis Capital and IDFC Bank were the book running lead
managers to the issue.
Incorporated in 1981, the company entered into retail
business in 1993. At the end of June this year, it had 853
retail store outlets in different parts of the country.
This is published unedited from the PTI feed.