Footwear retailer Khadim India has filed draft papers with capital markets regulator Sebi to raise an estimated Rs 550-650 crore through an initial public offering, reported PTI. The initial public offer (IPO) comprises of a fresh issue of equity shares aggregating up to Rs 50 crore and an offer for sale of up to 6,574,093 equity shares by the existing shareholders.
Net proceeds from the issue would be utilised towards pre-payment of loans and and for general corporate purposes. According to media reports, the company is expected to garner an estimated Rs 550-650 crore through the initial share-sale offer. Axis Capital and IDFC Bank are the book running lead managers to the issue.