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Khadim to introduce IPO by mid-August

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Khadim India Ltd, one of the country’s largest footwear manufacturer and retailer, has announced that its initial public offering (IPO) will hit the markets by mid-August 2008. The company plans to raise around Rs 5,500,000 equity shares through the book-building route.

The company also plans to invest around Rs 96.7 crore to open around 151 exclusive stores, of which 45 will be company-owned. It also plans to launch a lifestyle retail store and central distribution centre in Kolkata.

Khadim presently operates around 11 across the country and plans to set up around 22 this fiscal. Retail space for three additional outlets at Asansol, Burdwan and Sodepur (all three in West Bengal) has already been signed up, and these stores will be operational by mid-2009, the company informed.

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