Latest News
-
Tech Mahindra Q4 Results Preview: Revenue May Fall, But Margins Seen To Expand; To Announce Dividend -
Rs. 7.75/Share Dividend: Record Date In Due Course; Buy The TATA Group Stock? -
Trade Call: Day Trading Stock Picks By Sumeet Bagadia of Choice Broking On Thursday, 25th April -
Swing Trading Guide: 3 Stock Picks By VLA Ambala On Thursday, 25th April -
HCL Tech Q4 Results, Dividend: EBIT Margins May Drop; Deal Wins, FY25 Guidance To Be Watched -
1:10 Split Coming Up: Crorepati FMCG ITC Turns Rs 1,50,000 To Rs 1.2 Crore; Makes Big Announcement; BUY? -
Biggest Ever Stock Splits, 49 New Shares On Existing 1 Share; FMCG Makes Big Announcement Before Splitting -
Gold Prices India; Biggest Jump In 24-Carat In 55 Days; Know Tax Rates On Profits On Phsyical Gold -
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees
Khadim India's IPO Subscribed Fully On Last Day
The IPO of the footwear major was subscribed fully on the last day of the issue.
The Kolkata based shoe maker opened its IPO issue of Rs. 543 crore with a price band of Rs. Rs745-750 per share. As of 2.21 pm on the last bidding day today, the issue was subscribed fully at 1.02 times. The data by NSE shows that the issue received bids for 50,73,006 shares for the issue size of 50,73,006 shares.
The share sale by the third largest footwear company includes fresh shares issue worth Rs. 50 crore. Fairwinds Private Equity sold 5.85 million shares worth Rs. 438 crore while promoter Siddhartha Roy plans offloading 7,22,000 shares worth Rs. 54 crore.
The proceeds from the issue are likely to be used for pre-payment or repayment of all or some of the company's ongoing term loans. Additionally, the funds shall also be used towards various corporate expenses.
"Considering other listed footwear manufacturers such as Bata, RelaxoBSE -2.52 %, Mirza (Red Tape), etc., and their valuations, we believe Khadim with a strong brand, franchise network and good growth potential warrants a Subscribe" said analysts.
Goodreturns.in
