Footwear maker and retailer Khadim India Ltd. has raised Rs 157.5 crore by selling shares to institutional investors as part of its anchor book allocation today ahead of its initial public offering.
The shares were allocated to 13 anchor investors at the upper end of the price band at Rs 750 apiece. India's second largest footwear brand by exclusive retail stores will sell shares at Rs 745-750 per share in the IPO.
Franklin India, UTI Mutual Fund, HSBC Global Investment Fund, Nomura Singapore Ltd., Birla Sunlife Insurance and IDFC Mutual Fund are among the leading international and domestic investors who subscribed to the allotment.
Axis Capital and IDFC Bank are managing the offer.
Also Read: Here's All You Need To Know About The Khadim India's IPO
Anchor investors are large institutions that are allotted shares ahead of an initial public offering to boost demand.
The Kolkata-based company is looking to raise Rs 543 crore by offering 72.4 lakh shares. While Fairwinds Trustees Services Pvt Ltd., part of the Reliance Alternative Investments Fund, will sell its 33.83 stake to raise Rs 439 crore, managing director Siddhartha Roy Burman will also sell shares worth Rs 54 crore. The promoter holding will come down to 60 percent post listing.
The company will also issue new shares to repay debt.
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