Khadim India disappoints on debut
DSIJ Intelligence / 14 Nov 2017
The stock of Khadim India listed on NSE at Rs. 723.00 per share on Tuesday, at a discount of 3.6 per cent to its IPO issue price of Rs 750.
The stock of Khadim India listed on NSE at Rs. 723.00 per share on Tuesday, at a discount of 3.6 per cent to its issue price of Rs 750. The stock closed at Rs. 680.50 per share, which is down by 6.78% per cent to its issue price.
Khadim India's IPO listing follows a trend of disappointing listing during this year. The company's Rs 543 crore IPO was subscribed 1.90 times. The company plans to use net proceeds of the issue for payment of loans and other general corporate purposes.
The footwear company was incorporated in 1981 and had 853 retail store outlets pan-India as of June 2017. Its listed peer include Bata, Relaxo, Mirza International and Liberty Shoes.
On Tuesday, Relaxo Footwears closed at Rs. 564.10 per share, up 0.56 per cent, Liberty Shoes was at Rs. 251.45, up 1.04 per cent, Bata India was at Rs. 783.30, down 0.68 per cent, Mirza International was at Rs. 158.00, down 0.66 per cent on BSE.
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