Khadim India IPO

To offer 55 lakh shares via issue

Footwear retailer Khadim India will come out with an initial public offer of 55 lakh shares to set up a new central distribution centre, retail stores and improve infrastructure. The company is likely to do a pre-IPO placement.

The company plans to spend about Rs 31.4 crore on exclusive footwear retail stores, Rs 42.43 crore on lifestyle retail stores and Rs 9.06 crore on its distribution centre.

Khadim reported net profit of Rs 2.9 crore on sales of Rs 149 crore in the year ended March 2007.