Subscribe to Khadim India : Way2wealth

The other IPO which also received huge responses were Happiest Minds Technologies and Chemcon Speciality Chemicals, which was subscribed 150.98 times and 149.3 times respectively. Interestingly, both these stocks have seen bumper listing gained over 100 percent. Let's see how the IPO subscription and listing happened in 2020 so far, considered only IPOs issue size over Rs 100 crore.

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26 Aug, 2025 12:21

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Khadim India Limited is one of the leading footwear brands in India, with a two-pronged focus on retail and distribution of footwear. It is second largest footwear retailer in India in terms of number of exclusive retail stores operating under the ‘Khadim’s’ brand, with the largest presence in East India and one of the top three players in South India. It also has largest footwear retail franchise network in India. The core business objective of the company is to create an identity as an ‘affordable fashion’ brand, catering to the entire family for all occasions. As of Mar 2017, Khadim India Ltd operates in 23 states and 1 union territory in India. The company is led by promoter, CMD, Siddhartha Roy Burman with 34 years of experience and corporate Promoter is Knightsville Private Limited.

Valuations: At the offer price band of `745-750/- the issue is commands a P/E of ~43.6x its FY17 estimated diluted EPS of 17.18/-& 2.2x it post issue market cap /sales. We believe the stock is currently pricing in all near-term triggers and hence are NEUTRAL on the issue.

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