New Delhi, Nov 14 (PTI) Shares of footwear retailerKhadim India made a sluggish debut at the bourses today andended with a sharp loss of over 8 per cent against the issueprice of Rs 750.
The stock listed at Rs 727, down 3 per cent against theissue price on BSE. During the day, it lost 9.69 per cent toRs 677.30. It finally ended at Rs 688.50, reflecting a declineof 8.2 per cent.
On NSE, shares of the company plunged 8.15 per cent tosettle at Rs 688.85.
In terms of equity volume, 5.31 lakh shares of thecompany were traded on BSE and over 28 lakh shares changedhands on NSE during the day.
The company's market valuation stood at Rs 1,236.90crore.
Khadim India's Rs 543-crore IPO was subscribed 1.90 timesduring November 2-6. The price band for the offer was fixed atRs 745-750 per share.
The IPO comprised fresh issue of equity sharesaggregating up to Rs 50 crore, besides an offer for sale of upto 65,74,093 shares by existing shareholders.
The net proceeds from the issue are to be utilisedtowards payment of loans and general corporate purposes.
Axis Capital and IDFC Bank were the book running leadmanagers to the issue.
Incorporated in 1981, the company entered into retailbusiness in 1993. At the end of June this year, it had 853retail store outlets in different parts of the country.
PTI SUMSBT.
This is unedited, unformatted feed from the Press Trust of India wire.