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Indian shoe retailer Khadim's $84 mln IPO subscribed 1.9 times
November 6, 2017 / 2:19 PM / 12 days ago

Indian shoe retailer Khadim's $84 mln IPO subscribed 1.9 times

MUMBAI, Nov 6 (Reuters) - Footwear retailer Khadim India Ltd’s initial public offering of shares to raise up to 5.43 billion rupees ($84 million) was subscribed 1.9 times by the last day of the sale on Monday, stock exchange data showed.

Investors bid for about 9.7 million shares, compared with about 5 million shares on offer, according to data as of 1345 GMT.

Companies in India have raised more than $9 billion from IPOs so far in 2017, making it a record year for such sales.

Axis Capital and IDFC Bank were the bookrunners for the Khadim IPO. ($1 = 64.6650 Indian rupees) (Reporting by Sankalp Phartiyal; Editing by Adrian Croft)

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