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Indian shoe retailer Khadim's 5.43 billion rupees IPO subscribed 1.9 times

[MUMBAI] Footwear retailer Khadim India Ltd's initial public offering of shares to raise up to 5.43 billion rupees (S$114.5 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 US$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.

REUTERS

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