Khadim India Ltd

Khadim India Limited is one of the leading footwear brands in India, with a twopronged focus on retail and distribution of footwear. The Company is the second largest footwear retailer in India in terms of number of exclusive retail stores operating under the Khadims brand, with the largest presence in East India and one of the top three players in South India. The Company also has the largest footwear retail franchisee network in India. The companys retail footprint is spread across 23 states and 1 union territory. As of September 2018, the company had 785 Khadims branded retail stores and a wide network of 509 distributors selling to multibrandoutlets (MBOs) across India. Khadim India was incorporated in 1981, and through the next several years, the Company was involved in wholesaling and distribution of branded basic utility footwear, and the company had forayed into the retail business in 1993.The Company operates through two distinct business verticals, retail and distribution, each with its predominantly own customer base, sale channels and product range. The Retail business operates through its exclusive retail stores catering to middle and upper middle income consumers in metros (including minimetros) and Tier I Tier III cities, who primarily shop in high street stores and malls, for fashionable products. The Distribution business operates through a wide network of distributors catering to lower and middle income consumers in metros and Tier I Tier III cities, who primarily shop in multibrandoutlets (MBO) for functional products. The Company is also engaged in the business of institutional sales and export of footwear.The Company is promoted by Siddhartha Roy Burman. With 34 years of experience of working with the Company, Siddhartha Roy Burman has been instrumental in the growth of the business. The corporate Promoter is Knightsville Private Limited.Khadim India Limited was originally incorporated as a private limited company with the name S.N. Footwear Industries Private Limited on December 3, 1981. The company acquired and took over the business of M/s S.N. Industries as a going concern with all its assets and liabilities.In 1993, the company commenced retail business through company owned and operated (COO) outlets for footwear products.The name of the company was changed to Khadim Chain Stores Private Limited to align the name of the company with the brand on 17th April, 1998.In 1999, the company commenced retail operations in South India through four owned retail outlets with two in Chennai and one each in Bengaluru and Secunderabad.In 2002, the company commenced manufacturing operations for footwear and leather products at its manufacturing facility at Kasba Industrial Estate, West Bengal.In 2005, the company was accredited with ISO 9001:2000 certification for its manufacturing facility at Kasba Industrial Estate, West Bengal. During the year under review, a total of five entities were merged with the company pursuant to the order of the Calcutta High Court dated June 22, 2005. The name of the Company was changed to Khadim Chain Stores Limited, due to conversion into a public limited company on 24th June, 2005.In 2010, the company commenced distribution operations at its central distribution centre at Bantala, West Bengal.In 2013, the company was accredited with ISO 9001: 2008 certification with respect to its manufacturing facility at Kasba Industrial Estate, West Bengal.In 2014, the company commenced ecommerce retailing operations through its ecommerce website, while also utilising online market place(s).In 2015, the company expanded its retail business to include the shopinshop retailing model. The name of the Company was changed to Khadim India Limited, to reflect the comprehensive nature of the business conducted by the Company on 26th August, 2005. In 2016, the company was accredited with ISO 9001:2015 certification with respect to its manufacturing facility at Kasba Industrial Estate, West Bengal.The company came out with an initial public offer during the period from 2 November 2017 to 6 November 2017. The IPO was a combination of fresh issue of Rs 50 crore and offer for sale (OFS) of 65.74 lakh equity shares by selling shareholders comprising up to 7.22 lakh equity shares by promoter Siddhartha Roy Burman and 58.52 lakh equity shares by Fairwinds Trustees Services, acting in their capacity as the trustee to Reliance Alternative Investments Fund Private Equity Scheme I. The IPO was priced at Rs 750 per share. The stock debuted on BSE at Rs 727 on 14 November 2017, a discount of 3.06% to the IPO price of Rs 750.