Khadim India Limited -Issue subscribed 1.90 times

Khadim India Limited which had tapped the capital markets with its simultaneous fresh issue of Rs 50 crs and an offer for sale of 65,74,093 shares was just about subscribed. The issue was subscribed 1.90 times overall.
The price band was Rs 745-750 and the PE ratio at the top end of the band at 42.18 times its March 2017 EPS. Very clearly the sweet spot PE of 43-50 which is the norm for almost all issues over the last few months was not quite successful in this case.

The issue was subscribed 2.44 times by QIB’s, a mere 0.18 times by HNI’s and 2.33 times by retail investors. There were 2.43 lakh applications which meant that the issue on basis of lots was subscribed 1.92 times.

Khadim had earlier allotted 21,72,227 shares to 13 anchor investors comprising of 17 entities. The highest allocation was made to Franklin India Smaller Companies Fund of 2.8 lakh shares which was 12.89% of the anchor investment.

Full details of the allotment bucket wise are given below:-

Bucket Size Shares applied for Times oversubscribed
QIB 1450839 3545640 2.44
HNI 1086785 193520 0.18
Retail 2535832 5919840 2.33
Total 5073006 9659000 1.90
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