Da Milano Introduces ‘WOOBA’
Footwear retailer Khadim India has received capital markets regulator Sebi’s approval to raise an estimated ` 550-650 crore through an initial public offering. The company had approached Securities and Exchange Board of India (Sebi) with its draft red herring prospectus in July and received its ‘observations’ on September 13, which is necessary for any company to launch their public offer. Khadim India’s initial public offer (IPO) comprises the fresh issue of equity shares aggregating up to ` 50 crore and an offer for sale of up to 6,574,093 equity shares by the existing shareholders. Net proceeds from the issue would be utilised towards payment of loans and for general corporate purposes. According to sources, the company is expected to garner an estimated ` 550-650 crore through the initial share-sale offer. Axis Capital and IDFC Bank are the books running lead managers to the issue. The company was incorporated in 1981 and for several years it was involved in wholesaling and distribution of basic utility footwear. It entered into the retail business in 1993. As on March 31, 2017, it has 829 retail store outlets in 24 states, according to Khadim India’s website. Continuing its experiment and innovation with leather, House of Da Milano introduces ‘WOOBA’, a contemporary leather accessories brand appealing to the fashion conscious, effervescent and forward looking youth seeking quality products at pocket friendly prices. Echoing a playful panache that reflects beautifully in the range of handbags and wallets, ‘WOOBA’ boasts with innovative styles and avant-garde designs in a range of bright and beautiful colors. Using only the finest materials from around the world, each product is crafted with impeccable attention to detail, creating a truly unique accessory piece. This ‘Made in California’ heritage, combined with the most innovative technological applications, pave the way for Wooba’s competitive edge into the future.