Da Mi­lano In­tro­duces ‘WOOBA’

Shoes & Accessories - - The Month That Was -

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.

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