The IPO (initial public offering) of the Kolkata-based footwear retailer Khadim\u2019s India opened on Thursday, 2 November for bidding. Khadim\u2019s India has expected to raise about Rs 543.06 crore at the upper end of the price band, PTI reported. The share sale will remain open for three days bidding process starting 2 November to 6 November. There are three Listed companies in footwear retail namely Bata, Relaxo and Liberty. Compared to Bata, the largest retailer with 1,900 stores, Khadim\u2019s store count is almost half, out of which about 190 are company-owned stores. Although Khadim\u2019s has a pan-India presence, the footwear retailer has most of its outlets in the Eastern part of India. We take a look at six key points about Rs 543 crore public offer. IPO details The public issue of Khadim\u2019s India comprises a fresh issue of equity shares totalling up to Rs 50 crore and an offer for sale of up to 65.74 lakh equity shares. The company has set a price band of Rs 745-750 per equity share of a face value Rs 10 each which implies that floor price is 74.5 times and cap price is 75 times of the face value. The company's promoter Siddhartha Roy Burman would sell 7.22 lakh equity shares, while Fairwinds Trustees Services Pvt Ltd would offer 58.52 lakh shares, PTI reported. Axis Capital and IDFC Bank are the book running lead managers while Link Intime is the registrar to the issue. Bids can be made for a minimum of 20 equity shares and in multiples of 20 shares thereafter. Anchor investors Khadim's India raised Rs 163 crore from anchor investors yesterday after the company's IPO\u00a0committee finalised allocation of 21.72 lakh shares to more than 10 anchor investors at a price of Rs 750 per equity share.\u00a0Franklin India, UTI Mutual Fund, HSBC Global Investment Fund and IDFC Mutual Fund are among the anchor investors, according to a regulatory filing. IPO proceeds The selling shareholders will be entitled to the proceeds of the offer for sale of their respective portion of the equity shares after deducting their portion of the offer related expenses and relevant taxes thereon. The company will not receive any proceeds from the offer for sale.\u00a0The net proceeds from the fresh issue are proposed to be utilised towards prepayment or scheduled repayment of all or a portion of term loans and working capital facilities availed by the company and for other general corporate purposes. Company profile Khadim\u2019s is a footwear retailer brand in India. According to Technopak Report, Khadim\u2019s is the second-largest footwear retailer in India in terms of the\u00a0number of exclusive retail stores operating under the \u2018Khadim\u2019s\u2019 brand, with the largest presence in East India and one of the top three players in South India, in fiscal 2016. Business profile Khadim\u2019s was established in 1965 in Chitpur by Lt. Sri Satya Prasad Roy Burman. In 1993 Khadim\u2019s forayed into retailing and as on 30 June 2017, it has 853 retail store outlets in across 23 states and one union territory in India. In 2013, Fairwinds had invested Rs 90 crore for a 34% stake in the company while the remaining 66% stake is held by the promoters. Financials Khadim\u2019s India reported a rise of 21.83% in the restated net profit to Rs 30.75 crore for the financial year ended 31 March 2017. The company has posted a profit of Rs 25.24 crore in the previous fiscal. The total revenue of company grew by 16.09% to Rs 625.54 crore for the corresponding period.