Khadim India, India’s the third largest footwear retailer, has chalked out a mega expansion plan at an investment of Rs 100 crore. Under this plan, the company is planning to set up 74 exclusive retail footwear stores, three lifestyle stores in addition to strengthen its distribution network which would entail a sum of Rs 73 crore.
Infrastructure and IT related development would require an investment of Rs 21 crore.
Currently, the company owns 290 retail stores of footwears and 3 lifestyle stores mainly in eastern India.
It has already tied up with banks for term loans to the tune of Rs 32 crore while pre-issue preferential allotment of shares accrued about 11 crore. The company is entering the capital market by the end of this month to raise Rs 55 crore.