The Rs 540-crore IPO of Khadim garnered 14 per cent subscription the first day. Most of the bids came from retail investors. It had raised Rs 160 crore from anchor investors on Wednesday. The IPO has offer for sale by promoters and private equity players worth Rs 493 crore and fresh fundraising worth Rs 50 crore.            

 Khadim is a footwear brand with a strong presence in eastern part of the country. At the top end of the price band, the IPO is valued at 44 times its 2016-17 earnings.