Indian shoe retailer Khadim's $84 mln IPO subscribed 1.9 times

Footwear retailer Khadim India Ltd’s initial public offering of shares to raise up to 5.43 billion rupees ($84 million) was subscribed 1.9 times by the last day of the sale on Monday, stock exchange data showed.

Investors bid for about 9.7 million shares, compared with about 5 million shares on offer, according to data as of 1345 GMT.

Companies in India have raised more than $9 billion from IPOs so far in 2017, making it a record year for such sales.

Axis Capital and IDFC Bank were the bookrunners for the Khadim IPO.