Khadim is a very well know name in eastern India, reputed name in footwear making. It has 260 retail outlets across 22 states. The company got into value-lifestyle retailing, through its brands Khadim's Khazana. It has three lifestyle retail stores under the name Egaro. These stores offer garments, footwear, jewellery, gold, groceries etc.

This Kolkatta based company is promoted by SP Roy Burman and started operations when he took over KM Khadim & Co in 1965 and subsequently merged six group companies in 2004. It achieved sales of Rs 149.45 crore in fiscal 2007, up from Rs 131.53 crore in 2006. Bottomline over this period, increased from Rs 2.75 crore to Rs 3 crore.

The company was in the news in 2001 when one of its promoters, Partha Roy Burman, was abducted by some militants. He has since then left the company and given up his directorship. His brother, Siddhartha Roy Burman, is the managing director, and their father, SP Roy Burman, is the chairman and a whole-time director.

The company is now planning to raise Rs.95.38 crore. It plans to spend Rs.31.34 crore on setting up the 39 exclusive footwear retail stores, Rs.42.43 crore on Egaro, the lifestyle retail stores and Rs.9.06 crore on its distribution centre.  Khadim plans to set up 74 exclusive stores in 2007-08, out of which, 39 will be owned by the company and 35 by exclusive dealers. And apart from the three existing Egaro lifestyle retail stores, retail space for three additional outlets at Asansol, Burdwan and Sodepur has already been booked. These stores are expected to be operational by 2008-09.

To fund it, the company is raising Rs 33 crore through a term loan and Rs 10.60 crore through a preferential allotment to outsiders. The promoters, who currently own 90% stake, will dilute their holdings in the company to 61.94%, post - IPO.