Khadim posted a revenue of about Rs550 crore in fiscal 2016 and an earnings before interest, taxes, depreciation and amortization of Rs60 crore. Mumbai: Fairwinds Private Equity (formerly Reliance Equity Advisors) is set to start discussions to sell its stake in home-grown footwear retailer Khadim India Ltd, valuing the brand at Rs1,000 crore, said two persons with knowledge of the development. Ltd, Mochi Shoes Ltd and Relaxo Footwears Ltd.Emails sent to Ishani Ray, chief financial officer at Khadim India, and a spokesperson at JM Financial on Tuesday went unanswered. In value terms, the Indian footwear sector was estimated at Rs50,000 crore in 2015, which included domestic market of Rs32,000 crore and an export market of Rs18,000 crore. Fairwinds PE was launched in 2013 by Ramesh Venkat, former chief executive officer at Reliance Equity Advisors, the PE arm floated by Anil Ambani’s Reliance Group.

Source: Mint September 27, 2016 17:48 UTC