Ajanta Shoes India Pvt Ltd, a third-generation footwear company, is getting ready to launch its initial public offering (IPO) as part of a major expansion plan. The announcement came during a series of dealer meetings held across cities, including Kolkata, where top distributors from West Bengal and Uttar Pradesh discussed the company’s growth roadmap.
Set to celebrate its 70th anniversary in January 2026, Ajanta Shoes is aiming for a bold target of Rs 1,000 crore (~USD 120 Million) in revenue by 2028.
To meet this goal, the company is chasing a 35% compound annual growth rate (CAGR) through a mix of product diversification, market expansion, and digital growth.
Ajanta currently holds a 40% market share in the slippers segment in West Bengal. It now plans to enter the value, mass and premium segments with new offerings like women’s footwear and athleisure shoes.
The company is also strengthening its retail presence in West Bengal and expanding into high-potential markets like Uttar Pradesh, Madhya Pradesh, and the southern states.
This will be supported by a multi-channel strategy including Multi-Brand Outlets (MBOs), Exclusive Brand Outlets (EBOs), and a growing e-commerce platform.
Ahead of Durga Puja, Ajanta will launch India’s first smart shoes. These were recently introduced in Dubai for Rs 15,000 (~USD 170) and will be priced at Rs 9,000 (~USD 105) in India.
“Every year we introduce new products before Durga Puja. This year, we are launching smart shoes.”
Subrata Banik, Chairman, Ajanta Shoes
“Our smart shoes will deliver 40% better data than the best smartwatches in the market. The shoes will also support customizable gestures.”
Sagnik Banik, Managing Director, Ajanta Shoes
“This is more than a business plan. It is a promise, to our people, our partners, and to the future of footwear.”
Vipul Kansal, Chief Executive Officer – Group Head, Ajanta Shoes
The smart shoes will offer features like footstep detection, music playback, Google Maps access, and even a camera.
Source – India TV
