Ethnic wear retailer Fabindia has filed draft red herring papers with SEBI to raise up to Rs.4000 crores via initial public offerings. The IPO comprises a Fresh Issue of Rs.500 crores & an Offer for Sale of 25,050,543 equity shares offered by promoters. The company has investment from Azim Premji’s firm PremjiInvest. The company has a valuation of more than Rs 20,000 crores.
Offer
for
Sale
by
Promoters:
The
offer
for
sale
consists
of
400,000
equity
shares
by Bimla
Nanda
Bissell
and 375,080
equity
shares
by Madhukar
Khera
as
per
the
DRHP
said.
Read Also: Fabindia DRHP Document
New Delhi-based Fabindia is an umbrella multi-category store brand with a unique ethnic, artisanal positioning across the categories of fashion, lifestyle, home decor, and personal care. The company is focusing on handcrafted, indigenous products. Fabindia links around 50,000 craft-based rural producers to modern urban markets, thereby creating a base for skilled, sustainable rural employment, and preserving India’s traditional handicrafts in the process. Fabindia’s products are natural, craft-based, contemporary, and affordable. 60 years old Fabindia has more than 300 branded outlets and 70 organic India stores across India. The company source products from over 2200 farmers directly and deals with over 10000 farmers through their associates.
The book-running lead managers of the IPO are ICICI Securities, Credit Suisse Securities (India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, and Equirus Capital. The shares are proposed to be listed on NSE and BSE.
Follow IPO Watch for the latest IPO news and their reviews, also keep following us on Twitter, Facebook, and Instagram. For our latest videos, subscribe to our YouTube channel.
