FabIndia preps for IPO, seeks ESG investors without ticking 'green boxes'

Company is in talks with ESG funds and will make decisions on its investor lineup after stock market regulator clears its first-time share sale.

The initial public offering of FabIndia Ltd., a retailer of clothing and furniture inspired by traditional Indian crafts, is a natural fit for global investors focused on environmental, social and governance criteria, according to its chief financial officer.

“We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in an interview with Bloomberg News. “This is not that we have done something specially for ESG or ticked those green boxes.” 

The 66-year-old company is in talks with ESG funds and will make decisions on its investor lineup after the Indian stock