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Fabindia considers raising up to $1 billion via initial public offer

Fabindia, a retailer of artisan products and lifestyle items, is considering raising up to $1 billion through an initial public offering (IPO), according to people in the know of the development

Topics
Fabindia | IPOs | fashion retail brands in india

Press Trust of India  |  New Delhi 

With experience centres inside its stores and a new loyalty programme, Fabindia is looking to engage more deeply with millennial customers
Established in 1960, Fabindia mainly sources its products from villages helping to provide and sustain rural employment in India.

Fabindia, a retailer of artisan products and lifestyle items, is considering raising up to USD 1 billion through an initial public offering (IPO), according to people in the know of the development.

The company said it considers various capital-related options from time to time and take advice from its bankers. However, it declined to confirm the development.

The company is believed to be in talks with several investment banks, including SBI Capital Markets, ICICI Securities and JPMorgan, to manage its IPO, said the industry people close to the development.

is expected to submit its draft IPO documents with markets regulator Sebi by the end of November, they added.

The company is expected to seek a valuation of USD 2 billion and sell around 25-30 per cent stake through the IPO.

Its existing shareholders, such as Azim Premji's private equity fund PremjiInvest, may sell partial stakes in the company.

Infosys co-founder Nandan Nilekani and his wife Rohini Nilekani are also shareholders of the company.

When contacted, a Group spokesperson said, "The company considers various capital-related options from time to time. We also take advice from our bankers. At the right stage, we will discuss any plans with the board of directors and be guided by their decision. We have nothing further to comment on this subject at this stage."

Established in 1960, mainly sources its products from villages helping to provide and sustain rural employment in India. According to reports, they are currently produced by over 40,000 artisans and craftspeople across India.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sat, September 11 2021. 00:33 IST
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