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Fabindia Aims To Raise Up To $1 Billion Through Initial Public Offer Route

Fabindia Aims To Raise Up To $1 Billion Through Initial Public Offer Route

Fabindia is planning to lift as much as $1 billion by the IPO route

Fabindia, a retailer of artisan merchandise and life-style objects, is contemplating elevating as much as $1 billion by an preliminary public providing (IPO), based on folks within the know of the event. The firm mentioned it considers varied capital-related choices on occasion and take recommendation from its bankers. However, it declined to substantiate the event.

The firm is believed to be in talks with a number of funding banks, together with SBI Capital Markets, ICICI Securities and JPMorgan, to handle its IPO, mentioned the trade folks near the event.

Fabindia is predicted to submit its draft IPO paperwork with markets regulator Sebi by the tip of November, they added.

The firm is predicted to hunt a valuation of $2 billion and promote round 25-30 % stake by the IPO. Its current shareholders, equivalent to Azim Premji’s personal fairness fund PremjiInvest, might promote partial stakes within the firm.

Infosys co-founder Nandan Nilekani and his spouse Rohini Nilekani are additionally shareholders of the corporate.

When contacted, a Fabindia Group spokesperson mentioned, “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, Fabindia primarily sources its merchandise from villages serving to to offer and maintain rural employment in India. According to stories, they’re at present produced by over 40,000 artisans and craftspeople throughout India.

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