Indian ethnic wear and artisan product retailer, Fabindia is the next in line in the IPO bonanza currently buoying Indian investor sentiments. The company, established in 1960, is looking to raise around $1 billion from the markets this autumn. It is expected to file its prospectus in November.
To know more about the IPO and all its nitty-gritties, read on!
FabIndia seeks to raise $1 billion from the markets in November.
They have proposed this move to raise capital. Before this news broke, the company was investigating various capital options, it said.
To manage its IPO, the company was on the lookout for various banks. Presently they have settled on 5 banks. These are:
Moreover, the company seeks a valuation of $2 billion and wishes to sell around 25-30% of its stake.
If you are wondering whether to invest in FabIndia or not, here are some of the company’s strengths.
With investment sentiments mostly positive, it is expected that Fabindia’s IPO will have many takers. It looks to capitalise on the present investor mood. The company is seeking to sell shares in a mixture of primary and secondary share sales. Moreover, as the IPO valuation has not been decided as yet, the issue size could be about $500 million.
To know more about Fabindia, read up on it here.
PremjiInvest is selling partial stakes in Fabindia.
Investors in Fabindia are Lighthouse Funds, Axis Alternative Asset Management, Kotak Securities, PremjiInvest, Nandan Nilekani and his wife (co-founders of Infosys).
The IPO will put Fabindia’s valuation at $2 billion.
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