Gear up for another rollercoaster ride starting January 2022! The Indian stock markets will continue to be abuzz with activity as several Indian companies are lining up their initial public offers for the new year. For example, sources say that ethic wear giant Fabindia may launch its IPO early next year. For more details regarding this story, read on!
Highlights of Fabindia’s IPO Proposal
- Sources close to the story say that Fabindiaplans to file preliminary documents for an IPO totaling $500 million, that is, Rs. 3,770 crores.
- The company is likely to submit its draft red herring prospectus early next year.
- ThisIPO is likely to be a pure offer of sale with investors seeking to dilute or exit the company.
- Fabindiais considering a valuation of $2 billion.
This company is yet to decide the listing dates and size of the IPO. Therefore, more details regarding this IPO will be available with the progress of time.
Fabindia was founded in 1960 by John Bissell. The aim was to showcase India’s handlooms to the world. Fabindia gets a lot of its products from the villages of India. This company connects the rural with the urban by linking the 55,000 rural producers to the urban markets. It also runs a school with nearly 500 students.
It aims to support the customers, artisans, and designers inspired by the culture and heritage of India.
Despite the failure of Paytm’s listing, various Indian companies are not shying away from launching their IPOs. Paytm’s shares took a 35% dip in the 2 days of listing.
Meanwhile, Star Health and Allied Insurance Co.’s IPOs last week were reduced as 100% of the shares were not subscribed. Hence, on this note, individuals who wish to invest in Fabindia’s IPO need to do so after a careful and thorough study of the company.
Moreover, you can invest via Angel One’s website if you should wish to purchase these shares when they are listed.
Frequently Asked Questions
- Who are some of the backers of Fabindia?
Ans. Some of the investors of Fabindia are:
- Azim Premji
- The family division of Wipro Ltd.
- What is the former name of Fabindia?
Ans. The former name of Fabindia is Fabindia Overseas Pvt. Ltd.
- Who is Fabindia’s CEO?
Ans. The CEO of Fabindia is Viney Singh.
- What are some details of Fabindia’s schools?
Ans. Fabindia School is a co-ed private school. It runs classes from preschool to class 12 affiliated with CBSE.