What is the IPO pricing that Fabindia will be looking at?
Answer
Answer
Fabindia has been representative of ethnic clothing and furniture retailing for a long time in India. It is now a company that is more than 60 years old. Now it is expected that Fabindia will file for an IPO to raise a sum of $500 million or Rs.3,750 crore. Fabindia has the backing of Premji Invest, the family office of the Wipro founder Azim Premji.
Fabindia is looking at indicative valuations of $2 billion for the company. The issue is will predominantly be an offer for sale to give exit to early shareholders, but there could be a fresh issue component too. Fabindia showcases Indian handloom textiles to the world, with wares that are largely sourced from villages.