What is your take on the upcoming Fabindia IPO?

Fabindia will raise Rs.4,000 crore via IPO, comprising of a fresh issue of Rs.500 crore and an offer for sale or OFS of Rs.3,500 crore. In all, 250.51 lakh shares will be offered as part of the OFS and two of the promoters will gift 7.75 lakh shares to farmers and artisans out of their own quota. Company plans to use fresh issue proceeds to redeem NCDs and prepay loans taken. This will be India’s largest ethnic brand IPO and awaits SEBI approval.