Categories: Business

Fabindia plans to increase up to $ 1 billion from the IPO

New Delhi: Ethnic Wear and Lifestyle Retailer Fabindia hopes to increase up to $ 1 billion from the proposed IPO (IPO).
The company that has only been headquartered in Delhi is likely in talks with several investment banks, including the capital market of SBI, ICICI Securities and JP Morgan, to manage the IPO, say three people who are familiar with their developments.
As one of the newest players who bet on surging investor sentiment that has captured the primary and secondary markets, companies, which compete with market leaders such as Khadi and the Village Industry Commission (KVIC), among several others, can submit a draft paper with market regulators Sebi in a few months.
Fabindia is expected to sell shares in the IPO with a ratings of around $ 2 billion.
Existed stakeholders are expected to sell partial bets in the company.
Apart from the Infosys Co-Founder Nandan Nilekani and his wife Rohini Nilekani, a premises of investority, among others who held a peg in the company.
In 2016, the Premesi Invest bought around 8% of the shares in Fabindia from L-sleeve Personal Equity Conglomerate Louis Vuitton Moet Hennessy (LVMH) for around RS 360 Crore, assessing the company around Rs 4,500 Crore.
When contacted, Fabindia spokesman said, “The company considers a variety of capital related choices from time to time.
We also accept advice from our bankers.
At the right stage, we will discuss any plan with the board of directors and guided by their decisions.
We don’t Having nothing else to comment on this subject at this stage.
“However, a senior executive told Ti that William Bissell, chairman in Fabindia, was the tip of blowing.
“The IPO is something that Bissell himself looked very sharp,” said the person.
With more than three dozen companies that raise the RS 60,000 Crore from the primary market so far, the development comes when Fabindia wants to expand operations quickly throughout India.

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