FabIndia to launch Rs 4000 crore IPO

New Delhi,23/1:  The country’s IPO market is out. One after the other, many companies are bringing their initial public offering ie IPO. Now FabIndia, a company associated with traditional dress, home decor and lifestyle products, is also preparing to bring an IPO. The company plans to raise Rs 4,000 crore through IPO. For this, the company applied to the market regulator Securities and Exchange Board of India (SEBI) on Saturday.

According to the draft Red Herring Prospectus (DRHP), new shares worth Rs 500 crore will be issued in this offer. Apart from this, Fab India will also offer for sale 2,50,50,543 old shares.

Market sources said that the company is expected to raise Rs 4,000 crore from this IPO. There is also a plan to gift 7 lakh shares of the promoters of the company to the artisans and farmers closely related to the business of the company. As a token of gratitude to certain farmers and artists associated with the company or its subsidiaries, the two promoters of FabIndia, Bimal Nanda Bisel and Madhukar Kheda, would be given 4,00,000 shares and 3,75,080 shares respectively, the draft resolution on the IPO said. want.


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