Fabindia submits draught documents for an initial public offering (IPO)

25 January, Mumbai: 2022

Fabindia, a renowned ethnicwear and lifestyle store, has submitted draft documents to the Securities and Exchange Board of India (SEBI) to conduct an initial price offer (IPO).

According to a report, the IPO is a combination of primary and secondary issuance of shares, with the OFS (offer for sale) component accounting for the bulk of the IPO to allow partial exit for numerous investors.

KEY HIGHLIGHTS

• Fabindia is a renowned ethnicwear and lifestyle store chain
• It has submitted draft documents to SEBI to conduct an IPO
• IPO is a combo of primary & secondary issuance of shares, with the OFS
• The fresh issue portion is up to Rs. 500 crore 

It was allegedly started when filing with the regulator that the fresh issue portion is up to Rs. 500 crore. The promoter group, Premji Invest, Bajaj Holdings and Investment Ltd., the Nilekani family, Kotak India Advantage Fund, and others are among the selling shareholders.

The funds from the IPO will be utilized for debt reduction, voluntary redemption of nonconventional debentures (NCDs) issued by the firm, and general corporate objectives, according to Moneycontrol.

Manyavar owner Vedant Fashions (supported by Kedaara Capital) recently raised Rs. 1,014 crores through an IPO, whereas Go Colors, a renowned women's bottom wear brand, recently raised Rs. 1,014 crores through an IPO.

Fabindia focuses on eco-friendly and traditional Indian lifestyle items.

It has a wide range of lifestyle items in the categories of fashion and accessories, home and lifestyle, personal care, and organic food. It has a 309-store and-experience network across India, as well as online platforms and applications. 

**The statistics mentioned in the above articles have been sourced from Money Control.

CREDITS: MONEY CONTROL  

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