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Published
Sep 9, 2021
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FabIndia plans to raise up to $1 billion in IPO

Published
Sep 9, 2021

Ethnic wear and lifestyle brand FabIndia is gearing up for its initial public offering and has hired five investment banks with plans to raise up to $1 billion (Rs 6,652.8 crore).

A casual look by Fabindia's new brand FabNu as the business continues to expand its product lines - Fabindia- Facebook


FabIndia is expected to file its draft IPO paper with market regulator Sebi over the course of the coming two months, sources told the Economic Times. It is expected that the business will seek a valuation of around $2 billion for the IPO and sell a stake of between 25% and 30%.
 
Ahead of its IPO, FabIndia has hired investment bankers ICICI Securities, SBI Capital Markets, JP Morgan, Credit Suisse and Nomura, according to the sources. Aiming to capitalise on buoyant investor sentiments to raise its significant investment goal, FabIndia is making decisive moves towards the offering. 

FabIndia counts entrepreneur Azim Premji's private equity fund PremjiInvest as an investor and the business is expected to sell a partial stake as part of the IPO. Other FabIndia shareholders include Infosys co-founder, Nandan Nilekani, and his wife, Rohini Nilekani.
 
The FabIndia brand and chain of stores is owned and run by FabIndia Overseas Private Limited. The business is located in New Delhi and was originally founded by John Bissell in 1960. The business has a network of stores across India, some of which feature interactive experience centres.

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