Markets

FabIndia IPO: promoters to gift shares

Lifestyle retail brand FabIndia is planning an initial public offering (IPO) that would raise up to ₹4,000 crore, and in a novel approach, the company's promoters also plan to gift more than seven lakh shares to artisans and farmers.

On Saturday, the company filed the Draft Red Herring Prospectus (DRHP) with SEBI for the offer that will include fresh issue of shares worth up to ₹500 crore. Besides, there will be an Offer For Sale of up to 2,50,50,543 shares.

Market sources said the IPO is expected to be worth about ₹4,000 crore.


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Printable version | May 22, 2022 10:02:20 am | https://www.thehindu.com/business/markets/fabindia-ipo-promoters-to-gift-shares/article38310630.ece