The ethnic apparel and lifestyle retailer FabIndia intends to raise money through a share sale with the help of its private equity backers.
With a valuation of between Rs 11,000 and Rs 12,000 crore, the company is trying to raise between Rs 1,100 and Rs 1,200 crore. The money will be used for working capital requirements and debt repayment. FabIndia had previously submitted a draught prospectus for an IPO, but the preparations have been delayed due to market turbulence.
The business is attempting to acquire money through a secondary share offering from new investors. In the future fundraising round, shareholders including PremjiInvest and Lighthouse Funds are anticipated to sell shares. Due to FabIndia’s use of eco-friendly manufacturing techniques, the company has reported significant interest from investors, particularly those who are concerned with sustainability.
