Fabindia will file draft documents for its IPO before the end of December to raise Rs 4,000 crore.The firm’s shareholders approved the IPO proposal at a general meeting.
Big plans
Fabindia plans to raise Rs 250 crore in fresh capital to expand its store network. Several investors will sell part of their stakes as well, a media report said. This will bring the total size of the public offering to Rs 3,800-4,000 crore. Fabindia’s existing investors include PI Opportunities Fund, Bajaj Holdings and Investment Ltd. Fabindia has recently entered new product categories like home, lifestyle, personal care, and organic food.
