FabIndia Ltd plans to raise up to ₹4,000 crore through an initial public offer.

The offer comprises a fresh issue of up to ₹500 crore and an offer for sale of 25,050,543 equity shares by existing investors/ shareholders.

The company’s promoters also plan to gift more than 7 lakh shares to artisans and farmers.

The company said this is India’s first ESG IPO because it has empowered over 50,000 artisans; approximately 64 per cent of artisans are women, who are demonstrating a pathway to empowerment to others in their communities.

“The company also works with over 2,200 farmers directly and over 10,300 farmers through associates to create sustainable agricultural practices; Fabindia has taken steps to create a non-toxic farming culture by supporting farmers in getting Global Organic Certification,” the company said.