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.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.