Tag: Fabindia

Fabindia appoints five bankers to raise up to $1 bn via IPO, BFSI News, ET BFSI

Banking & Finance

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New Delhi: Ethnic wear retailer Fabindia Overseas is gearing up for its initial stake sale as it has hired five investment banks to raise up to $1 billion through the primary offering, said sources.

According to people familiar with the matter, the fabric maker has hired ICICI Securities, SBI Capital Markets, JP Morgan, Credit Suisse and Nomura as investment bankers for its planned IPO.

Fabindia is the latest player intending to capitalize on the buoyant investor sentiments in the primary and secondary market as benchmark indices are at record highs.

The company is expected to file the draft paper with market regulator Sebi in next two months, the sources added. It is expected to seek a valuation of about $2 billion and sell 25-30 per cent stake in the IPO.

Azim Premji’s private equity fund, PremjiInvest, is among investors who will sell partial stakes in the company. Infosys co-founder Nandan Nilekani and his wife Rohini Nilekani are also shareholders.

Over three dozen companies have hit the primary market so far this year, raising more than Rs 60,000 crore.



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SBI Card partners with Fabindia to launch Fabindia SBI Card

Banking & Finance

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SBI Card, the country’s second-largest credit card issuer and Fabindia, a retail platform for a wide range of handcrafted products by the artisans of the country, have joined hands to launch an exclusive co-branded contactless credit card — Fabindia SBI Card.

The card is designed with curated benefits and privileges to offer a rewarding shopping experience to its premium customers and comes in two variants — Fabindia SBI Card SELECT and Fabindia SBI Card.

Speaking about the partnership, Rama Mohan Rao Amara, Managing Director & Chief Executive Officer, SBI Card, said in a statement “We are delighted to have Fabindia as our partner to bring unique value proposition to our affluent and premium consumer segment. Introduction of the new Fabindia SBI Card further bolsters our premium portfolio, reinforces our commitment to enable our customers to embrace digital payments and contribute to the country’s digital economy.”

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