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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The financial battering of the last 18 months and the absence of a sizeable e-commerce play do little to deter the ethnic wear retailer from going ahead with its IPO.
Editor's note: William Nanda Bissell must be one confident entrepreneur. His company, ethnic wear and lifestyle retailer Fabindia, just announced a public issue of shares to raise Rs 4,000 crore. Most of the shares in the issue will be sold by Bissell, his family and other existing shareholders, with just a fraction constituting new shares, the proceeds of which will go to benefit the company. Nothing amiss about that except Fabindia has had one of its worst years financially in 2020-21 and reported losses in the first six months of the current financial year as well. While it is the season for loss-making startups to go public, Fabindia is anything but such a company. It’s got a legacy of over six decades and has witnessed rapid growth until 2019-20, when the pandemic threw a spanner in the works. One would think Bissell would have waited for a better time to take his company public as his shares would have fetched better value when operations were profitable again. Especially, since the company doesn’t need the money right away. Yet, the company has filed …
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
