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FPJ Editorial: Rain Woes As Usual
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FPJ Editorial: Rain Woes As Usual
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The initial public offering (IPO) of FabIndia, the leading lifestyle brand and retailer, has been called off due to the unstable market conditions.
FabIndia, a leading Indian retailer and lifestyle brand, has cancelled its planned INR 4000 crore ($536 million) initial public offering (IPO) due to ongoing market volatility. The company stated that the decision to withdraw was due to "current market conditions [that] were not seen to be conducive for listing a company of our size." The Indian benchmark NSE Nifty 50 stock index has fallen over 4.32% so far this year, contributing to the decision to cancel the IPO.