Ethnic wear retailer Fabindia appoints i-bankers for $1-B initial share sale

New Delhi-based Fabindia Overseas Pvt Ltd has hired five investment banks to help the ethnic wear retailer raise between USD 750 million and USD 1 billion. For the public issue, the company has hired investment banks ICICI Securities, SBI Capital Markets, JP Morgan, Credit Suisse and Nomura. Fabindia may sell approximately 25-30% stake to the public in a mixture of primary and secondary share sales.