FabIndia IPO Targets ESG Investors Without Ticking ‘Green Boxes’
- Billionaire-backed firm says artisan supplier network is ESG
- More than half of employees to own 15% stake in company
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The initial public offering of FabIndia Ltd., a retailer of clothing and furniture inspired by traditional Indian crafts, is a natural fit for global investors focused on environmental, social and governance criteria, according to its chief financial officer.
“We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in an interview with Bloomberg News. “This is not that we have done something specially for ESG or ticked those green boxes.”