The company’s promoters also plan to gift more than seven lakh shares to artisans and farmers.
Despite a not so encouraging performance of newly listed IPOs on the domestic bourses, most brokerages have given a ‘subscribe’ rating to the Adani Wilmar IPO.
As the polarising debate gathered steam, Abhijit Prasad, an advertising professional, said his industry is trying to show a world 'you want to live in', one that corrects inequality.
FabIndia was accused of "defacing" the Hindu festival of Diwali by naming its festive collection Jashn-e-Riwaaz (celebration of tradition).
Brands must mind their own 'business' and shouldn't stray onto the terrain of social or religious re-engineering, believing niche thoughts must be spread widely to wake up the masses.
Chairman of FKCCI, Perikal Sundar, felt companies have to maintain a balance in their advertisements and avoid controversies.
FabIndia was trolled on social media for what some said was unnecessarily uplifting secularism and Muslim ideologies in a Hindu festival, saying it hurt their religious sentiments.
He added that all religious festivals are “emotional and deeply respected by members of their community.