The initial public offering of Fabtech Technologies is set to open for public bidding today, September 29. The company aims to raise Rs 230 crore from its IPO.
The maiden public issue of the turnkey engineering solutions provider for pharmaceuticals, biotech and healthcare industry will close on October 1.
Fabtech Technologies IPO GMP
Ahead of listing, the shares of the company were trading with nearly 10 percent grey market premium (GMP) over the IPO price, according to data on Investorgain.
According to IPO Watch, the unlisted shares of the company were trading with nearly 18 percent GMP over the issue price.
Fabtech Technologies IPO: Key things to know
The Mumbai-based company aims to raise Rs 230 crore through an entirely fresh issue of 1.2 crore equity shares at a price band of Rs 181-191 per share.
Investors can bid for a minimum of 75 shares, requiring an investment of Rs 14,325, and in multiples thereafter. The allotments are likely to be finalized by October 3, and the shares are scheduled to be listed on stock exchanges on October 7.
Proceeds from the IPO will be used for funding the company’s working capital requirements, pursuing inorganic growth initiatives through acquisitions, and general corporate purposes.
Fabtech Technologies offers comprehensive start-to-finish solutions encompassing designing, engineering, procurement, installation and testing of select pharmaceutical equipment for a wide range of customers.
Till June 2024, the company had completed 35 projects across countries, including Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, and the UAE.
Unistone Capital is the sole book-running lead manager to the issue.
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