Fabtech Technologies IPO sees 203% subscription on Day 3; check latest GMP

Fabtech Technologies IPO sees 157% subscription on Day 3 so far; check latest GMP

The initial public offer of Fabtech Technologies saw 203% subscription on the third day of bidding on October 1.

The IPO received bids for 2,44,92,750 shares against 1,20,60,000 shares on offer, as per NSE data.

The portion reserved for Qualified Institutional Buyers (QIBs) saw 202% subscription and non-institutional investor portion got 196% subscription. Retail Individual Investors (RIIs) quota got subscribed 208%.

Fabtech Technologies IPO Details

The Mumbai-based company's Rs 230-crore IPO will conclude on October 1. The price band has been set at Rs 181-191 per share for the IPO.

The company's IPO is entirely a fresh issue of up to 1.2 crore equity shares worth Rs 230 crore at the upper end of the price band.

Proceeds from the IPO will be used for funding the working capital requirements of the company, 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.

Fabtech Technologies GMP

According to InvestorGain, the Grey Market Potential (GMP) of Fabtech Technologies was flat on October 1, 5 pm.