Fabtech Technologies IPO shares list at 90% premium over IPO price on BSE SME

Fabtech Technologies IPO shares list at 90% premium over IPO price on BSE SME

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Fabtech Technologies shares listed on the stock exchange with a 90 percent premium over its IPO price on January 10, following a robust subscription demand of over 700 times to its over 27-crore issue in its 3-day bidding period between January 3 - 7 in the primary market.

The shares of Fabtech Technologies Cleanrooms Ltd were listed at Rs 161.50 per share on the BSE SME platform, a strong premium of 90 percent from its IPO price. The company's market valuation post listing of shares stood at Rs 198.96 crore. The SME IPO worth Rs 27.74 crore had a priced band in the range of Rs 80 - 85 per share.

The pre-engineered and pre-fabricated modular panels and doors manufacturer caters to pharmaceutical, healthcare, and biotech sectors. The issue comprised of solely fresh issue of 32.64 lakh shares.

The IPO proceeds of the Fabtech Technologies will be utilised mainly for company's long-term working capital requirements, and proposed acquisition of equity shares of Kelvin Air Conditioning and Ventilation Systems.

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The Mumbai-based company manufactures and provides design-to-validation solutions of pre-engineered and pre-fabricated modular panels and doors for building cleanrooms for pharmaceutical, healthcare & biotech sectors. Cleanroom solutions, which are tailor made as per customers’ requirements, comprises of wall panels, view panels, doors, risers, ceiling panels, covings, heat ventilation air conditioning (HVAC) system, epoxy flooring and electrification works.

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