Fabtech Technologies IPO Set to Launch in Late September

Fabtech Technologies, specializing in engineering solutions for the healthcare sector, is launching an IPO priced at Rs 181-191 per share. Opening on September 29, this IPO aims to raise over Rs 230 crore, funding working capital and potential acquisitions. Unistone Capital will manage the issue.

Fabtech Technologies, a leader in turnkey engineering solutions for the pharmaceuticals, biotech, and healthcare industries, announced a price band of Rs 181-191 per share for its much-anticipated initial public offering (IPO) expected to generate over Rs 230 crore.

The Mumbai-based company's IPO will be available for public subscription starting September 29 and will close on October 1. This IPO involves an entirely new issue of up to 1.2 crore equity shares valued at Rs 230 crore at the higher end of the price band.

The funds from the IPO are earmarked for advancing the company's working capital needs, facilitating inorganic growth through acquisitions, and covering general corporate expenses. Since its inception, Fabtech Technologies has successfully executed 35 projects across multiple nations and collaborates with Unistone Capital as the sole lead manager.

(With inputs from agencies.)