Fabtech Technologies' IPO Receives Full Subscription Success

The IPO of Fabtech Technologies Ltd, an engineering solutions provider for the healthcare sector, was fully subscribed by the second day. The Rs 230-crore offering saw substantial interest from various investor categories. Proceeds will support the company's growth initiatives and working capital needs.

The initial public offering (IPO) of Fabtech Technologies Ltd, a prominent turnkey engineering solutions provider for the pharmaceuticals and biotech sectors, was fully subscribed on the second day of its share sale on Tuesday.

According to NSE data, the Rs 230-crore IPO received bids for 1,21,11,225 shares compared to the 1,20,60,000 shares available. Retail Individual Investors (RIIs) subscribed 1.20 times over, whereas Qualified Institutional Buyers (QIBs) and non-institutional investors recorded subscriptions of 94% and 76%, respectively.

Fabtech Technologies set a price band of Rs 181-191 per share for this entirely fresh issue of 1.2 crore equity shares, expected to conclude on Wednesday. The funds are earmarked for working capital, acquisitions, and corporate requirements. Unistone Capital is the lead manager of the issue.