Fabtech Technologies IPO Off to a Strong Start with 70% Subscription on Day One

The initial public offering (IPO) of Fabtech Technologies Ltd, a key player in turnkey engineering solutions for pharmaceuticals and healthcare, garnered significant attention as it achieved a 70% subscription rate on its opening day.

According to data from the National Stock Exchange (NSE), the IPO received bids for 84,20,325 shares against the 1,20,60,000 shares available. The qualified institutional buyers (QIBs) quota was 77% subscribed, with the retail individual investors (RIIs) making bids for 70%. Non-institutional investors showed a 46% subscription rate.

Fabtech Technologies, which has set its IPO price band between Rs 181-191 per share, is seeking to raise Rs 230 crore from this offer. The funds will be channeled into working capital requirements, acquisitions for growth, and other corporate purposes. Unistone Capital is leading the IPO as the sole book-running manager.