Fabtech Technologies IPO Soars with Over 2x Subscription

The initial public offering (IPO) of Fabtech Technologies Ltd attracted significant attention, with subscription rates hitting 2.03 times on its final bidding day. This high level of interest underscores the company's strategic appeal in the pharmaceuticals, biotech, and healthcare sectors.

The Rs 230 crore IPO witnessed bids for an impressive 2,45,22,750 shares against the 1,20,60,000 shares initially on offer, according to figures released by the National Stock Exchange (NSE). Retail Individual Investors (RIIs) demonstrated robust participation, with their portion being subscribed 2.08 times, while Qualified Institutional Buyers (QIBs) saw a 2.02 times subscription rate.

Priced between Rs 181 and Rs 191 per share, the IPO represents a fresh issue of up to 1.2 crore equity shares. The funds raised will bolster Fabtech's working capital, support inorganic growth through acquisitions, and fulfill general corporate needs. Unistone Capital served as the sole book-running lead manager for this offering.

(With inputs from agencies.)