Final Hours! Fabtech Tech IPO closes today: 252x subscription, GMP up 94%

Fabtech Technologies IPO: The unlisted shares of Fabtech Technologies commanded a solid premium in the grey market on the last day of the subscription window for its initial public offering (IPO).

 

The Rs 24.74 crore SME offering of Fabtech Technologies, which opened for subscription on Friday, January 3, 2025, is set to conclude today, Tuesday, January 7, 2025. Fabtech Technologies IPO, priced in a range of Rs 80-85 per share with a lot size of 1,600 shares, has been oversubscribed by 252.45 times, till around 12:09 PM, as of Friday, January 3, 2025. 

 

Meanwhile, sources tracking unofficial market activities revealed that the unlisted shares of Fabtech Technologies were trading at Rs 165 apiece, reflecting a grey market premium (GMP) of Rs 80 or 94.12 per cent over the upper end of the issue price of Rs 85.

 

As the public offering closes for subscription today, January 7, the basis of allotment for Fabtech Technologies IPO shares is expected to be finalised tentatively on Wednesday, January 8, 2025. Successful allottees will receive Fabtech Technologies shares in their demat accounts tentatively by Thursday, January 9, 2025.

 

Shares of Fabtech Technologies are expected to list on the BSE SME platform tentatively on Friday, January 10, 2025.

 

Maashitla Securities is the registrar for the issue, while Vivro Financial Services is the sole book-running lead manager.

 

Notably, the public offering comprises an entirely fresh issue of 32,64,000 equity shares. In its red herring prospectus (RHP), the company stated that it will use the proceeds from the net issue to meet long-term working capital requirements, for the proposed acquisition of equity shares of Kelvin Air Conditioning and Ventilation Systems, and for general corporate purposes.

 

About Fabtech Technologies

Fabtech Technologies is engaged in manufacturing and providing design-to-validation solutions for pre-engineered and pre-fabricated modular panels and doors used in building cleanrooms for the pharmaceutical, healthcare, and biotech sectors. The company offers comprehensive services, including initial design, engineering, manufacturing, quality assurance, timely delivery, installation, commissioning, validation, and certification.