Fabtech Technologies IPO: Biopharma Company’s Shares Make Flat Debut On NSE and BSE

Fabtech Technologies IPO: Fabtech Technologies Ltd shares listed on the NSE and BSE on October 7. Shares of the biopharma engineering company listed with no gains. On the NSE, Fabtech Technologies shares listed at Rs 192 per share with a premium of 0.77 per cent against the issue price of Rs 191 apiece. On the other hand, shares of the company listed at Rs 191 apiece with no gains on the BSE.

Retail Individual Investors (RIIs) who received a minimum of one lot of Fabtech Technologies shares would have made a modest gain of Rs 75 per lot (Rs 192 - Rs 191 x 75). After shares of Fabtech Technologies listed on the exchanges, 8.55 lakh shares of the company were traded and the company’s total market capitalization stood at Rs 853.46 crore.

Fabtech Technologies IPO: Details

Fabtech Technologies IPO was worth Rs 230.35 crore. Fabtech Technologies’s issue consisted of a fresh issuance of 12.1 million shares. Fabtech Technologies IPO price band was set between Rs 181 to Rs 191 per share.

The minimum lot size for application for retail investors was fixed at 1 lot comprising 75 shares, which aggregated to an investment of Rs 14,325. Fabtech Technologies IPO was oversubscribed 2.03 times during the three-day bidding window which opened on September 29 and closed on October 1. The issue received bids for 24.52 million shares cumulatively compared to the 12.06 million shares offered for subscription.

Non-institutional investors booked their quota in Fabtech Technologies IPO, 1.97 times in the three-day bidding window. Retail individual investors booked their quota in Fabtech Technologies IPO, 2.08 times. Qualified institutional buyers booked the issue 2.02 times. Employees of the company booked the issue 2.01 times.

Fabtech Technologies plans to use the money raised via the public issue for funding its working capital requirements, funding acquisitions and for other general corporate purposes.

Fabtech Technologies is an Indian company which is engaged in the biopharma engineering sector. The company designs and delivers cleanroom facilities, modular systems, and customized engineering solutions for the pharmaceutical, biotech, and healthcare industries.

At the time of writing, Fabtech Technologies shares traded at Rs 183.5 apiece down by 3.93 per cent on the NSE. Fabtech Technologies shares traded at Rs 182.5 apiece down by 4.45 per cent on the BSE.