The initial public offering of Fabtech Technologies Cleanrooms that opened for subscription on Jan. 3 was booked close to 20 times on Friday led by demand from retail investors.
The grey market premium for Fabtech Technologies Cleanrooms IPO soared after the SME issue was fully booked on Day 1 and has continued to remain constant as the bidding for the IPO resumes.
Here's all you need to know about Fabtech Technologies Cleanrooms IPO.
Fabtech Technologies Cleanrooms IPO: Key Details
The Fabtech Technologies Cleanrooms IPO is entirely a fresh issue of 32.64 lakh shares aggregating to Rs 24.74 crore with no offer-for-sale component. The issue will remain open for bidding between Jan. 3 and Jan. 7.
Share allotment for the IPO is likely to be done on Tuesday, Jan. 8, with successful bidders getting their credit of shares to Demat accounts on Jan. 9. Refunds will be initiated to non-allottees on the same day.
Shares of Fabtech Technologies Cleanrooms are likely to be listed on BSE SME on Friday, Jan. 10.
Fabtech Technologies IPO price band has been set between Rs 80 and 85 per share. Retail investors are required to apply for a minimum of 1,600 shares in one lot, taking the investment amount to Rs 1,36,000 for a single lot application.
The company has reserved up to 50% of the net issue for qualified institutional buyers and 35% for retail investors. The remaining 15% of the shares offered for subscriptions are allocated to non-institutional investors.
Maashitla Securities Pvt. is the registrar for the Fabtech Technologies IPO, while Vivro Financial Services Pvt. has been appointed as its book-running lead manager. Rikhav Securities Ltd. is the market maker for this SME IPO.
Fabtech Technologies Cleanrooms IPO Day 2 Subscription Status
The IPO was subscribed 170.85 times on Monday
Qualified Institutions: 7.48 times
Non-Institutional Buyers: 172.09 times
Retail Investors: 263.43 times
Fabtech Technologies Cleanrooms IPO GMP Today
The grey market premium of Fabtech Technologies IPO was Rs 100 as of 03:59 p.m. on Jan. 7, according to InvestorGain. This projects a listing gain of 94.12%. Shares of Fabtech Technologies are anticipated to list at Rs 165 at the upper end of the price band.
The GMP trends have shown upward movement since the SME issue opened for subscription on Jan. 3. The GMP for Fabtech Technologies IPO was Rs 50 on Jan. 2 before jumping to Rs 75 on Jan. 3.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Fabtech Technologies Cleanrooms IPO Day 1 Subscription Status
The IPO was subscribed 19.86 times on Friday
Qualified Institutions: NIL
Non-Institutional Buyers: 13.54 times
Retail Investors: 33.88 times
Fabtech Technologies Cleanrooms: Business And Financials
Fabtech Technologies Cleanrooms Ltd. works in the pharma, biotech and healthcare sectors, making re-engineered and prefabricated modular panels and doors for building cleanrooms for the industries.
The company's product portfolio includes cleanroom panels, view panels, doors, ceiling panels, covings, HVAC systems, and electrification works. It has a 70,000 sqft manufacturing facility in Umbergaon, Valsad, Gujarat.
Use Of Proceeds
The company will use a portion of the IPO proceeds to fund its proposed acquisition of Kelvin Air Conditioning and Ventilation Systems Pvt. The money raised via the IPO will further go towards long-term working capital needs and general corporate purposes.
Financials
Fabtech Technologies Cleanrooms Ltd. reported a revenue of Rs 62.22 crore and a net profit of Rs 5.4 crore for the period ended Sept. 30, 2024. In FY24, its revenue declined by 22% to Rs 98 crore from Rs 125.10 crore in FY23. The net profit during this period decreased 27% year-on-year to Rs 5.78 crore from Rs 7.96 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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