Fabtech Technologies Shares Make Muted Listing After IPO

Fabtech Technologies Ltd. made a muted debut on the stock market on Tuesday, listing nearly the same to the IPO price. The scrip opened at Rs 192 on the NSE and Rs 191 on the BSE, conpared to the issue price of Rs 191.

The initial public offering was subscribed 2.03 times on its final day of subscription on Wednesday. The IPO aimed to raise Rs 230.35 crore from the primary market. It was a book-built issue that comprised entirely a fresh issue of 1.21 crore shares.

Fabtech Technologies is a biopharma engineering company. It provides engineering solutions to pharmaceutical, biotech and healthcare companies.

The company will use proceeds from the IPO to fund working capital requirements, pursue inorganic growth and for general corporate purposes.