The ₹230-crore initial public offering (IPO) of Fabtech Technologies has commenced public subscription today. As of 10:57 AM on the first day, the IPO has seen 0.07 times subscription. Non-institutional investors (NIIs) have bid 0.08 times while the retail category stands at 0.17 times. The qualified institutional buyers (QIBs) had not submitted bids at the time of this report. The IPO is set to close on October 1, 2025.
IPO Details
Fabtech Technologies, a provider of turnkey engineering solutions for the pharmaceutical and healthcare industry, has established a price band of ₹181-191 per share for its IPO, amounting to a fresh issue of up to 1.2 crore equity shares, with the upper-limit value at ₹230 crore. The minimum lot size for bidding is set at 75 shares, with additional bids to be made in multiples of this figure.
The Mumbai-based company plans to use the proceeds for working capital requirements, pursuing inorganic growth through acquisitions, and for general corporate purposes. Unistone Capital is acting as the sole book-running lead manager for the IPO.
Brokerage View
Brokerages have not overwhelmingly endorsed the IPO. Reliance Securities remarked that Fabtech’s asset-light business model, proprietary project management system, and presence in emerging markets position the company well to leverage the structural growth in global pharmaceutical capital expenditures. Additionally, the diversified order book provides visibility for near-term revenues.
However, the brokerage highlighted potential risks, including low proposal-to-order conversion rates and a dependency on third-party procurement. Reliance Securities has assessed the company as fairly valued and consequently assigned a neutral rating to the IPO.
Published on September 29, 2025
