Fabtech Technologies Cleanrooms IPO Day 3: Check price band, subscription status, GMP & other details

Fabtech Technologies Cleanrooms IPO: The initial public offering (IPO) of Fabtech Technologies Cleanrooms kicked off for subscription on Friday, January 3 and closed on Tuesday, January 7.

Fabtech Technologies Cleanrooms IPO worth ₹27.74 crore is entirely a fresh issue of 32.64 lakh shares. The price band for Fabtech Technologies Cleanrooms IPO has been fixed at ₹80 to ₹85 per share.

Investors can apply in a lot size of 1600 shares, and its multiples thereof. The minimum investment for a retail investor is thus ₹1,36,000.

Ahead of the IPO opening today, the company raised ₹7.89 crore from anchor investors on Thursday. Following the closure of the public offer on January 7, the allotment for Fabtech Technologies Cleanrooms IPO is expected to take place on January 8. Meanwhile, Fabtech Technologies Cleanrooms shares could list on the BSE SME platform on January 10.

Fabtech Technologies Cleanrooms IPO Objective

The company plans to use the funds raised via the initial share sale for meeting long-term working capital needs, acquisition of equity shares of Kelvin Air Conditioning and Ventilation Systems Private Limited, and general corporate purposes.

Fabtech Technologies Cleanrooms IPO Subscription

Fabtech Technologies Cleanrooms IPO was subscribed 740.37 times at the end of the third day of the bidding. The retail portion was subscribed 715.05 times, the NII portion 1,485.52 times while the QIB portion was booked 224.5 times.

Fabtech Technologies Cleanrooms IPO GMP

The current grey market trends (GMP) signal a strong demand for Fabtech Technologies Cleanrooms shares. Fabtech Technologies Cleanrooms IPO GMP today is ₹80, suggesting that the company shares are trading at a premium of ₹50 over the IPO price of ₹85. If the current trends sustain, Fabtech Technologies Cleanrooms shares could list at ₹165, a premium of 94%.

About Fabtech Technologies Cleanrooms

The company is involved in manufacturing and providing design-to-validation solutions of pre-engineered and pre-fabricated modular panels and doors for building cleanrooms for pharmaceutical, healthcare & biotech sectors.

Cleanrooms are specially designed or constructed with a controlled environment to ensure low levels of pollutants, dust, airborne microbes, aerosol and chemical vapour.

The company's manufacturing facility located at Umbergaon, Valsad, Gujarat, has a total area of about 70,000 sq. ft.

Unichem Laboratories Ltd, Desano Pharmaceuticals Private Limited Apitoria Pharma Pvt Ltd, a subsidiary of Aurobindo Pharma Ltd, are some of its marquee customers.

For the financial year 2023-2024 (FY24), it witnessed a 27% year-on-year (YoY) decline in profit after tax to ₹5.78 crore. Meanwhile, its revenue declined 22% YoY to ₹89.11 crore.

Vivro Financial Services Private Limited is the sole book-running lead manager of the Fabtech Technologies Cleanrooms IPO, while Maashitla Securities Private Limited is the registrar for the issue.