Fabtech Technologies Cleanrooms IPO booked nearly 688 times on last day, NIIs portion subscribed 1,097x

The initial public offering (IPO) of Fabtech Technologies Cleanrooms Limited closed with a bumper subscription on the last day, January 7, led by huge demand from retail and non-institutional investors.

The ₹27.74-crore BSE SME issue, which opened for bidding on January 3, was subscribed nearly 688 times.

Fabtech Technologies Cleanrooms IPO received bids for over 160.76 crore shares against 23.36 lakh shares on offer.

The retail investors subscribed their quota 715.05 times with bids for over 77.68 crore shares against 10.86 lakh shares on offer. The Non-Institutional Investors (NIIs) booked their category 1,097.42 by applying for over 69.18 crore shares against 6.3 lakh shares on offer. The Qualified Institutional Buyers (QIBs) applied for more than 13.9 crore shares against 6.19 lakh shares set aside for them.

Fabtech Technologies Cleanrooms IPO details

Fabtech Technologies Cleanrooms IPO consisted solely of a fresh issue of 32.64 lakh shares. The company had fixed the IPO price band at ₹80 to ₹85 per share.

The minimum lot size is 1,600 shares for the retail investors. The minimum bid size for retail investors was ₹1,36,000 for at least a single lot.

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

Fabtech Technologies Cleanrooms IPO key dates

The IPO allotment status is expected to be finalised on Wednesday, January 8. Refunds will be issued on Thursday, January 9, and the allottees will also receive shares in the Demat accounts on the same day.

The company has proposed to list shares on the BSE SME platform on Friday, January 10.

About Fabtech Technologies Cleanrooms and use of IPO proceeds

Fabtech Technologies Cleanrooms Limited specialises in offering end-to-end solutions for pre-engineered and pre-fabricated modular panels and doors used to build cleanrooms. These cleanrooms are designed to maintain a controlled environment with minimal levels of pollutants, dust, airborne microbes, and chemical vapours, catering primarily to the pharmaceutical, healthcare and biotech sectors.

Products of the company are certified by FM Global, ensuring adherence to fire safety standards. Their client base consists of prominent players in the pharmaceutical and healthcare industries, including Unichem Laboratories Ltd, Desano Pharmaceuticals Pvt. Ltd, Apitoria Pharma Pvt. Ltd, and Hamdard Laboratories (India).

The proceeds from the fresh issue will be allocated towards meeting long-term working capital needs, acquisition of equity shares in Kelvin Air Conditioning and Ventilation Systems Pvt. Ltd, and general corporate purposes.