Fabtech Technologies Makes Subdued Market Debut on BSE and NSE
Fabtech Technologies Ltd, a provider of engineering solutions for pharmaceuticals, biotech, and healthcare industries, listed on BSE and NSE. The stock opened at ₹191 on BSE, at par with its issue price, but later traded at ₹186, down 2.68%. On NSE, it debuted at ₹192, a 0.52% premium. The IPO raised ₹230 crore with a 2.03 times subscription rate. The company plans to use the proceeds for working capital, acquisitions, and corporate purposes.
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Fabtech Technologies Ltd, a turnkey engineering solutions provider for the pharmaceuticals, biotech, and healthcare industries, made its stock market debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today. The company's initial public offering (IPO) had garnered significant attention in the market.
Listing Details
| Particulars | BSE | NSE |
|---|---|---|
| Listing Price | ₹191.00 | ₹192.00 |
| % Change from Issue Price | 0.00% | 0.52% |
| Current Trading Price | ₹186.00 | - |
| % Change from Listing | -2.68% | - |
Fabtech Technologies opened at par with its issue price of ₹191.00 on the BSE. However, the stock later traded at ₹186.00, down 2.68% from its listing price. On the NSE, the stock debuted at ₹192.00, a marginal increase of 0.52% from its issue price.
IPO Highlights
- Issue Size: ₹230.00 crore
- Subscription Rate: 2.03 times
- Price Band: ₹181.00-191.00 per share
- Issue Type: Fresh issue of up to 1.2 crore equity shares
- Market Valuation: ₹826.78 crore (post-listing)
Company Profile
Fabtech Technologies specializes in providing comprehensive solutions for the pharmaceutical, biotech, and healthcare sectors. Their services include:
- Designing
- Engineering
- Procurement
- Installation
- Testing of pharmaceutical equipment
Fund Utilization
The company plans to use the IPO proceeds for:
- Working capital requirements
- Inorganic growth initiatives through acquisitions
- General corporate purposes
The flat to slightly negative debut of Fabtech Technologies on the stock exchanges suggests a cautious response from investors. While the company's specialized focus in the pharmaceutical and healthcare sectors could be seen as a potential strength, the muted market response indicates that investors may be adopting a wait-and-watch approach to assess the company's performance in the public market.
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