Fabtech Technologies share price makes a muted debut, stock opens at ₹192 apiece on NSE

Fabtech Technologies share price made a muted debut on the bourses today. On NSE, Fabtech Technologies share price opened at ₹192 per share, 0.52% higher than the issue price of ₹191. On BSE, Fabtech Technologies share price today opened at ₹191 apiece, same as the issue price.

The initial public offering (IPO) of Fabtech Technologies had a subscription period that ran from Monday, September 29 until Wednesday, October 1. With a face value of ₹10, shares in the Fabtech Technologies IPO price band has been set between ₹181 and ₹191. At least 75 of those shares are up for bid, and there are multiples of those shares available. Fabtech Technologies IPO subscription status was 2 times on the last day of bidding.

Fabtech Technologies offers comprehensive solutions from start to finish, encompassing the design, engineering, procurement, installation, and testing of specialized pharmaceutical equipment for a diverse range of clients.

As of June 2024, the company has successfully completed 35 projects across various countries, including Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, and the UAE.

Fabtech Technologies IPO GMP today

Fabtech Technologies IPO GMP is ₹0, which meant shares were trading at their issue price of ₹191 with no premium or discount in the grey market, according to investorgain.com.

The expected IPO listing price as per grey market was ₹191, listed above GMP price and marked as positive listing for GMP, as per experts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Fabtech Technologies IPO details

Fabtech Technologies IPO of the company consists of a new issue of as many as 1.2 crore equity shares valued at ₹230 crore based on the highest end of the price range.

The funds raised from the IPO will be allocated towards meeting the company's working capital needs, exploring growth opportunities through acquisitions, and other corporate uses.

Unistone Capital serves as the exclusive book-running lead manager for this issue.

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