Fabtech Technologies, a Mumbai-based firm operating in the pharmaceutical sector, has received final observation from the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
The company received Sebi nod to launch the IPO on December 27. In Sebi’s terminology, obtaining observations refers to receiving approval to launch public issues.
The company had filed its IPO papers with SEBI on September 14 this year.
As per the company’s DRHP, Fabtech Technologies IPO is entirely a fresh share sale of up to 1.2 crore shares of face value of ₹10 each, with no offer for sale component. The company plans to use the funds raised via the IPO for funding working capital requirements, pursuing growth initiatives through acquisitions, and general corporate purposes.
However, it may consider a further issue of equity shares through a private placement basis worth up to ₹10 crore, post which the fresh issue size will be reduced.
In the IPO, 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
Unistone Capital is the sole book-running lead manager to the issue and Bigshare Services is the registrar to the offer. The company’s shares are proposed to be listed on the National Stock Exchange of India (NSE) and BSE.
About the company
Fabtech Technologies specialises in turnkey engineering solutions for pharmaceuticals, biotech and healthcare companies. It provides technical expertise and infrastructure to deliver comprehensive solutions for establishing aseptic manufacturing facilities, encompassing everything from design to certification. The company has a presence in more than 60 countries.
As of June 30, 2024, Fabtech Technologies had an order book worth ₹726.15 crore.
Fabtech Technologies’ total revenue from operations grew by 16.69%, from ₹193.80 crore in Fiscal 2023 to ₹226.13 crore in Fiscal 2024. This growth was mainly due to higher sales of products, services, and export incentives. The company’s consolidated profit after tax increased by 25.23%, from ₹21.73 crore in Fiscal 2023 to ₹27.21 crore in Fiscal 2024.
Other IPOs
Apart from Fabtech Technologies, five other companies such as Ather Energy, Ivalue Infosolutions, Oswal Pumps, Quality Power Electrical Equipments and Schloss Bangalore also received Sebi nod for their initial share sales.
DRHPs of Ivalue Infosolutions and Ather Energy received Sebi nod on December 23. Meanwhile, Oswal Pumps’ DRHP got approved on December 24, Schloss Bangalore’s on December 26 and Quality Power Electrical Equipments’ on December 27.
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