Fabtech Technologies Plans IPO to Drive Growth and Expansion

Fabtech Technologies, a provider of end-to-end engineering solutions for the pharmaceutical, biotechnology and healthcare industries, has filed preliminary documents with the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering (IPO).

The Mumbai-based IPO company will raise a fresh issue of up to 1.20 crore equity shares, subject to eligible employee subscriptions, as specified in the draft red herring prospectus (DRHP). The company is considering raising up to Rs 10 crore in a pre-IPO round, which will reduce the fresh issue size accordingly.

The IPO proceeds — Rs 120 crore for working capital requirements and Rs 30 crore for inorganic growth initiatives like acquisitions — will be used for general corporate purposes. Fabtech Technologies, which spun out of its parent Fabtech Group in 2021, has completed 35 projects across countries and has reported strong financial growth in fiscal 2024.

(Based on information from the agency.)