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PNN
Mumbai (Maharashtra) [India], January 2: Fabtech Technologies Cleanrooms Limited specializes in cleanroom solutions for the pharma, healthcare and biotech sectors. It proposes to open its Initial Public Offering on January 03, 2025 aiming to raise Rs 27.74 Crores, with shares to be listed on the BSE SME platform. The issue size is 32,64,000 equity shares of face value of Rs 10 each with an issue price band of Rs 80 - Rs 85 Per Share. Equity Share Allocation * Qualified Institutional Buyer - 15,47,200 Equity Shares * Non-Institutional Investors -4,65,600 Equity Shares * Retail Individual Investors -10,86,400 Equity Shares * Market Maker - Up to 1,64,800 Equity Shares The net proceeds from the IPO will be utilized to meet long-term working capital requirements, proposed acquisition of equity shares of Kelvin Air Conditioning & Ventilation Systems Private Limited and general corporate purposes. The anchor bidding will open on January 02, 2025, the issue opening date will be January 03, 2025 and the issue will close on January 07, 2025. The Book Running Lead Manager to the Issue is Vivro Financial Services Private Limited and the Registrar to the Issue is Maashitla Securities Private Limited. Aasif Ahsan Khan, Chairman & Non-Executive Director of Fabtech Technologies Cleanrooms Limited expressed, "Our IPO marks a transformative phase in the Company's growth story. With over 28 years of engineering expertise as part of the Fabtech Group and a strong presence in the pharmaceutical, healthcare and biotech sectors, we are committed to delivering innovative cleanroom solutions. The funds raised through the IPO will strengthen our working capital, support strategic acquisitions like Kelvin Air Conditioning & Ventilation Systems and fuel the expansion of our product portfolio, including modular panels, doors and advanced HVAC systems. With facilities in Umbergaon and Murbad and a proven track record of engineering excellence, this IPO positions us to seize emerging market opportunities, enhance operational efficiency and solidify our leadership in the industry. We are keen to take this step toward delivering greater value to our customers and the cleanroom ecosystem." Tushar Ashar, Vice President of Vivro Financial Services Private Limited said, "The Company is entering an exciting phase in its growth journey. With a strong foothold in the cleanroom solutions industry, particularly within the pharmaceutical, healthcare and biotech sectors, Fabtech has shown remarkable growth potential. The cleanroom industry is witnessing significant expansion, driven by increasing demand for stringent quality standards and contamination control, particularly as global industries focus on health and safety protocols. This IPO will enable the Company to enhance its financial position, pursue key acquisitions and expand its range of products. We are confident that the Company's continued emphasis on innovation, quality and meeting evolving industry needs will provide substantial long-term value for its customers and cement its leadership in the market." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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