Fabtech Technologies IPO Day 2: Subscription Status, GMP, and Key Details

Fabtech Technologies Ltd. is in the second day of its initial public offering (IPO), which is set to close on October 1, 2025, after opening on September 29. The biopharma engineering company provides solutions to clients in the pharmaceutical, biotech, and healthcare industries, and is looking to raise Rs. 230.35 crore via a fresh issue of 1.21 crore shares. The price band for the book-built issue has been set at Rs. 181 to Rs. 191 per equity share.

Retail investors can place a bid for 1 lot comprising 75 shares, priced at Rs. 14,325 at the upper price band. Small non-institutional investors (NIIs) need to apply for at least 14 lots or Rs. 2,00,550. 

While larger NIIs need to bid for 70 lots or Rs. 10,02,750. The allocation composition includes 50% for Qualified Institutional Buyers (QIBs), a minimum of 35% for retail investors, and 15% for NIIs.

Unistone Capital Ltd. is the book-running lead manager, while Bigshare Services Ltd. is the registrar of the issue.

Subscription Status on Day 2

As of the evening of September 30, the IPO was subscribed 0.78 times overall. The retail investor portion was booked 0.88 times, while the NII quota reached 0.59 times. The QIB segment was subscribed 0.77 times. This marks a steady pickup in bidding compared to Day 1, which had seen the IPO subscribed around 70%.

The allotment of shares is expected to be finalized on October 3, with refunds and credits of shares to demat accounts scheduled for October 6. Fabtech Technologies is likely to debut on both the BSE and NSE on October 7.

Grey Market Premium (GMP)

Investor sentiment is being closely tracked through the grey market. According to market observers, Fabtech Technologies’ shares are currently trading at a GMP of Rs. 20, suggesting a potential listing price of Rs. 211 per share, a premium of around 10% over the upper issue price of Rs. 191. 

Earlier, the grey market premium had fluctuated between Rs. 2 and Rs. 20, indicating cautious optimism among traders.

Financial Performance

The company has shown consistent financial growth in recent years. Its revenue increased from Rs. 200 crore in FY23 to Rs. 335 crore in FY25, and net profit increased from Rs. 21.75 crore to Rs. 46.45 crore in the same time frame. This profitability may appeal to investors, though analysts caution that the IPO valuation appears fully priced.

Also Read: Tata Capital IPO: Key Dates, Lot Size, and Rs. 15,512 Crore Issue Details

Expert Take

Market experts remain divided on whether the IPO should be pursued. Some analysts pointed to the fundamentals and the bank’s profitability as positives. Others say to wait until the listing date, given the volatility of the stock market and the chance for a better entry point after the listing.

Conclusion

The Fabtech Technologies IPO has drawn steady participation so far, with the grey market indicating modest listing gains. Although the financials and positioning of the business and the sector are strong, prospective investors may weigh market sentiment and valuations before making a final decision.