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Fabtech Technologies IPO
Mainboard
Open Date
29 Sep 2025
Close Date
1 Oct 2025
Open Date
29 Sep 2025
Close Date
1 Oct 2025
Min Investment
₹ 13,575
Lot Size
75
Issue Size
₹ 230.35 Cr
Price Range
₹ 181 - ₹ 191
Subscribed
2.01 x
IPO Timeline
IPO Offer Start
29 Sep 2025
IPO Offer Ends
1 Oct 2025
Allotment Finalisation
2 Oct 2025
Refund Initialisation
3 Oct 2025
Non-Institutional Buyers (sHNI)
3 Oct 2025
Listing of Shares
7 Oct 2025
IPO Subscription Details as on 12 Nov 2026, 07:31 PM
Qualified Instituational Buyers (QiB)
2.02 x
Qualified Instituational Buyers (QiB)
2.02 x
Retail
2.02 x
Retail
2.02 x
Employees
1.99 x
Employees
1.99 x
Total
2.01 x
Total
2.01 x
Non-Institutional Buyer (bHNI)
1.65 x
Non-Institutional Buyer (bHNI)
1.65 x
Non-Institutional Buyer (sHNI)
2.56 x
Non-Institutional Buyer (sHNI)
2.56 x
Note: This information is provided for general guidance only. Dates may be subject to change.
About the Company
Fabtech Technologies Limited is a global company headquartered in India, specializing in turnkey engineering solutions for pharmaceuticals, biotech and healthcare companies. The company has a presence spanning more than 62 countries across Middle East, Africa, Asia, Europe, Latin America, North America, and other regions. The company provides extensive technical expertise and infrastructure to deliver comprehensive solutions for establishing aseptic manufacturing facilities, encompassing everything from design to certification. The company offers comprehensive start to finish services in greenfield projects, encompassing disease identification, planning, designing, engineering, procurement, quality assurance, logistics management and installation and commissioning for a wide range of customers across various geographies, particularly key emerging economies. Additionally, the company also offers some of its engineering solutions, which majorly include, equipment procurement and supply and logistics management, on a standalone basis, either as part of greenfield or brownfield projects. The company's comprehensive solutions encompass the entire project lifecycle of customers and address the three key elements in pharmaceuticals, biotech and healthcare facilities, namely, bio clean air, clean water, and process. The company has an established track record in executing pharmaceutical projects across a diverse range of dosage forms, encompassing, liquids, solids, and semisolids. The company is part of Fabtech Group which was established in 1995 and has over twenty-nine years of operating history in executing pharmaceutical turnkey projects. Since incorporation and till July 31, 2025, the company has completed fifty one projects across countries, namely Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, United Arab Emirates. The company believes that as on July 31, 2025, it has a strong order book aggregating to ₹ 90,441.87 lakhs.
Founded In
2018
CEO
Naushad Alimohmed Panjwani
Financials of Fabtech Technologies IPO
Total Income
Total Expenses
Total Profit
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | 19,379.75 | 22,613.63 | 32,666.85 |
| Other Income | 611.26 | 446.81 | 927.36 |
Total Income | 19,991.01 | 23,060.44 | 33,594.21 |
Total Expenses | 17,564.91 | 19,621.56 | 29,367.92 |
| Profit Before Tax | 2,789.87 | 3,577.02 | 6,043.37 |
Total Profit | 2,173.37 | 2,721.74 | 4,645.30 |
All figures are in lakhs (₹)
Utilisation of Proceeds
All figures are in lakhs (₹)
| Purpose | Amount |
|---|---|
| The company proposes to utilize the Net Proceeds to fund working capital requirements for business operations and executing future projects. The working capital requirement depends on multiple factors including order book value, expected order wins, payment terms with customers and suppliers, and margin money for bank guarantees and letters of credit. The company is required to make upfront advances to third-party equipment suppliers ranging between 10% to 30% of the total purchase order value, and advance payments to third party contractors for installation and commissioning. The company also needs to issue Bank Guarantees upon receiving advance payments from customers and provide performance bank guarantees to secure customers against installation or quality defects. As an asset light company without material collateral, the company is required to place fixed deposits with lenders to secure Bank Guarantees, leading to blockage of liquidity. The funds will be deployed over Fiscals 2026 and 2027 to support the company's expanding operations and meet the growing order book position. | 12,700 |
| The company intends to pursue inorganic growth initiatives through strategic acquisitions by acquiring manufacturers engaged in manufacturing of process equipment and other critical components in India, United Arab Emirates, Saudi Arabia and Egypt. These acquisitions are aimed at expanding execution capabilities, diversifying customer base, enabling operational integration with the business, cost and process optimization, streamlining business processes, expanding geographic reach and gaining further market share. The company intends to acquire minority stake in four to five target companies to set up manufacturing capabilities in foreign jurisdictions, which would enable execution of projects in such geographies by sourcing key equipment and components domestically through integrated manufacturing capabilities while retaining the asset light model, thus reducing logistical costs and increasing margins. The majority of the Net Proceeds shall be utilized towards funding acquisitions in foreign geographies. | 3,000 |
| The company proposes to deploy the balance Net Proceeds towards general corporate purposes, subject to such amount not exceeding 25% of the Gross Proceeds, in compliance with the SEBI ICDR Regulations. The general corporate purposes include meeting fund requirements which the company may face in the ordinary course of business, strengthening lead generation capabilities by marketing equipment and solutions, meeting ongoing general corporate contingencies, and business requirements in the ordinary course of business towards salaries and wages, rent, administration expenses, upgrading technology and maintenance, payment to creditors, and advisory services. The allocation or quantum of utilization of funds towards specific purposes will be determined by the Board based on business requirements and other relevant considerations from time to time. | - |
- Key turnkey engineering solution provider offering integrated engineering solutions with comprehensive service offerings: The company is a key turnkey engineering solution provider in pharmaceuticals capex space, offering comprehensive start to finish solutions encompassing designing, engineering, procurement, installation and testing of pharmaceutical equipment for a wide range of customers. The company provides comprehensive start to finish execution of controlled environment infrastructure with the ability to provide end to end solution encompassing designing, engineering, procurement, installation, testing, commissioning, management and operational support for a wide range of customers primarily in the pharmaceutical, biotechnological, and healthcare sectors across geographies. Since incorporation and till July 31, 2025, the company has completed around fifty one (51) projects, across countries, namely Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, United Arab Emirates. During the Fiscal 2025, Fiscal 2024 and Fiscal 2023, the company's order book comprised, thirty-two (32), thirty-six (36) and thirty-eight (38), ongoing as well as completed turnkey projects, representing revenue from turnkey projects of ₹ 24,350.14 lakhs, ₹ 19,560.58 lakhs and ₹ 17,444.66 lakhs, respectively and constituting 74.54% 86.50% and 90.01% of total revenue, for the said Fiscals, respectively. As on July 31, 2025, the company has an order book aggregating to ₹ 90,441.87 lakhs.
- Asset-light and integrated business model: The company has adopted what it believes to be a scalable, asset-light and less capital-intensive business model by procuring equipment from Related Entities and third party equipment suppliers. Since the company procures majority of the equipment required by customers through Related Entities, on an arms-length basis and third party equipment suppliers, it is not required to make capital investment for setting up a manufacturing unit or heavy machinery for manufacturing the equipment supplied. The company believes that this asset light business model, enables it to direct all efforts towards project execution and sales and marketing activities, while ensuring that the equipment supplied to customers are of desired quality and delivered in a timely manner. During Fiscal 2025, Fiscal 2024 and Fiscal 2023, expenditure incurred towards purchase of equipment through Related Entities was ₹ 5,445.00 lakhs (25.68%), ₹ 4,225.05 lakhs (34.89%) and ₹ 3,769.04 lakhs (36.82%) respectively of total procurement costs.
- In-house software technology capabilities: The company has developed in-house software technology capabilities that track the complete life-cycle of projects and enable various teams to manage, supervise and control their respective responsibilities in a timely and coordinated manner. All project planning, development, execution and completion activities are connected to the company's central information technology network through 'FabAssure' a project management system facilitating real time monitoring and tracking of projects and enabling faster project execution. The company believes that its in-house technology capabilities enable it to increase operating efficiencies, timely execution of projects, improve service quality and maintain stringent operational control.
- Diversified order book across geographies, clients, and business verticals: Over the last three years, the company has expanded and diversified its order book, reflecting its commitment to organic and sustainable growth while pursuing a broader range of projects. The company's order book has grown from ₹ 42,464.62 lakhs as of March 31, 2023 to ₹ 61,306.41 lakhs as of March 31, 2024 and ₹ 76,173.60 lakhs as of March 31, 2025. With a broad range of expertise and infrastructure, the company is equipped to deliver a wide array of projects, encompassing granulation solutions, isolator containment systems, injectable projects, encapsulation solutions, water treatment solutions, cleanroom infrastructure development, cleanroom system integration, and cleanroom equipment installation, HVAC, mechanical, electrical and plumbing and packaging lines, among others. The company also has capabilities in executing pharmaceutical projects across all dosage forms, encompassing, liquids, solids, and semisolids.
- Project execution across diverse and challenging geographies: The company is an enabler in consolidating technical knowhow and infrastructural capabilities for aseptic manufacturing and research processes in the pharmaceutical, healthcare and biotechnology sectors, in key emerging economies like Bangladesh, Egypt, Ethiopia, India, Kenya, Kingdom of Saudi Arabia, Morocco, Nicaragua, Nigeria, South Africa, Turkey, UAE, USA and Tanzania. The company has a track record of executing projects across diverse and challenging geographical landscapes. Owing to its international operations particularly in emerging economies, the company has developed the capabilities of successfully delivering projects in regions where conditions are less than favourable, on account of regional conflicts, disruption in supply chains, difficulty in recruiting skilled employees, etc. The company addresses and mitigates such challenges through risk assessment, comprehensive planning, and leveraging local expertise.
- Efficient lead funnelling leading to higher mandate conversion: The company undertakes a lead funnelling process for identifying and generating leads from various sources and converting them into opportunities. The company's proposal to order conversion ratio has improved from 7.79% in Fiscal 2023 to 8.98% in Fiscal 2024 and 10.24% in Fiscal 2025. Value of proposals submitted increased from ₹ 3,71,059.98 lakhs in Fiscal 2023 to ₹ 4,49,109.19 lakhs in Fiscal 2024 and ₹ 4,64,950.00 lakhs in Fiscal 2025. Value of orders received increased from ₹ 28,893.67 lakhs in Fiscal 2023 to ₹ 40,350.23 lakhs in Fiscal 2024 and ₹ 47,623.45 lakhs in Fiscal 2025.
- Track record of executing projects across all dosage forms: The company is engaged in the business of building pharmaceutical, biotech and healthcare capabilities by offering comprehensive start to finish solutions encompassing designing, engineering, procurement, installation and testing of pharmaceutical equipment for a wide range of customers. Owing to its comprehensive service offerings, the company has an established track record in executing pharmaceutical projects across a diverse range of dosage forms, encompassing, liquids, solids, and semisolids. The company's capabilities span the manufacturing of tablets, capsules, liquids injectables, and semisolid forms such as ointments and inhalers. The company specializes in executing projects across broad spectrum of pharmaceutical products, from oncology and cancer drugs to widely-used over-the-counter medications.
- Experienced Leadership Team with Fabtech Group parentage: The company is led by the Fabtech Group, which has an operating history of more than two decades in India and across geographies. The company leverages the Group's industry expertise and reputation to drive business development and strategic expansion. With a combined experience of over three decades in pharmaceutical engineering, the company's Promoters - Aasif Ahsan Khan, Hemant Mohan Anavkar, and Aarif Ahsan Khan, have been instrumental in shaping the company's success, and growth trajectory. Additionally, the company is led by CEO, Ashwani Kumar Singh who has over three decades of professional experience including with Grasim Industries Limited, Jubilant Organosys Limited, Regent Drugs Limited, Piramal Enterprises Limited and Watson Pharma Private Limited.
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