Fabtech Technologies has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
Proceeds from the IPO to the extent of Rs 120 crore will be used for funding the working capital requirements of the company, and Rs 30 crore for pursuing inorganic growth initiatives through acquisitions, and general corporate purposes. Unistone Capital is the sole book-running lead manager to the issue.
Fabtech Technologies offers comprehensive start-to-finish solutions encompassing designing, engineering, procurement, installation and testing of select pharmaceutical equipment for a wide range of customers.
