Fabtech Technologies IPO

Fabtech Technologies Ltd, incorporated in 2018, is a biopharma engineering company that specializes in designing and delivering turnkey projects. The company offers comprehensive solutions including cleanroom facilities, modular systems, and customized engineering services. Its end-to-end capabilities span design, engineering, manufacturing, installation, and project management. Fabtech is recognized for its expertise in cleanroom technology, HVAC systems, and process equipment, catering to a global clientele while ensuring compliance with international regulatory standards.

The company provides a wide range of specialized services across the biopharma manufacturing lifecycle, supporting clients from strategic planning to market launch. Its clean water solutions include equipment for purified water, pure steam generation, and water for injection systems with flow capacities from 500 to 50,000 liters per hour. In clean air solutions, Fabtech supports industries such as life sciences, food and beverage, IT, semiconductors, and aeronautics with advanced technologies that enhance operational efficiency. As of July 31, 2025, the company employed 185 permanent staff.

Fabtech Technologies IPO Strengths

• Fabtech has successfully executed 51 projects across more than 62 countries, including emerging and developed markets, providing geographic diversification and resilience.
• Offers integrated end-to-end solutions, including design, engineering, manufacturing, installation, commissioning, and validation for pharma, biotech, and healthcare infrastructure, reducing client dependency on multiple vendors.
• Specializes in cleanroom technology, HVAC systems, and water-for-injection systems for highly regulated sectors, creating high barriers to entry for competitors.
• Serves a wide range of clients in pharmaceuticals, biotechnology, life sciences, food and beverage, IT, semiconductors, and aeronautics, reducing sector-specific risks.
• Order bookings crossed INR 476 crores as of FY25, with revenues growing from INR 199.91 crores in FY23 to INR 335.94 crores in FY25, indicating robust business momentum.
• Committed to delivering cutting-edge, compliant engineering solutions that meet stringent international standards, fostering customer trust.

Fabtech Technologies IPO Risks

• Historically, actual orders have been less than 11% of total proposals submitted, posing a risk to sustained revenue growth if lead conversion does not improve.
• Revenue is concentrated among a few key customers, with top five clients contributing over 56% of revenue, increasing vulnerability to loss or delay of large contracts.
• Turnkey pharma infrastructure projects require significant upfront investments with long payment cycles, impacting liquidity and cash flows.
• Majority of contracts are fixed-price, exposing the company to cost overruns in equipment, materials, or labor which cannot be passed on to customers.
• Large procurement from associate and group companies creates dependency risks, possibly affecting supply and pricing dynamics.
• Operations in politically volatile regions (GCC, MENA, Africa) expose the company to risks arising from political instability and currency fluctuations.
• The company has experienced negative cash flows in recent years, which may constrain operations and growth plans.