The initial public offer of Fabtech Technologies got subscribed 12% on the first day of bidding so far on September 29.

The IPO received bids for 14,44,650 shares against 1,20,60,000 shares on offer, as per NSE data.

The portion reserved for Qualified Institutional Buyers (QIBs) saw no subscription so far and non-institutional investor portion got 13% subscription. Retail Individual Investors (RIIs) quota got subscribed 28% so far.

The Mumbai-based company's Rs 230-crore IPO will conclude on October 1. The price band has been set at Rs 181-191 per share for the IPO.

The company's IPO is entirely a fresh issue of up to 1.2 crore equity shares worth Rs 230 crore at the upper end of the price band.

Proceeds from the IPO will be used for funding the working capital requirements of the c

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