Multibagger SME stock defies global market turmoil—soars 300% since IPO
What's the story
Multibagger SME stock Fabtech Technologies Cleanrooms has defied global economic challenges to post a phenomenal 300% rise against its Initial Public Offering (IPO) price.
Launched in January this year, the company debuted on the BSE SME exchange on January 10 at ₹161.50, giving early investors an impressive 90% listing gain.
Despite major market fluctuations after Donald Trump's inauguration as US President, Fabtech's shares have consistently attracted new investors.
Stock performance
Shares continue to rise
The SME stock of Fabtech Technologies Cleanrooms has been on a steady upward trend, hitting an all-time high of ₹350.80 within three months of its listing.
On Friday, the stock closed at ₹346.40 on the BSE, around 310% higher than its public issue price of ₹85 per share.
This phenomenal growth came despite the Indian stock market witnessing a sell-off as Trump's tariff policies hit global markets including Dalal Street.
Strategic move
Acquisition of majority stake in Kelvin
In a major development, Fabtech Technologies Cleanrooms has announced the acquisition of a majority stake in Kelvin Air Conditioning & Ventilation Systems Pvt. Ltd. (Kelvin).
The company upped its ownership from one-third to 51%, making Kelvin its subsidiary from an affiliate.
The strategic move is part of Fabtech's growth strategy to enhance its overall capabilities in the heating, ventilation, and air conditioning (HVAC) sector, critical for cleanroom environments.
Business integration
A look at relationship with Kelvin
Fabtech Technologies Cleanrooms had earlier acquired a 33% stake in Kelvin in 2024 as part of a strategic alliance to add HVAC expertise to its portfolio.
The move to up its stake to 51% is in accordance with plans detailed during its recent IPO.
Mumbai-based Kelvin is a turnkey system integrator specializing in critical HVAC applications across industries including pharmaceuticals, biotechnology, semiconductors, data centers, and electronic and commercial buildings.