Fabtech Technologies Cleanrooms Ltd. to Acquire Equity Stake in Advantek Air Systems Private Limited and Issue 1,24,440 Equity Shares

Fabtech Technologies Cleanrooms Ltd. (FTCL) announced that its Board of Directors approved the acquisition of equity stake in Advantek Air Systems Private Limited. Additionally, the Board approved the offer and issue of 1,24,440 equity shares of the company on a preferential basis for cash consideration. The acquisition of 38,673 equity shares of Advantek will be made for a total consideration of Rs. 2,54,85,507 in cash. Advantek is a manufacturing company that produces air handling units used in air conditioning industries. The acquisition aligns with FTCL's core business and supports its expansion. Advantek was incorporated in 2013 and has shown a steady increase in turnover over the past three years.