febootstrap 2.7-0.1 (armel binary) in ubuntu precise

 febootstrap is a tool for creating a Fedora boot filesystem. You can
 think of it as the Fedora equivalent of debootstrap. Like debootstrap,
 febootstrap doesn't need to be run as root.
 .
 febootstrap comes with tools to create initrd.img (initramfs) images
 directly. There are also tools to minimize the size of the generated
 system by removing unnecessary files.