This comes after the company’s ₹135.73-crore initial public offering (IPO) was subscribed more than 244 times during the four-day bidding period. The issue, which opened on August 24 and closed on August 27, was subscribed 244.41 times overall.
Investors placed bids for more than 443.49 crore shares against 1.84 crore shares on offer, according to NSE data.
The non-institutional investor (NII) portion was subscribed 402.29 times, while the qualified institutional buyer (QIB) category was subscribed 255.77 times. The retail portion was subscribed 170.58 times.
In the grey market, Hy-Tech Engineers shares were commanding a premium of ₹35 on September 1. At the upper end of the IPO price band of ₹53, this indicates a potential listing gain of 66%, implying an estimated listing price of around ₹88.
The IPO comprised a fresh issue of ₹60 crore and an offer for sale (OFS) of 1,42,89,450 equity shares. The price band was fixed at ₹50-53 per share. The shares are scheduled to list on both the BSE and NSE on September 1.
Ahead of the IPO, Hy-Tech Engineers raised ₹40.72 crore from anchor investors through the allotment of 76.83 lakh shares at ₹53 apiece. The anchor book included funds managed by WhiteOak Capital, among other investors.
Hy-Tech Engineers reported consolidated revenue from operations of ₹189.40 crore for the financial year ended March 31, 2026, while consolidated profit stood at ₹22.59 crore, compared with ₹19.62 crore a year earlier.
The company operates in the hydraulics industry and manufactures hydraulic fittings used across sectors including construction machinery, automobiles, farming machinery, injection moulding machines and hydraulic systems. It has more than four decades of experience in the industry.
Of the fresh issue proceeds, Hy-Tech Engineers plans to deploy around ₹29.97 crore towards capital expenditure for expansion at its Kavathe, Shirwal and Pithampur Unit-I facilities. Another ₹16 crore is earmarked for repayment of certain borrowings, with the balance intended for general corporate purposes.
First Published: Sept 1, 2026 8:03 AM IST
