The initial public offering (IPO) of hydraulic fittings manufacturer Hy-Tech Engineers continued to attract strong investor interest on its third day, with the issue subscribed 50.8 times by 5 pm on August 26, according to NSE data.
The ₹136-crore IPO received bids for 92.17 crore shares against 1.81 crore shares on offer. Non-institutional investors led the demand, subscribing 82.07 times their allotted portion, while the retail category was subscribed 64.54 times.
Hy-Tech Engineers IPO GMP
In the grey market, Hy-Tech Engineers shares were commanding a premium of ₹30 on the morning of August 26, according to InvestorGain.
At the upper end of the IPO price band of ₹53 per share, the GMP indicates a potential listing gain of around 56.6%.
However, the grey market premium is an unofficial indicator and can change before listing. It does not guarantee the actual listing price or returns.
IPO Price, Listing Date and Issue Details
The Hy-Tech Engineers IPO has a price band of ₹50 to ₹53 per equity share and will close on August 27. The company’s shares are proposed to be listed on the BSE and NSE on September 1.
The issue consists of a fresh issue of shares worth ₹60 crore and an offer for sale (OFS) of 1.42 crore equity shares worth ₹75.73 crore at the upper end of the price band.
Before the IPO opened, the company raised ₹40.72 crore from eight anchor investors by allotting 76.83 lakh shares at ₹53 apiece.
WhiteOak Capital Asset Management, part of the White Oak Capital Group founded by investor Prashant Khemka, received the largest share of the anchor allocation, accounting for 43%.
Strong Financial Performance
Hy-Tech Engineers reported a 15.15% year-on-year rise in profit to ₹22.6 crore in FY26. Revenue from operations increased 17.4% to ₹189.4 crore during the year to ₹189.4 crore.
The company plans to use ₹29.96 crore from the IPO’s net proceeds to purchase machinery and equipment for expansion at its Kavathe, Shirwal and Pithampur Unit-I facilities.
Another ₹16 crore has been earmarked for repayment of loans, while the remaining funds will be used for general corporate purposes.
About Hy-Tech Engineers
Hy-Tech Engineers operates on a business-to-business model, serving original equipment manufacturers and other industrial customers across domestic and international markets.
The company has six manufacturing facilities in India.
Investors should note that IPO GMP figures are unofficial and should not be treated as a guaranteed indication of the stock’s listing price or future returns.
