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According to market observers, unlisted shares of Hy-Tech Engineers command a grey market premium of Rs 44 per share, indicating 83.02% potential listing gain for investors.
Hy-Tech Engineers IPO.
Hy-Tech Engineers IPO Last Day: The initial public offering (IPO) of hydraulic fitting manufacturer Hy-Tech Engineers Ltd is witnessing its final day of bidding today, August 27. So far, the public issue has been subscribed 51.76 times. The Rs 135.73-crore IPO, which opened for subscription on August 24, will close today, August 27.
The company’s shares are proposed to be listed on both the BSE and the NSE on Tuesday, September 1.
According to NSE data, the IPO received bids for 92,78,54,271 shares against 1,79,27,144 shares on offer, translating into an overall subscription of 51.76 times till the third day of bidding on Wednesday.
The QIB portion was subscribed by 0.83 times, while the retail investor category was booked by 66.80x. The NII category received a subscription of 84.57 times. Within the NII segment, the small NII (sNII) portion was subscribed 142.71 times, while the big NII (bNII) category was subscribed 55.49 times.
Hy-Tech Engineers IPO Price Band and Lot Size
Hy-Tech Engineers has fixed the IPO price at Rs 53 per share. Investors can apply for a minimum of one lot comprising 283 shares, requiring an investment of Rs 14,999.
The public issue consists of a fresh issue of equity shares worth Rs 60 crore and an offer for sale (OFS) of Rs 75.73 crore by existing shareholders, taking the total issue size to Rs 135.73 crore.
Hy-Tech Engineers IPO GMP Today
According to market observers, unlisted shares of Hy-Tech Engineers Ltd were commanding a grey market premium (GMP) of Rs 44 per share on Tuesday.
Based on the IPO price of Rs 53, the GMP indicates a potential listing price of around Rs 97 per share, which is a 83.02 per cent listing gain. However, investors should note that the grey market is unofficial and GMP keeps changing based on investor sentiments.
Hy-Tech Engineers IPO: Should You Apply?
Brokerages are largely positive on the Hy-Tech Engineers IPO, citing the company’s strong margins, backward integration, established customer base and growth opportunities in hydraulic fittings.
SMIFS has recommended subscribing to the issue, highlighting Hy-Tech Engineers’ presence in the defence and railway sectors, long-standing customer relationships and capacity expansion plans. “Hy-Tech’s certified positioning in defence and railways, durable customer relationships, and capacity-led growth optionality” could help the company gain market share in the growing hydraulic fittings market, it said.
Swastika Investmart has also given the issue a ‘subscribe’ rating. It noted that Hy-Tech Engineers has maintained EBITDA margins of around 22 per cent and net margins above 11.5 per cent, reflecting pricing power supported by backward integration through its Nashik forging unit. The brokerage also pointed to the company’s 22.3 times FY26 P/E, 24.4 per cent ROCE and plans to reduce debt as factors offering a balance between earnings growth and financial strength.
Anand Rathi Share & Stock Brokers has recommended subscribing to the IPO for the long term. According to the brokerage, the issue is valued at 22.25 times FY26 earnings and 12.15 times EV/EBITDA. While it sees Hy-Tech Engineers benefiting from the growth of the hydraulic fittings industry, it considers the valuation reasonable given the company’s growth prospects and established market position.
Master Capital Services has also assigned a ‘subscribe for long-term’ rating, describing Hy-Tech Engineers as a solid player in precision engineering and hydraulic fittings. “It runs a strong B2B strategy” and serves customers across agriculture, construction machinery and automotive sectors, supported by a product portfolio of more than 11,000 SKUs, the brokerage said. It added that the company’s backward-integrated manufacturing capabilities could help it scale capacity to meet rising domestic and international demand.
Hy-Tech Engineers IPO: Key Details
The Maharashtra-based company has revised its IPO size by trimming the fresh issue to Rs 60 crore from Rs 70 crore earlier. It has increased the offer-for-sale (OFS) component to nearly 1.43 crore shares from 1.19 crore shares earlier, as per the red herring prospectus (RHP).
Hy-Tech Engineers has fixed a price band of Rs 50-53 per equity share for its initial public offering. At the upper end of the price band, the company will fetch up to Rs 135.73 crore from the public issue.
The company has proposed to utilise Rs 29.96 crore from the net proceeds towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I, and Rs 16 crore will be used for repayment of loans.
The remaining amount will be used for general corporate purposes. Hy-Tech Engineers operates on a business-to-business model across both domestic and international markets, catering to original equipment manufacturers and other industrial customers.
New Berry Capitals Pvt Ltd is the sole book running lead manager for the IPO.
About the Author
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More
August 27, 2026, 07:41 IST
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