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Hy-Tech Engineers IPO

Hy-Tech Engineers IPO

Engineering
open
₹14,150Min. investment
  1. Pre-apply
    21 Aug
  2. Bid start
    24 Aug
  3. Bid end
    27 Aug
  4. Allotment
    28 Aug
  5. Release of funds
    31 Aug
  6. Demat transfer
    31 Aug
  7. Listing
    1 Sep

Hy-Tech Engineers Limited IPO Details

SectorEngineering
Price range₹50.00 – ₹53.00
IPO type
Regular
Lot size283 shares
Issue size₹136Cr
Red Herring Prospectus
Read
Market Cap
₹502.7CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹189.4CrLower than sector avg
Growth rate3Y CAGR
17.28%Higher than sector avg

Hy-Tech Engineers Limited IPO Overview

Hy-Tech Engineers Limited IPO open date

Hy-Tech Engineers IPO will open for subscription on August 24, 2026, and the closing date for the IPO is August 27, 2026. After this, investors are expected to be updated about the allotment status on August 28, 2026.

Investors who have been allotted shares can expect them to be credited to their demat account on August 31, 2026. The shares will be listed on the NSE and the BSE on Tuesday, September 1, 2026.

Hy-Tech Engineers Limited IPO price band

The IPO includes fresh issue and offer for sale. The IPO price band has been set between ₹50 to ₹53 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising a fresh issue of ₹60 crore and an offer for sale of ₹75.73 crore only. Hy-Tech Engineers Limited IPO listing price will be determined on September 1, 2026. The listing price is the price at which a company’s shares debut on the stock exchanges.

Hy-Tech Engineers IPO lot size

Hy-Tech Engineers Limited IPO details have been declared. The minimum lot size for an application is 283 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹135.73 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹189.4Cr
This sector
₹342.41Cr
Compare with companies
3Y growth
Strong 3-year growth shows consistent progress and potential
This IPO
17.28%
This sector
0.01%
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹22.59Cr
This sector
₹38.53Cr
Compare with companies
Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹502.7Cr
This sector
₹1,862.48Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
19.63
This sector
31.54
Compare with companies
D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.24
This sector
0.53
Compare with companies

Objectives

Capital expenditure
49.90%
Repayment of borrowings
26.60%
General corporate purposes
23.30%

Strength and Weakness

Integrated operations

The company has backward integrated its manufacturing operations with the Nashik Unit manufacturing forged components which are used at its other facilities. This in-house integration also means less reliance on outside suppliers, while enabling cost efficiency, lead time reduction and quality control.

Product development capabilities

The Company developed 880 new SKUs in FY26, 1,676 in FY25 and 2,206 in FY24, highlighting the Company’s ability to develop products based on customers’ needs. The company’s manufacturing operations include die design, forging, heat treating, machining, plating, inspection and testing. Most processes are performed in-house and supported by in-house design capabilities.

Cell-based manufacturing model

The company operates a cell-based manufacturing model where operations are broken down into smaller, self-contained cells targeting specific customer needs or product categories.

Diversified customer base

The Company's B2B model combines direct customer engagement with a distributor network, with 170 direct customers and 7 active distributors and distribution partners as of March 31, 2026. This provides exposure across multiple sales channels and industry verticals.

International presence

Overseas sales have contributed meaningfully to the Company's revenue over the last three fiscals, accounting for 29.37% of total revenue in FY26. The Company has been appointed as the exclusive distributor through Promoter Group entity Hy-Tech USA Inc. for North America, Canada and Brazil, which accounted for 3.54% of revenue in FY26.

About Hy-Tech Engineers Limited

Hy-Tech Engineers is an engineering company with over four decades of experience in the hydraulics industry. The company is involved in the design, manufacture and supply of hydraulic fittings for various industrial applications.
The company operates in domestic and international markets, on a business-to-business (B2B) basis, serving original equipment manufacturers (OEMs) and other industrial customers through direct sales and through a network of authorised distributors and distribution partners. The company’s product portfolio, by FY26, includes more than 11,000 SKUs of hydraulic fittings, including standard DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal (ORFS) fittings and conversion fittings, as well as fittings customised to customer specifications.
Hy-Tech Engineers operates six manufacturing facilities, comprising four facilities in Maharashtra at Thane, Shirwal, Kavathe and Nashik and two facilities in Madhya Pradesh at Pithampur Unit-I and Pithampur Unit-II, with a combined built-up area of approximately 32,886.86 sq. mtrs. The Nashik Unit is dedicated to forging and is part of the company's backward integration strategy, supplying forged components to its other manufacturing facilities.
As of March 31, 2026, the company had a total installed capacity of 483.00 lakh pieces per annum of hydraulic fittings across its manufacturing facilities and the Nashik facility had an installed capacity of 3,120 metric tonnes per annum for forged metal parts. The Shirwal Unit had a capacity of 144 lakh pieces with capacity utilisation of 70.81%, the Kavathe Unit had a capacity of 192 lakh pieces with capacity utilisation of 60.4%, and Pithampur Unit-I had a capacity of 52 lakh pieces with capacity utilisation of 84.6%. Actual production increased to 32,700,000 pieces per annum in FY26 from 28,800,000 pieces in FY25 and 24,800,000 pieces in FY24, supported by scaling of production across its manufacturing facilities. Capacity utilization increased to 70.55% in FY26 from 66.86% in FY25.
During FY26, direct sales contributed 88.4% of total revenue, comprising domestic sales of ₹118.57 crore or 62.6% and overseas sales of ₹48.91 crore or 25.8% while the distributor channel contributed 11.58% of total revenue, comprising domestic sales of ₹15.22 crore and overseas sales of ₹6.71 crore. The Company has an international presence across markets including the USA, Belgium, Poland, Russia, Brazil, Italy, Saudi Arabia, Hungary, UAE, Thailand and Germany. During FY26, the USA was the largest international market, contributing ₹40.58 crore or 21.4% of revenue, followed by Belgium at ₹11.63 crore or 6.14%. Domestic revenue stood at ₹133.78 crore, representing 70.63% of revenue, while overseas revenue contributed ₹55.62 crore or 29.37% in FY26.
The company's revenue is diversified across multiple end-use industries, with construction machinery contributing 22.94% of revenue in FY26, followed by farming machinery at 22.83%, automotive at 9.05%. During FY26, the Company supplied products to 170 direct customers, including OEMs, compared to 144 in FY24. The top 10 customers have been associated with the Company for an average of more than 3 years. The top 3 customers contributed 22.89% of total revenue, while the top 10 customers contributed 45.32% in FY26. The Company also had 114 repeat customers in FY26, which generated revenue of ₹180.08 crore, representing 95.10% of consolidated revenue from operations.
The hydraulic fittings market in India grew at a CAGR of 10% between CY21 and CY25 and is expected to grow at a higher CAGR of 11% between CY26 and CY31. Globally, Asia is expected to record a CAGR of 9.2% between CY26 and CY31, followed by Europe at 8.6%, USA at 8.2% and Middle East at 10.1%. Increasing adoption of automation, rising investments in renewable energy projects, growing demand for durable and corrosion-resistant hydraulic components, increasing local manufacturing, availability of cost-effective solutions and technological advancements including integration of IoT and smart sensors drives the growth of the hydraulic fittings market. The hydraulic fittings market in the USA grew at a CAGR of 7.5% between CY21 and CY25 and is expected to grow at 8.2% between CY26 and CY31, while the European market grew at 7.8% and is expected to grow at 8.6% during the respective periods.
The company intends to increase manufacturing capacity at the Shirwal Unit by 45%, Kavathe Unit by 41.25% and Pithampur Unit-I by 83.08% through installation of high-precision machinery, including CNC Turning center, thread rolling machine and CNC vertical machining center. According to the CARE Report, the Indian hydraulic fittings industry is largely dominated by small and medium enterprises (SMEs), with only a few large players. The presence of several unorganized players, representing more than 90% of the industry, contributes to high competitive intensity. The company’s experience in manufacturing precision components, established manufacturing processes and long-standing relationships with customers and suppliers provide it with competitive strength in the market.
Now, Hy-Tech Engineers is launching its initial public offering (IPO), which consists of a fresh issue of ₹60 crore and an offer for sale of ₹75.73 crore. The total issue size of the IPO is ₹135.73 crore. Its shares will be listed on the NSE and BSE.

How to apply for Hy-Tech Engineers IPO?

If you are interested in this investment opportunity but unsure how to apply for Hy-Tech Engineers IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Hy-Tech Engineers IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Hy-Tech Engineers IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

Frequently asked questions

Investors can apply for the Hy-Tech Engineers IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Hy-Tech Engineers IPO is 136 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Ipo opens on 24 Aug 2026, 10:00 AM