Hy-Tech Engineers IPO subscribed 2.61 times so far on Day 1: Check price band, lot size and key dates

Hydraulic fitting manufacturer Hy-Tech Engineers' ₹135.73 crore initial public offering opened for subscription on Monday, August 24. The issue will end on August 27. The price band has been fixed at ₹50 to ₹53 per share.

The initial share sale is a mix of fresh issuance of shares valued at ₹60 crore and an offer for sale of ₹75.73 crore by promoters Hemant Tukaram Mondkar and Surekha Hemant Mondkar jointly with Hemant Tukaram Mondkar.

The Maharashtra-based company will use funds to the tune of ₹29.96 crore for procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I, and ₹16 crore will be utilised for repayment of loans. A part will also be used for general corporate purposes.

Hy-Tech Engineers IPO Day 1: Subscription status

The issue has been subscribed 2.61 times so far on Day 1, with bids for 4,73,64,295 shares compared to 1,31,24,929 shares on offer, according to the NSE data until 12:01 pm.

Hy-Tech Engineers IPO: Lot size

Bids can be made for at least one lot consisting of 283 shares and in multiples thereof by retail investors.

Hy-Tech Engineers IPO: Allotment and listing date

Before the IPO, the company raised ₹40.72 crore from anchor investors, including WhiteOak Capital Asset Management, Winro Commercial (India), Ashika Global Finance and Varanium Emerging Fund, among others.

Hy-Tech Engineers operates on a business-to-business (B2B) model across both domestic and international markets, catering to original equipment manufacturers and other industrial clients. It has six manufacturing facilities across the country.

On the financial front, the company reported revenue from operations of ₹189.40 crore and a net profit of ₹22.59 crore in FY26.

The company's shares will debut on the BSE and the NSE.

New Berry Capitals Private Limited is the sole book-running lead manager for the IPO, while Bigshare Services is the registrar.