Hy-Tech Engineers shares list at 41.5% premium on NSE; here's how much investors made per lot

Shares of hydraulic fitting manufacturer Hy-Tech Engineers Ltd made a blockbuster debut on the stock exchanges on Tuesday, September 1.

The stock is listed at ₹75 per share on the National Stock Exchange (NSE). This reflects a premium of 41.51% over the IPO issue price of ₹53 per share.

On the BSE, it started trading at ₹72 apiece, up 35.85% from the issue price.

Hy-Tech Engineers share price: Here's how much investors made per lot

The initial public offering was subscribed a massive 244.41 times, as it secured bids for 4,43,49,70,542 shares versus 1,81,45,406 shares on offer, as per the data available on the NSE website.

The ₹135.73 crore initial share sale consisted of a fresh issuance of shares valued at ₹60 crore and an offer for sale (OFS) of ₹75.73 crore by promoters Hemant Tukaram Mondkar and Surekha Hemant Mondkar jointly with Hemant Tukaram Mondkar.

The money raised will be utilised for funding capital expenditure needs for procurement of equipment and machinery, debt clearance and corporate general purposes.

"We expect to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of company’s brand name and creation of a public market for our equity shares in India," the company said in its red herring prospectus (RHP).

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

Hy-Tech Engineers makes hydraulic fittings for diverse industrial applications for both domestic and international markets.