Hy-Tech Engineers Files DRHP for IPO

Hy-Tech Engineers, the manufacturer of hose adaptors and hydraulic fittings headquartered in Thane, has filed its draft red herring prospectus (DRHP) with the SEBI (Securities and Exchange Board of India) for its initial public offering (IPO). 

The company seeks to raise ₹70 crore with a fresh issue of shares, while the promoters will also offer 1,19,33,120 equity shares for sale. 

The promoters of the company are Hemant Tukaram Mondkar and Surekha Hemant Mondkar. 

Hy-Tech Engineers IPO Details

According to the DRHP, 

• The Hy-Tech Engineers IPO is a 100% book-building IPO that proposes to issue fresh shares up to ₹70 crore at a face value of ₹5 each. There is also an offer-for-sale (OFS) of up to 1,19,33,120 equity shares by the promoters. 
• The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
• Promoter Hemant Tukaram Mondkar will sell up to 75,00,000 equity shares, and Surekha Hemant Mondkar, jointly with Hemant Tukaram Mondkar, will offload up to 44,33,120 equity shares.
• The company will not receive any proceeds from the offer for sale, according to the DRHP.
• The book running lead manager for the IPO is New Berry Capitals Pvt Ltd.
• Bigshare Services Pvt. Ltd is the registrar for the Hy-Tech Engineers Ltd IPO.

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Utilisation of Proceeds

The company proposes to utilise the net proceeds from the fresh issue for the following purposes: 

• Capital expenditure of ₹319.86 million at the facilities in Kavathe, Shirwal and Pithampur Unit-I, along with new equipment purchases.
• Repayment or prepayment of borrowings in FY26 of ₹180 million. 
• General corporate purposes.

About Hy-Tech Engineers Ltd

Incorporated in 1978, Hy-Tech Engineers is a leading manufacturer of hydraulic fittings and other precision engineering products. It has manufacturing facilities at Shirwal, Kavathe and Pithampur. 

Headquartered in Thane, Maharashtra, the company produces more than 10,000 varieties of hydraulic fittings. These include JIC, DIN and O-ring face-seal fittings for both domestic and global markets. 

Hy-Tech Engineers Ltd posted revenues of ₹10,563.13 million in FY25, while its EBITDA went up to ₹1,244.81 million in FY25. The PAT (profit after tax) of the company also increased to ₹779.23 million in FY25.

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