Hy-Tech Engineers Limited IPO
ListedMainboardCapital Goods-Non Electrical Equipment
243.84×
Subscribed
Price band
₹53 – ₹53
Lot size
283
1 lot = ₹14,999
Issue size
₹135.73 Cr
Open – close
24 Aug 2026
to 27 Aug 2026
Listing
01 Sept 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong5 of 7 dimensions read
The disclosed numbers are strong — 3 of 5 signals read positive
Strength76/100
- Steady revenue growthRevenue compounding at 17.3%
- Adequate return on equityROE of 18.5%
- Conservative balance sheetDebt/equity of 0.24×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Institutions bid heavilyQIB portion subscribed 255.77×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens24 Aug 2026
- Closes27 Aug 2026
- Allotment28 Aug 2026
- Listing01 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB255.77x
Non-institutionalNII / HNI402.08x
Retail individualRII169.54x
Chance of allotment
Retail169.54× subscribed
~1 in 169.5
Minimum 1 lot · 283 shares · ₹14,999 blocked
Retail is 169.54× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 169.5 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII402.08× subscribed
~1 in 402.1
Minimum 14 lots · 3,962 shares · ₹2,09,986 blocked
HNI is 402.08× subscribed. This category is allotted proportionately, so a bid receives roughly 1/402.1 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹53 – ₹53
Face value₹5
Lot size283shares
Minimum application₹14,999at cut-off
Total issue size₹135.73 Cr
Listing atMainboard
Company & valuation
Return on equity18.52%
Debt / equity0.24×
ISININE0LEG01024
RegistrarBIGSHARE
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
What the money is for
Stated use of the net proceeds
- 01Funding the capital expenditure requirements towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I₹29.97 Cr
- 02Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company₹16 Cr
- 03General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 137.708 | — | 11.596 | 82.216 | — |
| 2025 | 161.382 | — | 19.619 | 101.251 | — |
| 2026 | 189.404 | — | 22.592 | 122.017 | — |
Revenue CAGR 17.3%PAT CAGR 39.6%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumConcentration of revenue from a few customers, with top 10 customers contributing 45.32%, 42.02% and 48.72% of revenue from operations in Fiscal 2026, 2025 and 2024 respectively. The share of total revenues attributable to the 10 largest customer groups has increased in Fiscal 2026 as compared to Fi
mediumSignificant portion of revenue derived from exports, which accounted for 29.37%, 28.30% and 33.14% of total revenues in Fiscal 2026, 2025 and 2024 respectively. A substantial portion of export revenue was generated from the United States of America, which contributed 21.42%, 22.85% and 24.56% of tot
mediumDependence on Hy-Tech USA Inc., a Promoter group member, for a significant portion of export revenue. Customers sourced by Hy-Tech USA Inc. contributed 17.88%, 19.80% and 20.61% of revenues from operations in Fiscal 2026, 2025 and 2024 respectively.
Litigation
Except as stated in this section, there are no outstanding (i) criminal proceedings (including matters which are at first information report stage) involving the Company, its Promoters and its Directors, the Key Managerial Personnel and Senior Management; (ii) actions taken by statutory or regulatory authorities against the Relevant Parties and Company Personnel; (iii) claims related to direct and indirect taxes against the Relevant Parties, in a consolidated manner; (iv) other pending litigation (including civil litigation or arbitration proceedings) as determined to be material pursuant to the Materiality Policy adopted by our Board in accordance with SEBI ICDR Regulations. There are no outstanding litigation proceedings involving our Group Companies that may have a material impact on our Company. There are no outstanding dues to creditors of our Company.
Positives the filing discloses (3)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Low leverage
Debt-to-equity of 0.24x.
Healthy return on equity
ROE of 18.5%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+11.1%
Listed up
6 of 8
Best
+90.0%
Shanti Inorganics
Worst
-0.7%
Mopshop Distribution
Gaja Alternative Asset Management Limitedsame segment
31.2× sub+15.6%
Juniper Green Energy Limitedsame segment
7.9× sub+8.9%
131.8× sub+90.0%
1.6× sub+0.0%
-0.7%
138.6× sub+22.1%
1.5× sub+6.9%
46.2× sub+13.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Hy-Tech Engineers Limited
Hy-Tech Engineers is an engineering company engaged in the design, manufacture, and supply of hydraulic fittings for industrial applications. Its product portfolio includes DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal (ORFS) fittings, conversion fittings, and fittings customised to customer specifications. As of March 31, 2026, the company had more than 11,000 SKUs catering to industries such as construction machinery, automotive, farming machinery, injection moulding machines, and hydraulic systems. It operates on a B2B model and supplies products to domestic and international customers through direct sales and a network of distributors and distribution partners. The company operates six manufacturing facilities in India, with four located in Maharashtra and two in Madhya Pradesh. Its facilities at Thane, Pithampur, Shirwal, and Kavathe manufacture hydraulic fittings, while its Nashik facility manufactures forged metal parts, primarily for captive consumption.
Founded 1978MD Mr. Hemant Tukaram MondkarSector Capital Goods-Non Electrical Equipment
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Hy-Tech Engineers Limited IPO subscribed?
Hy-Tech Engineers Limited is subscribed 243.84× overall (QIB 255.77×, NII 402.08×, retail 169.54×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, BIGSHARE.
What is the minimum investment in the Hy-Tech Engineers Limited IPO?
One lot is 283 shares, so a retail application at the ₹53 cut-off price blocks ₹14,999. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Hy-Tech Engineers Limited IPO?
The retail portion is subscribed 169.54×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 170. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Hy-Tech Engineers Limited IPO allotment date?
Allotment is scheduled for 2026-08-28, with listing on 2026-09-01. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, BIGSHARE.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.