Hy-Tech Engineers opens IPO to raise ₹135.73cr at ₹50-₹53
Hy-Tech Engineers, known for its hydraulic fittings and decades of industry experience, just kicked off its IPO.
It is aiming to raise ₹135.73 crore, with shares priced at ₹50-₹53 each (minimum bid: 283 shares).
The subscription window is open until August 27.
Anchor investors have committed ₹40.72cr
The IPO has both a fresh issue and an offer-for-sale, split between institutional buyers (50%), retail investors (35%), and others. It has already pulled in ₹40.72 crore from anchor investors like WhiteOak Capital. Funds will go toward expanding its facilities, paying off some debt, and general corporate purposes.
Anand Rathi recommends "Subscribe - Long Term," while Master Capital Services says investors may consider the IPO as a potential long-term investment opportunity.
They see Hy-Tech's strong market presence and diverse product lineup as signs of solid long-term growth in industries like construction, automotive, agriculture, railways, and defense.