HyTech Engineers files for ₹70 crore IPO: Details here
Business
HyTech Engineers, known for making hydraulic fittings used across industries, recently filed for an IPO with SEBI.
They're looking to raise ₹70 crore through new shares, while promoters will sell 1.19 crore existing shares.
The money will help them expand factories in Kavathe, Shirwal, and Pithampur, pay off some debt, and cover general business needs.
The demand for hydraulic fittings is on the rise
With sectors like manufacturing, construction, automotive, and agriculture experiencing significant growth in India right now, demand for hydraulic fittings is rising.
HyTech is going public—New Berry Capitals is managing the IPO process—and aims to get listed on both NSE and BSE.