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Hydraulic fitting manufacturer HyTech Engineers Ltd has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO will include a fresh issue of equity shares worth INR 70 crore along with an offer for sale (OFS) of 1.19 crore equity shares by promoters. The company plans to use the net proceeds for expanding operations at its Kavathe, Shirwal, and Pithampur Unit-I facilities, repayment of debt, and other corporate needs. The shares are proposed to be listed on NSE and BSE, with New Berry Capitals acting as the sole book-running lead manager.
HyTech Engineers Ltd has submitted preliminary documents with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). As per the draft red herring prospectus (DRHP) filed in the past week, the IPO will comprise a fresh issue of equity shares amounting to INR 70 crore and an offer for sale (OFS) of 1.19 crore equity shares by the company's promoters. Advertisement
The company has stated in its filing that funds raised through the fresh issue will be directed towards acquiring new plant and machinery to enhance capacity at its Kavathe Unit, Shirwal Unit, and Pithampur Unit-I. A portion of the proceeds will also be used for repayment of existing borrowings and to meet general corporate purposes.
HyTech Engineers is involved in designing, manufacturing, and supplying hydraulic fittings used in industrial applications. These fittings play a vital role in hydraulic systems by connecting pipes, tubes, and hoses. The company caters to multiple industries, which include construction, automotive, agriculture, and manufacturing.
Industry trends indicate that the demand for hydraulic fittings in India has been expanding in line with the growth of core sectors. This rise in demand provides manufacturers like HyTech Engineers with opportunities to scale production and improve market reach.
New Berry Capitals has been appointed as the sole book-running lead manager for the issue. The company has proposed to list its equity shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Source PTI
5th Jun, 2025
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