Hy-Tech Engineers makes bumper debut, lists at 42% premium at Rs 75 on the NSE. The stock was listed at a 36% premium on the BSE at Rs 72.
The company set the issue price at Rs 53 a share.
The engineering company raised Rs 135.73 crores via a combination of 1.13 crore fresh shares totalling Rs 60 crore and an offer for sale of 1.43 crore shares aggregating to Rs 75.73 crore. The IPO bidding started on August 24 and ended on August 27. The allotment was finalised on August 28.
A retail applicant had to apply for a minimum of one lot that contained 283 shares. The minimum amount of investment required by an individual investor was Rs 14,999.
New Berry Capitals was the book-running lead manager for the IPO, and Bigshare Services was the registrar of the issue.
Hy-Tech Engineers is an engineering company engaged in the design, manufacture and supply of hydraulic fittings for diverse industrial applications. With over four decades of experience in the hydraulics industry, the company offers a portfolio of more than 11,000 SKUs, including DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal (ORFS) fittings, conversion fittings and customised hydraulic fittings.
Incorporated in December 1978, the company operates on a B2B model across domestic and international markets, serving OEMs and industrial customers through direct sales as well as authorised distributors and distribution partners.
Its products cater to industries including construction machinery, automotive, farming machinery, injection moulding machines and hydraulic systems, while certifications for railway and defence applications further expand its market reach.