Hy-Tech Engineers’ initial public offering (IPO) is set to open on August 24, 2026, with a price band of Rs 50-53 per share. The company plans to raise Rs 136 crore at the upper end of the price band.
The IPO comprises a fresh issue of around 1.13 crore shares worth Rs 60 crore and an offer for sale of around 1.43 crore shares worth Rs 76 crore.
The minimum lot size is 283 shares, and the minimum investment works out to Rs 14,999 for one lot at the upper price band of Rs 53 per share.
The IPO will close on August 27, 2026.
The shares will be listed on both the National Stock Exchange and the BSE on September 1, 2026. New Berry Capitals Private Ltd. is the book running lead manager to the IPO, while Bigshare Services Private Ltd. is the registrar to the issue.
The company plans to use proceeds from the fresh issue primarily for capital expenditure to procure machinery and equipment for expansion at its Kavathe, Shirwal, and Pithampur Unit-I facilities. They also plan to use the proceeds for repayment or prepayment of certain outstanding borrowings and general corporate purposes.
Hy-Tech Engineers will deploy around Rs 29.97 crore from net proceeds towards the proposed capacity expansion.
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Hy-Tech Engineers’ revenue from operations increased to Rs 189.4 crore in FY26 from Rs 161.4 crore in FY25 and Rs 137.7 crore in FY24.
Ebitda rose to Rs 41.7 crore from Rs 35.8 crore and Rs 22.6 crore, respectively. Profit after tax increased to Rs 22.6 crore in FY26, versus Rs 19.6 crore in FY25 and Rs 11.6 crore in FY24.
Ebitda margin stood at 22% in FY26, while PAT margin was 12%.
Hy-Tech Engineers has integrated operations and product development capabilities, a diversified customer base, and an established global presence.
However, one of the key risks is customer concentration, with the company’s top 10 customers accounting for 45.32% of FY26 revenue. Exports contributed 29.37% of FY26 revenue, with the US alone accounting for 21.42%, leaving the business exposed to foreign-exchange movements and key clue overseas market conditions.
The top 10 suppliers accounted for 65.61% of FY26 purchases, while manufacturing operations are also geographically concentrated in Maharashtra and Madhya Pradesh.
Brokerage firm Anand Rathi recommends a “Subscribe – Long Term” rating to the IPO, citing the company’s growth prospects and established market presence. At the upper price band, Hy-Tech Engineers is valued at a P/E of 22.25 times FY26 earnings and EV/EBITDA of 12.15 times, with an implied post-issue market capitalization of around Rs 502.7 crore.
