Hy-Tech Engineers Files for Rs 70 Crore IPO, Eyes Expansion and Debt Reduction
Hy-Tech Engineers Ltd., a hydraulic fittings manufacturer, has filed its DRHP with SEBI for an IPO. The company aims to raise Rs 70 crore through a fresh issue of shares, with an additional offer for sale by promoters. Funds will be used for machinery expansion (Rs 32 crore) and debt repayment (Rs 18 crore). The company plans to list on NSE and BSE. Hy-Tech serves various industries, has a production capacity of 2.5 million fittings monthly, and exports to the USA and Europe. Its revenue grew from Rs 138 crore in FY 2024 to Rs 161 crore in FY 2025, with a consistent net profit of Rs 20 crore.
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Hy-Tech Engineers Ltd., a prominent manufacturer of hydraulic fittings, has taken a significant step towards going public by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to raise Rs 70.00 crore through a fresh issue of shares in its initial public offering (IPO).
IPO Structure and Listing Plans
The IPO will comprise a fresh issue of shares worth Rs 70.00 crore and an offer for sale (OFS) by the company's promoters, Hemant Tukaram Mondkar and Surekha Hemant Mondkar. The exact number of shares to be sold by the promoters will be determined later. Hy-Tech Engineers plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Fund Utilization
The company has outlined clear plans for the proceeds from the fresh issue:
- Rs 32.00 crore will be allocated for machinery and equipment expansion at its facilities in Shirwal, Kavathe, and Pithampur Unit-I.
- Rs 18.00 crore will be used for debt repayment and general corporate purposes.
As of July 31, Hy-Tech Engineers had total borrowings of Rs 34.00 crore in fund-based facilities and Rs 8.20 crore in non-fund-based facilities.
Company Profile and Operations
Established in 1978, Hy-Tech Engineers has built a strong reputation in manufacturing hydraulic fittings for various sectors. The company serves Original Equipment Manufacturers (OEMs) across multiple industries, including:
- Machine tools
- Earth-moving equipment
- Automobiles
- Farming sector
With a diverse product range of over 3,500 catalog items, Hy-Tech Engineers boasts a monthly production capacity of 2.5 million fittings. The company has also established a presence in international markets, exporting its products to the USA and Europe.
Financial Performance
Hy-Tech Engineers has demonstrated steady growth in recent years:
| Financial Year | Revenue (in Rs crore) | Net Profit (in Rs crore) |
|---|---|---|
| FY 2024 | 138.00 | 20.00 |
| FY 2025 | 161.00 | 20.00 |
The company's revenue increased from Rs 138.00 crore in FY 2024 to Rs 161.00 crore in FY 2025, showing a growth of approximately 16.67%. Net profit remained stable at Rs 20.00 crore during this period.
Next Steps
The IPO details, including the price band and issue dates, will be announced after SEBI approval. Investors and industry observers will be closely watching the developments as Hy-Tech Engineers progresses through the IPO process, given its established presence in the hydraulic fittings market and its plans for expansion.
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