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Listed
Industrial Manufacturing
Hy-Tech Engineers Limited IPO
₹136 Cr · Fresh Issue & OFS · Industrial Manufacturing
Price Band
₹50 – ₹53
Lot: 1200 shares (₹63,600)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹136 Cr
Fresh Issue & OFS
Market Cap
₹502.72 Cr
At upper band
P/E Ratio
22.3x
P/S: 2.7x
Listing Date
01 Sep 2026
BSE & NSE
IPO Timeline
✓
Opens
24 Aug 2026
✓
Closes
27 Aug 2026
✓
Allotment
28 Aug 2026
✓
Refund
31 Aug 2026
✓
Listing
01 Sep 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.97× sector midpoint with strong PAT growth of 39.5% CAGR and an EBITDA margin of 22.18%, indicating operational efficiency. Key risk is the 55.8% OFS component, which signals promoter partial exit and dilutes fresh capital deployment for growth.
Listing Performance
Issue Price
₹53
Allotment price
Listing Price
₹72
+35.85% on listing day
Current Price (CMP)
₹79.6
+50.2% vs issue
Listed On
01 Sep 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Strong profit acceleration and margins
Net profit grew 39.5% over two years (₹11.6 Cr to ₹22.6 Cr) while revenue CAGR was 17.1%, showing operating leverage. EBITDA margin of 22.18% and ROCE of 20.46% demonstrate efficient capital deployment and competitive positioning in industrial manufacturing.
✓ Strength
Valuation at sector parity with growth premium
P/E of 22.3× is exactly 0.97× the sector midpoint of 23×, placing the company at fair value despite 39.5% PAT CAGR. The 11.9% NPM is below the 15% threshold for premium valuation, but the profit growth trajectory justifies entry at midpoint pricing.
⚠ Risk
High OFS dilutes capital for capex
55.8% of the ₹136 Cr issue is OFS (secondary sale), meaning only ~₹60 Cr flows to the company for capex and debt repayment. This limits the company's ability to fund the stated ₹29.97 Cr machinery expansion and debt reduction simultaneously, potentially constraining near-term growth.
⚠ Risk
Promoter stake reduction post-listing
Promoter holding drops from 97.99% to 71.23% post-issue, a 26.76 percentage point dilution. While still majority-held, the sharp reduction combined with high OFS may signal promoter confidence concerns or liquidity needs rather than growth optimism.
₹ Valuation
Fair valuation at sector midpoint
P/E of 22.3× sits at 0.97× the Manufacturing/Engineering sector midpoint (18–28× range), indicating fair pricing. P/S of 2.7× is reasonable for a profitable, growing industrial manufacturer, though the 11.9% NPM leaves no margin-expansion buffer for premium multiples.
👁 Watch
Monitor capex execution and debt reduction
Track quarterly capex deployment at the three stated units and actual debt repayment against stated use of proceeds. Delays or shortfalls would signal execution risk and justify downward re-rating, especially given the limited fresh capital inflow (45% of issue only).
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Hy-Tech Engineers Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹189.40 Cr
Net Profit
₹22.59 Cr
Industry
Industrial Manufacturing
Issue Type
Fresh Issue & OFS
Promoters
HEMANT TUKARAM MONDKAR, SUREKHA HEMANT MONDKAR AND ASHWIN HEMANT MONDKAR
Lead Managers
New Berry Capitals
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.97× sector midpoint with strong PAT growth of 39.5% CAGR and an EBITDA margin of 22.18%, indicating operational efficiency. Key risk is the 55.8% OFS component, which signals promoter partial exit and dilutes fresh capital deployment for growth.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 1200 shares. At the upper band price of ₹53, the minimum investment per retail application is ₹63,600. You can apply for up to 13 lots (₹826,800) under the retail category (up to ₹2 lakh).
The IPO opens on 24 Aug 2026. It closes on 27 Aug 2026. Allotment is expected on 28 Aug 2026. Refunds initiate on 31 Aug 2026. Listing on BSE and NSE is on 01 Sep 2026.
The lead managers for the IPO are New Berry Capitals. Check the SEBI filing for the registrar details.
The IPO listed on 01 Sep 2026 at ₹72 against an issue price of ₹53 (+35.85% on listing day). The current market price (CMP) is approximately ₹79.6 (+50.2% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 27 Aug 2026. The minimum investment is ₹63,600 for one lot (1200 shares). The company trades at 0.97× sector midpoint with strong PAT growth of 39.5% CAGR and an EBITDA margin of 22.18%, indicating operational efficiency. Key risk is the 55.8% OFS component, which signals promoter partial exit and dilutes fresh capital deployment for growth.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 27 Aug 2026. The IPO is priced at a P/E of 22.3x. Market cap at issue price is ₹502.72 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 1200 shares at ₹53 each, costing ₹63,600 per application. The issue closes on 27 Aug 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Hy-Tech Engineers Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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