Hy-Tech Engineers, the hydraulic fittings manufacturer based in Maharashtra, has filed draft red herring prospectus with the SEBI to raise funds via initial public offering for its expansion and part-payment of debt.
The company has proposed to issue new shares worth Rs 70 crore via IPO, while promoters will be selling 1.19 crore shares via offer-for-sale (OFS).
Of the net fresh issue funds, the Rs 32 crore will be utilised for procurement of machinery and equipment for expansion at three units, Rs 18 crore for repayment of certain borrowings, and the remainder funds for general corporate purposes.
"As of July 2025, the total fund-based and non-fund based outstanding borrowings amounted to Rs 34 crore and Rs 8.2 crore, respectively," said Hy-Tech Engineers in its DRHP filed on September 4.
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The engineering company with hydraulic fittings products serves diverse application needs across industries such as construction, automotive, agricultural, injection moulding machines, and hydraulic systems.
Hy-Tech Engineers that competes with listed peers like Aeroflex Industries, Dynamatic Technologies, and Yuken India has reported net profit at Rs 19.6 crore in the financial year 2024-25, growing 69.2 percent compared to Rs 11.6 crore in the previous year. Revenue during the same period soared 17.2 percent to Rs 161.4 crore, up from Rs 137.7 crore.
The book running lead manager managing the HY-Tech Engineers IPO will be New Berry Capitals.
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