6 days ago

Three IPOs Draw Strong Demand as Subscriptions Close

Three companies offered shares to the public through IPOs.

The IPOs were Skyways Air Services, Symbiotec Pharmalab and Hy-Tech Engineers.

Their subscription periods ended on August 27, 2026.

Investors requested many more shares than the companies offered.

Hy-Tech Engineers received the strongest demand, with more than 114 times subscription overall by midday.

Skyways and Symbiotec were each subscribed about 14 times.

The companies said they would use some of the money for debt repayment, expansion or working capital.

Hy-Tech Engineers plans to list its shares on the BSE and NSE on September 1.

Key facts

Skyways subscription: 14.40 times by 12:27 p.m.; QIB portion 0.98 times, NII portion 32.10 times and retail portion 14.45 times.
Symbiotec subscription: 13.86 times; QIB portion 4.21 times, NII portion 39.12 times, retail portion 8.57 times and employee portion 9.77 times.
Hy-Tech subscription: 114.06 times by 12:30 p.m.; QIB portion 18.08 times, NII portion 234.30 times and retail portion 114.69 times.
Skyways price band: ₹131-138 per share; the company raised ₹174.5 crore from anchor investors.
Symbiotec price band: ₹938-988 per share; the company mobilised ₹526 crore from anchor investors.
Hy-Tech IPO size: ₹135.73 crore, comprising a ₹60-crore fresh issue and an offer-for-sale of nearly 1.43 crore shares.
Hy-Tech use of proceeds: ₹29.96 crore is earmarked for machinery and equipment for expansion, while ₹16 crore is intended for loan repayment.

thehindubusinessline.com · 6 days ago