2 weeks ago
HY Tech Engineers Sets ₹50–₹53 IPO Price Band
HY Tech Engineers is offering shares to the public through an IPO.
Each share will cost between ₹50 and ₹53.
People can apply for shares from August 24 to August 27.
The company plans to raise ₹60 crore through new shares.
Existing shareholders may also sell up to 1.42 crore shares.
The money will help buy machines and expand several production units.
Some money will also be used to repay loans.
The shares are expected to be listed on BSE and NSE on September 1.
HY Tech Engineers has fixed its IPO price band at ₹50–₹53 per share, with a ₹5 face value.
The IPO will remain open for subscription from August 24 to August 27.
The issue includes a ₹60 crore fresh issue and an offer for sale of up to 1.42 crore shares.
IPO allotment is scheduled for August 28, with listing expected on BSE and NSE on September 1.
Proceeds will fund machinery purchases, facility expansion, debt repayment and general corporate purposes.
- Who
- HY Tech Engineers, a manufacturer of hydraulic fittings.
- What
- The company has announced the price band and schedule for its IPO.
- Where
- The shares are expected to list on BSE and NSE; the company operates facilities in Thane, Shirwal, Nashik and Pithampur.
- When
- Subscription is scheduled for August 24–27; allotment is expected on August 28, and listing on September 1.
- Why
- The proceeds will support capital expenditure, machinery procurement, expansion, repayment of borrowings and general corporate purposes.
Key facts
- IPO price band
- ₹50–₹53 per share
- Face value
- ₹5 per share
- Subscription period
- August 24 to August 27
- Fresh issue
- ₹60 crore
- Offer for sale
- Up to 1.42 crore equity shares
- Expected listing
- September 1 on BSE and NSE
- Company founded
- Established in 1978
- Product range
- More than 3,500 products and over 10,000 fitting variants
Sources
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