Bengaluru: Hy-Tech Engineers Limited (“The Company”) has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The company is engaged in the design, manufacture and supply of hydraulic fittings catering to diverse industrial applications.
Hydraulic fittings are primarily used in hydraulic systems to connect pipes, tubes, and hoses that supports the transmission of energy produced by the hydraulic fluid and help maintain high pressure conditions.
The increasing adoption of technologically advanced machines across various industries such as agriculture, construction, material handling, and aerospace is expected to drive growth in the hydraulic fittings market. In India, the hydraulic fittings market has grown at a CAGR of 7.7% between CY19 and CY24 and is projected to expand at a higher CAGR of 10.4% from CY24 to CY30 (Source: CareEdge Research, Sept 2025)
The company plans to raise fund through an Initial Public Offering. The total offer size of comprises of Fresh Issue aggregating up to ₹ 700 million (70 crore) and an Offer-For-Sale aggregating Up to 1,19,33,120 equity shares. (“Total Offer Size”)
The company proposes to utilize the Net Proceeds towards (i) Funding capital expenditure requirement of Company towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and procurement Pithampur Unit-I estimated to be ₹ 319.86 million [₹ 31.98 crore]; (ii) Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company estimated to be ₹180 million [₹18 crore] and the balance amount towards general corporate purposes. (“Objects of the Offer”)
The offer for sale comprises of Equity shares aggregating up to 75,00,000 Equity Shares by Hemant Tukaram Mondkar and up to 44,33,120 Equity Shares by Surekha Hemant Mondkar (Promoter Selling Shareholder).
New Berry Capital is the sole Book Running Lead Manager for the Offer.
