Pune: Hy-Tech Engineers Limited has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a significant step towards its forthcoming Hy-Tech Engineers IPO.
The company, with over four decades of operational expertise in the hydraulics industry, is engaged in the design, manufacture, and supply of hydraulic fittings for a wide range of industrial applications.
Hy-Tech Engineers IPO Details
The proposed Hy-Tech Engineers IPO comprises a fresh issue of shares worth up to ₹700 million (₹70 crore) and an Offer for Sale (OFS) of up to 1,19,33,120 equity shares.
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The OFS includes 75,00,000 equity shares offered by promoter Hemant Tukaram Mondkar and 44,33,120 equity shares offered by promoter Surekha Hemant Mondkar. New Berry Capital has been appointed as the sole Book Running Lead Manager for the issue.
The net proceeds from the fresh issue are earmarked for multiple purposes, including:
- Capital expenditure of ₹319.86 million towards machinery and equipment at the Kavathe, Shirwal, and Pithampur Unit-I facilities.
- Repayment/prepayment of outstanding borrowings amounting to ₹180 million.
- Funding general corporate requirements.
Market Growth Driving Demand
Hydraulic fittings, essential for connecting pipes, tubes, and hoses in hydraulic systems, play a crucial role in energy transmission under high pressure. Rising demand across agriculture, construction, aerospace, and material handling industries has strengthened the market outlook.
As per CareEdge Research (September 2025), the Indian hydraulic fittings market, which recorded a CAGR of 7.7% from CY19 to CY24, is projected to expand further at a CAGR of 10.4% between CY24 and CY30.
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Hy-Tech Engineers operates six manufacturing units in India, with four facilities located in Maharashtra and two in Madhya Pradesh.
