Hy-Tech Engineers Files DRHP with SEBI for IPO; Plans Fresh Issue of ₹700 Million and OFS of 1.19 Crore Shares

Mumbai, September 5, 2025 — Hy-Tech Engineers Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for making an Initial Public Offering (IPO) consisting of a fresh issue of equity shares aggregating up to ₹700 million and an offer for sale (OFS) of up to 11,933,120 equity shares by its promoters.

The equity shares of the company have a face value of ₹5 per share and are to be listed on both the NSE and the BSE. The issue shall be made through 100% book-building.

Founded in 1978 and based out of Thane, Maharashtra, Hy-Tech Engineers is a prominent hydraulic fittings and precision engineering product manufacturer with domestic and overseas presence. The company has manufacturing facilities at Kavathe, Shirwal, and Pithampur.

Offer Structure

The public issue will comprise fresh equity shares and an offer for sale. The fresh issue is likely to mobilise ₹700 million, and the offer for sale will consist of 11,933,120 equity shares, out of which 7,500,000 shares are being offloaded by Hemant Tukaram Mondkar and 4,433,120 shares by Surekha Hemant Mondkar together with Hemant Tukaram Mondkar. Every share has a face value of ₹5. The issue is being handled by New Berry Capitals Pvt Ltd as the Book Running Lead Manager, while Bigshare Services Pvt Ltd is appointed as the registrar. Upon completion, the shares of the company will be listed on both NSE and BSE.

Objects of the Issue

The company intends to use the net proceeds of the fresh issue largely for financing its growth and reinforcing its balance sheet. A total of approximately ₹319.86 million will be allocated for capital expenditure at its facilities located at Kavathe, Shirwal, and Pithampur Unit-I, which will be used to purchase new equipment and machinery. ₹50 million of this will be utilized in FY26, and the rest, i.e., ₹269.86 million, will be utilized in FY27. Apart from that, the company plans to utilize ₹180 million for repayment/prepayment of borrowings in FY26. The remainder of the proceeds will be utilized for general corporate purposes during FY26–27.

Promoter Shareholding

As of September 3, 2025, the three promoters of the company collectively control a commanding 97.99% stake in its equity. The single most significant holding is held by Hemant Tukaram Mondkar, who has 54,137,840 shares, which constitute 64.81% of the company’s equity. Surekha Hemant Mondkar, along with Hemant Tukaram Mondkar, holds 20,737,920 shares, which constitute 24.83%, while Ashwin Hemant Mondkar holds 6,976,080 shares, which equate to 8.35%. Collectively, the three promoters hold 81,851,840 shares, highlighting their commanding majority ownership.

Financial Highlights (Consolidated)

The company has posted consistent growth in the past three financial years. Total revenue increased from ₹7,933.60 million in FY23 to ₹9,553.23 million in FY24, and then to ₹10,563.13 million in FY25, reflecting consistent top-line growth. At the operating level, EBITDA increased from ₹1,029.43 million in FY23 to ₹1,134.72 million in FY24, and rose to ₹1,244.81 million in FY25, depicting strong operating performance.

Profit after tax (PAT) also showed a similar increasing trend, going up from ₹618.07 million in FY23 to ₹704.62 million in FY24, and up to ₹779.23 million in FY25. Net worth of the company also improved considerably, going from ₹3,793.10 million in FY23 to ₹4,497.83 million in FY24, and again to ₹5,273.90 million in FY25, indicating a better balance sheet position year to year.

REF: https://nsearchives.nseindia.com/corporate/Registration_05092025070634_HyTechEngineersDRHP.pdf

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