Hy-Tech Engineers IPO
Hy-Tech Engineers IPO is a mainboard IPO raising ₹136 Cr at ₹50 – ₹53 a share. It listed on 1 Sept 2026 at ₹75, +41.5% against its issue price of ₹53, and trades at ₹82 today (+53.8% since issue). It was subscribed 244× in total.
244.4 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
56% of this issue is existing shareholders cashing out. Only ₹60 Cr reaches the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs53. Checked: exchange issue size Rs136 Cr vs derived Rs135.7 Cr (0.2% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 82% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Aeroflex Industries Limited | 107.04× | 14.06% | ₹4.28 |
| Dynamatic Technologies Limited | 230.32× | 7.89% | ₹47.73 |
| Yuken India Limited | 69.32× | 4.27% | ₹10.81 |
| This issue | 19.6× | 20.24% | ₹2.7 |
derived: cut-off price Rs53 / stated EPS Rs2.7 (FY26 (year ended March 31, 2026) diluted EPS, restated consolidated, per Ind-AS 33). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.