365telugu.com online news,september 8th,2025: Hy-Tech Engineers Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking the first step towards launching its Initial Public Offering (IPO).

The company specializes in the design, manufacture, and supply of hydraulic fittings that serve a wide range of industrial applications. These fittings are essential components in hydraulic systems, connecting pipes, tubes, and hoses to enable the transfer of hydraulic fluid while withstanding high-pressure conditions.

Industry reports highlight that the hydraulic fittings market in India has witnessed a steady CAGR of 7.7% between CY2019 and CY2024, with growth projected to accelerate to 10.4% CAGR between CY2024 and CY2030 (Source: CareEdge Research, Sept 2025).

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This momentum is supported by increasing adoption of advanced machinery across sectors such as agriculture, construction, material handling, and aerospace.

The proposed IPO will comprise a Fresh Issue of shares aggregating up to ₹700 million (₹70 crore) and an Offer for Sale (OFS) of up to 1,19,33,120 equity shares, collectively forming the total offer size.

The company intends to utilize the net proceeds from the fresh issue for:

  • Funding capital expenditure towards procurement of machinery and equipment for its Kavathe, Shirwal, and Pithampur Unit-I facilities (₹319.86 million),
  • Partial or full repayment/prepayment of certain borrowings (₹180 million), and
  • General corporate purposes.

The Offer for Sale will include up to 75,00,000 equity shares by Hemant Tukaram Mondkar and up to 44,33,120 equity shares by Surekha Hemant Mondkar, both promoter selling shareholders.

New Berry Capital has been appointed as the sole Book Running Lead Manager for the issue.