Hy-Tech Engineers Ltd’s initial public offering opened for subscription on Monday, August 24, with a price band fixed at Rs 50 to Rs 53 per equity share.
The issue will remain open until August 27, giving investors a four-day window to apply before the book-building process closes.
The IPO comprises a fresh issue of shares worth Rs 60 crore and an offer for sale worth Rs 75.73 crore, taking the total issue size to Rs 135.73 crore.
The minimum lot size for retail investors is 283 shares, translating to a minimum investment of roughly Rs 14,999 at the upper end of the price band.
Allotment for the issue is expected to be finalised on August 28, with the stock tentatively scheduled to list on both the NSE and BSE on September 1.
Hy-Tech Engineers is among several companies tapping India’s primary market this week, with five mainboard and five SME offers scheduled across the August 24 to September 1 window.
Hy-Tech Engineers is among several companies tapping India’s primary market this week, with five mainboard and five SME offers scheduled across the August 24 to September 1 window.
Grey market premium, an informal indicator of listing-day sentiment, has moved from Rs 5 on August 19 to around Rs 22-25 in the days leading up to the opening, though it is not a guaranteed outcome and can change before listing.
IPO proceeds from the fresh issue portion are typically used by companies for working capital requirements, debt repayment, or funding expansion plans, details of which are laid out in the company’s prospectus.
The IPO comprises a fresh issue of shares worth Rs 60 crore and an offer for sale worth Rs 75.73 crore, taking the total issue size to Rs 135.73 crore.
The minimum lot size for retail investors is 283 shares, translating to a minimum investment of roughly Rs 14,999 at the upper end of the price band.
Photo by Niyantha Shekhar, Wikimedia Commons, CC BY 2.0
