IPO
Hydraulic fittings maker Hy-Tech Engineers’ Rs.136-Cr IPO subscribed 134 times
The INR 136-Cr initial public offering (IPO) of Thane-based hydraulic fittings maker Hy-Tech Engineers has been subscribed 134.04 times as of the fourth and final day of bidding. The offering received bids for 243.21 crore shares against 1.81 crore shares on offer. Non-institutional investors led the demand with a subscription of 271.76 times, while the portion for qualified institutional buyers was subscribed 108.81 times. Retail investors also participated significantly, subscribing 88.72 times their reserved portion. Prior to the public opening, the company raised INR 40.72 crore from anchor investors.The IPO, totaling INR 135.73 crore, consists of a fresh issue of 1.13 crore shares valued at INR 60 crore and an offer for sale of 1.43 crore shares amounting to INR 75.73 crore. The company has set the price band for the issue at INR 50–53 per share, with a lot size of 283 shares.
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