Hy-Tech Engineers IPO: 66% Listing Gain Expected on BSE, NSE Today

Hy-Tech Engineers IPO is set to list today, September 1, 2026, at 10:00 IST, with a projected listing gain of 66.04%. The shares will begin trading on both the BSE and NSE, following the finalization of allotment on August 28.

The grey market premium (GMP) indicates a strong debut, suggesting an estimated listing price well above its initial offer.

Key Listing Figures

• Estimated Listing Price: ₹88 per share
• IPO Price: ₹53 per share
• Grey Market Premium (GMP): +35
• GMP Fluctuation: ₹5 to ₹45 over the past 13 sessions

Mahesh M. Ojha, Vice President – Research & Business Development at Kantilal Chhaganlal Securities Pvt. Ltd, noted Hy-Tech Engineers holds a reasonable valuation. The company’s post-issue market capitalization stands at approximately ₹5,027 million.

Analyst’s Take

• P/E (FY26 earnings): 22.25x
• EV/EBITDA: 12.15x
• Revenue CAGR (last two years): 17.28%
• EBITDA Margins (last two years): Around 22%

Ojha highlighted the company’s strong position in the hydraulic fittings industry and the broader capital goods sector, outperforming most peers. Hy-Tech Engineers maintains about 90% repeat customers, with some relationships extending up to 25 years, and holds a significant share of the Indian domestic market.

Subscription Overload

The IPO witnessed overwhelming investor interest, subscribing 244.41 times on its final day. Bids for over 4.43 billion shares were received against 18.14 million shares on offer for the ₹135.73-crore IPO.

• Non-Institutional Investors (NII) portion: 402.29 times subscribed
• Qualified Institutional Buyers (QIBs): 255.77 times subscribed
• Retail investors: 170.58 times subscribed

Ojha concluded that the company’s valuation is attractive compared to the industry average P/E of 148.55x, recommending holding the stock for medium to long-term gains.