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HyTech Engineers Files for IPO to Fund Expansion and Debt Payment
HyTech Engineers Files for IPO to Fund Expansion and Debt Payment
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BTCCSquare news:
HyTech Engineers Ltd, a hydraulic fitting manufacturer, has submitted draft papers to SEBI for an initial public offering. The IPO includes a fresh issue of shares worth ₹70 crore and an offer for sale of 1.19 crore equity shares by promoters.
Proceeds will be allocated toward new machinery for expansion across three units, debt repayment, and general corporate purposes. The company specializes in hydraulic fittings used in industrial applications, benefiting from India's growing manufacturing, construction, and automotive sectors.
New Berry Capitals is managing the public offering, with plans to list on both NSE and BSE. The MOVE underscores confidence in the hydraulic fittings market, which is expanding alongside industrial development.
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