The shares of Hy-Tech Engineers are set to list on the exchanges on Tuesday, Sept. 1 after solid demand during the IPO bidding window. Ahead of its listing on the National Stock Exchange (NSE) and BSE, the grey market premium (GMP) trends indicate that the stock could list at a substantial premium to its issue price.
Here is everything you need to know about the IPO before trading begins:
Hy-Tech Engineers IPO GMP Today: Expected Listing Price, Listing Gain
Hy-Tech Engineers IPO latest GMP is Rs 35 as of 8:00 a.m. on September 1. With the upper price band of Rs 53, Hy-Tech Engineers IPO's estimated listing price is Rs 88 (issue price + today's GMP). This means that the stock could potentially list at a premium of 66.04% over its issue price.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
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Hy-Tech Engineers IPO Final Subscription Status
Hy-Tech Engineers IPO remained open for subscription from Aug. 24 to Aug. 27. During this period, the public issue saw impressive demand across investor categories. Hy-Tech Engineers IPO was subscribed 244.41 times overall, with strong demand across QIB, NII and retail categories.
- Qualified Institutional Buyers (QIBs): 255.77 times
- Non-Institutional Investors (NIIs): 402.29 times
- Retail Individual Investors (RIIs): 170.58 times
The shares allotment of the IPO was finalised on Aug. 28.
Hy-Tech Engineers IPO Listing Date
Hy-Tech Engineers IPO will list on NSE and BSE with a tentative listing date fixed as Tuesday, Sept. 1.
Hy-Tech Engineers IPO Details
Hy-Tech Engineers IPO was a book build issue of Rs 135.73 crore.
- The issue is a combination of fresh issue of 1.13 crore shares aggregating to Rs 60 crore
- Offer-for-sale of 1.43 crore shares aggregating to Rs 75.73 crore
Hy-Tech Engineers IPO was set at the final issue price at Rs 53 per share. The lot size for an application was 283 shares. This means that the minimum amount of investment required by an individual investor (retail) was Rs 14,999 (based on upper price).
New Berry Capitals Pvt.Ltd. was the book running lead manager and Bigshare Services Pvt.Ltd. was the registrar of the issue.
Hy-Tech Engineers IPO: How Fresh Issue Proceeds Will Be Used
- Funding capital expenditure requirement of the company: Rs 30 crore
- Prepayment or repayment of certain outstanding borrowing: Rs 16 crore
- General corporate purposes
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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