Hy-Tech Engineers IPO Subscribed 19.33 Times on Day 2 with 57% Grey Market Premium

Hy-Tech Engineers IPO Day 3: GMP at 57%, subscription reaches 19.33x. Should you subscribe?

The Hy-Tech Engineers IPO entered its third day of bidding on August 26, with the issue subscribed 19.33 times by the end of Day 2. Retail investors led the demand, while the IPO’s grey market premium of Rs 30 indicated a potential 57% listing premium. Anand Rathi Research has assigned a “Subscribe - Long Term” rating to the issue, citing the company’s growth prospects and reasonable valuation.