Hi-Tech Flow Solutions files IPO papers, seeks ₹300 cr via fresh issue

Hi-Tech Flow Solutions Ltd has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO).

The proposed IPO comprises a fresh issue of up to Rs 300 crore and an offer-for-sale by promoters and an investor, according to the draft red herring prospectus (DRHP) filed on Thursday.

Under the OFS, promoters Ajay Kumar Bansal and Vipul Bansal, and investor The Wealth Company Alternates Trust - India Inflection Opportunity Fund, will offload their stake.

The New Delhi-based company may consider a pre-IPO placement for up to Rs 60 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced.

 

Proceeds from the fresh issue worth around Rs 126 crore will be utilised for setting up an API-grade HSAW pipe manufacturing unit along with a 3LPE coating unit within its existing Nagpur facility; Rs 90 crore will be used for debt payment, and a portion will be allocated for general corporate purposes.

Incorporated in 1993, the company manufactures and supplies Helical Submerged Arc Welded (HSAW) pipes with varied applications. It provides flow solution products across 17 states and 2 Union territories in India, through its manufacturing facilities at Sanand, Gujarat and Nagpur, Maharashtra.

It caters to private engineering, procurement and construction contractors engaged in the execution of large-scale pipeline and infrastructure projects.

On the financial front, Hi-Tech Flow Solutions reported revenue from operations of Rs 417 crore and a net profit of Rs 36.4 crore during FY26.

InCred Capital Financial Services and Pantomath Capital Advisors are the book-running lead managers, and MUFG Intime India is the registrar of the issue.