New Delhi, Aug. 19 -- HY Tech Engineers has announced the price band for its initial public offering (IPO). The company has set the price at Rs.50- Rs.53 per share, with a face value of Rs.5.

The upcoming IPO will be open for subscription from Monday, August 24, to Thursday, August 27.

HY Tech Engineers IPO is a book-building issue of consisting of fresh issue of Rs.60 crores and an offer for sale (OFS) of up to 1.42 crore equity shares.

The IPO shares will be allocated across investor categories in accordance with the specified reservation structure. Qualified Institutional Buyers (QIBs) will be offered not more than 50% of the net offer, while retail investors will be entitled to not less than 35% of the net offer. Non-Institutional ...