# Hi-Tech Flow Solutions Limited: IPO analysis > Hi-Tech Flow Solutions Limited (CIN U74899DL1993PLC053185) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 2.03 Cr shares. In FY26 it reported revenue of ₹417 Cr (+39.9% on FY25) and a net profit of ₹36 Cr. Promoters hold 58.9% before the IPO. Our fact-check of its claims found no medium or high concerns across 48 claims checked. - Page: https://ipo.innerkore.com/company/U74899DL1993PLC053185/hi-tech-flow-solutions-limited/ - CIN: U74899DL1993PLC053185 - Last updated: 22 Sep 2026 ## Key facts - **Company:** Hi-Tech Flow Solutions Limited - **CIN:** U74899DL1993PLC053185 - **Filing stage:** DRHP - **Latest SEBI filing:** 22 Sep 2026 - **Offer for sale:** 2,02,68,225 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹417 Cr - **Revenue growth:** +39.9% - **Net profit FY26:** ₹36 Cr - **Revenue CAGR FY24 to FY26:** 35.0% - **Promoter holding (pre-IPO):** 58.9% - **Lead managers:** InCred Capital Financial Services Limited, InCred Capital Financial Services Private Limited, Pantomath Capital Advisors Private Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 0 medium, 2 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 35% a year. Sales FY24 to FY26; latest year +39.9%. - **Profitability** (look closer): 8.7% net margin. FY26. - **Debt** (looks fine): 0.37x equity. ₹48.1 crore borrowed at the end of FY26. - **Profit into cash** (concern): -41% of profit. Operations brought in ₹-14.8 crore against ₹36.4 crore of profit in FY26. - **One-off income** (looks fine): 2% of profit. Other and one-off income is 2% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (looks fine): None serious. 48 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 229 | 298 | 417 | | Sales growth | – | 30.2% | 39.9% | | Net profit | 18 | 24 | 36 | | Net margin | 8.0% | 8.1% | 8.7% | | Net worth | 70 | 95 | 131 | | Borrowings | 1.5 | 9.3 | 48 | | Return on equity | 26.0% | 25.6% | 27.8% | ## Use of proceeds (fresh issue) - manufacturing unit along with a 3LPE coating unit within our existing Nagpur Facility (“Proposed Expansion”)*: ₹126 crore - General corporate purposes**: amount not fixed yet ## Fact-checked claims - **LOW** (SubsidiaryPerformance): SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 govern public issuances and capital raising activities.. The search results indicate that Hi-Tech Flow Solutions has filed preliminary papers and the Draft Red Herring Prospectus (DRHP) with SEBI to raise funds through an Initial Public Offering (IPO), including a fresh issue and an offer-for-sale. This aligns with the claim that SEBI regulations govern such public issuances and capital raising activities. - **LOW** (SubsidiaryPerformance): SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 govern the public issue, private placement, and listing of non-convertible securities.. The search results indicate that Hi-Tech Flow Solutions has filed preliminary papers with SEBI to raise funds through an IPO and has filed a Draft Red Herring Prospectus (DRHP) for an IPO. This aligns with the claim that SEBI regulations govern the public issue and listing of securities. - **NONE** (PromoterBackground): Vipul Bansal has over 17 years of experience in the pipes industry.. No current web search results were found to corroborate, contradict, or provide any information regarding Vipul Bansal's experience in the pipes industry. - **NONE** (PromoterBackground): Vipul Bansal holds a bachelor of science degree in accounting and finance from the University of Bradford and a master of science degree in accounting and financial management from the University of Lancaster.. No web search results were found to corroborate, contradict, or provide any information regarding the educational qualifications of Vipul Bansal as stated in the DRHP claim. - **NONE** (PromoterBackground): Vipul Bansal is the Promoter, Chairman and Managing Director of the company.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Vipul Bansal is the Promoter, Chairman, and Managing Director of Hi-Tech Flow Solutions Limited. - **NONE** (PromoterBackground): Ajay Kumar Bansal holds a provisional certificate for a Bachelor’s Degree in Commerce from Atma Ram Sanatan Dharma College and has over 40 years of experience in trading and manufacturing of steel pipes and tubes.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Ajay Kumar Bansal's educational qualifications or professional experience. - **NONE** (PromoterBackground): Ajay Kumar Bansal is the Promoter of the company.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Ajay Kumar Bansal is the Promoter of Hi-Tech Flow Solutions Limited. - **NONE** (PromoterBackground): Vipul Bansal joined the company in 2015 as a Non-Executive Director and currently as Managing Director, where he is responsible for formulating policies and developing business strategies.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about Vipul Bansal's tenure and role at Hi-Tech Flow Solutions Limited. - **NONE** (PromoterBackground): Vipul Bansal was previously associated with ILB Sports Private Limited, HTL Ispat Private Limited, Webman Technologies Private Limited, Hi-Tech Terrysoft Private Limited and HTL Metal Private Limited as a director.. No current web search results were found to corroborate or contradict the claim regarding Vipul Bansal's past directorships in the listed companies. Therefore, no information could be found to validate or invalidate the statement. - **NONE** (PromoterBackground): Ajay Kumar Bansal has been associated with Hi-Tech Pipes Limited as managing director since 1985.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Ajay Kumar Bansal has been associated with Hi-Tech Pipes Limited as managing director since 1985. - **NONE** (PromoterBackground): There were no outstanding proceedings against the KMPs in the last five financial years.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that there were no outstanding proceedings against the Key Managerial Personnel (KMPs) in the last five financial years. - **NONE** (PromoterBackground): There were no outstanding proceedings against the Directors in the last five financial years.. No current web search results were found to corroborate, contradict, update, or provide any information regarding outstanding proceedings against the Directors of Hi-Tech Flow Solutions Limited in the last five financial years. ## Common questions ### How big is the Hi-Tech Flow Solutions Limited IPO? Hi-Tech Flow Solutions Limited's IPO comprises an offer for sale of 2.03 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Hi-Tech Flow Solutions Limited's revenue and profit? Hi-Tech Flow Solutions Limited reported revenue from operations of ₹417 Cr in FY26, +39.9% versus FY25. Net profit was ₹36 Cr (FY25: ₹24 Cr). Revenue grew at a compound rate of 35.0% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Hi-Tech Flow Solutions Limited? Promoters hold 58.9% of Hi-Tech Flow Solutions Limited before the IPO. ### How will Hi-Tech Flow Solutions Limited use the IPO money? The fresh-issue proceeds are earmarked for: manufacturing unit along with a 3LPE coating unit within our existing Nagpur Facility (“Proposed Expansion”) (₹126 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Hi-Tech Flow Solutions Limited's DRHP? We fact-checked 48 claims from the filing against the open web: 0 raised a high concern, 0 medium and 2 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Hi-Tech Flow Solutions Limited do? Forget the hype: Hi-Tech Flow Solutions has officially filed preliminary papers with SEBI to launch an Initial Public Offering. This move signals that the entire public issue is now under the direct scrutiny of SEBI regulations. ### Who manages the Hi-Tech Flow Solutions Limited IPO? Book running lead managers: InCred Capital Financial Services Limited, InCred Capital Financial Services Private Limited, Pantomath Capital Advisors Private Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Hi-Tech Flow Solutions Limited IPO documents? All 2 filings for Hi-Tech Flow Solutions Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Hi-Tech Flow Solutions Limited - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/HitechFlowSolutionsDAP_p.pdf) (Abridged prospectus (DAP), filed 22 Sep 2026) - [Hi-Tech Flow Solutions Limited - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790058959002.pdf) (Draft Red Herring Prospectus, filed 22 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.