Tankup Engineers IPO opens today; check price band, GMP, key dates

Tankup Engineers has set the price band in the range of ₹133-140 per equity share

The initial public offering (IPO) of specialised vehicle superstructure manufacturer Tankup Engineers opens for public subscription today, April 23, 2025. The Uttar Pradesh-based company aims to raise ₹19.53 crore through the book-built issue, which comprises an entirely fresh issue of 1.39 million equity shares with no offer for sale (OFS) component.

 

The company has reserved around 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs).

 

Tankup Engineers IPO price band, lot size

The company has set the price band in the range of ₹133-140 per equity share. A retail investor can bid a minimum of one lot of 1,000 equity shares with an investment amount of ₹1,33,000. The minimum investment required for high-net-worth individuals is ₹2,80,000 for two lots.

 

Tankup Engineers IPO key dates

The three-day subscription window will tentatively close on Friday, April 25, 2025. The basis of allotment will be finalised on or before Tuesday, April 29, 2025. Shares of Tankup Engineers are likely to be listed on the NSE Emerge, SME platform of NSE, on Wednesday, April 30, 2025, according to the red herring prospectus (RHP).

 

Tankup Engineers IPO registrar, lead manager. 

Bigshare Services serves as the registrar of the issue. Hem Securities is the book-running lead manager.   ALSO READ | Ather Energy IPO to end 2-months silence in mainboard segment; details here

 

Tankup Engineers IPO GMP

Ahead of the opening, the unlisted shares of Tankup Engineers were trading flat at ₹140 each, which is also the upper end of the IPO price, according to sources tracking unofficial market activities.

 

Tankup Engineers IPO objective

From the net proceeds, the company aims to utilise ₹3.5 crore for repayment in full or part of certain outstanding borrowings and ₹10 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes.

 

About Tankup Engineers

Tankup Engineers is a specialised vehicle superstructure manufacturer for complex mobility and storage solutions of various capacities. This involves manufacturing large containers or tank-like solutions for transporting or storing various materials including liquids, gases or solids. Its products are used across multiple industries including petroleum, mining, infrastructure, defence and aviation. The company operates through a manufacturing facility situated in Lucknow, Uttar Pradesh.

 

Tankup Engineers financial overview   

In fiscal year 2023-24 (FY24), Tankup Engineers’ revenue from operations grew 64 per cent year-on-year (Y-o-Y) to ₹19.4 crore from ₹11.81 crore in FY23. It reported a profit after tax (PAT) of ₹2.56 crore in FY24, up 225 per cent from ₹78.87 lakh in the previous fiscal.