Tankup Engineers IPO Opens: Check GMP, Subscription Status, Price Band, Offer Size And More

Tankup Engineers Ltd. launched its initial public offering (IPO) on Wednesday, April 23.

The firm is involved in the business of manufacturing custom-built tanks for storing or transporting liquids, gases, or solids. Tankup Engineers aims to raise Rs 19.53 crore through its NSE SME issue.

Those looking to invest in this IPO must check key details such as the minimum investment, price band, offer size and the company's financials before making any decision.

The Tankup Engineers IPO price band has been fixed at Rs 133 to Rs 140 per equity share. The public offering comprises a fresh issuance of 13.95 lakh shares. There is no offer-for-sale (OFS) component. 

Retail investors can bid for a minimum lot size of 1,000 shares and in multiples thereof. This will require a minimum investment of up to Rs 1,40,000 per lot for each application.

The IPO will close for subscription on April 25. The company is expected to finalise the IPO allotment status on April 28. The successful bidders will receive the Tankup Engineers shares in their Demat accounts by April 29. The company will process refunds for the non-allottees on the same day as well.

Shares of Tankup Engineers are scheduled to be listed on the NSE SME platform, Emerge, on April 30.

The book-running lead manager for the Tankup Engineers IPO is Hem  Securities Ltd., whereas the registrar is Bigshare Services Private Ltd. Hem Finlease Private Ltd is the market maker for the issue.  

The IPO has been subscribed 0.03 times as of 11:09 am on Wednesday.

• Non-Institutional Buyers: 0.01 times

• Retail Investors: 0.06 times

Subscription status will be updated at regular intervals.

On April 23, the grey market premium (GMP) for the Tankup Engineers Ltd IPO stood at Rs 0, as per Investorgain.com. This means that the company’s shares may see a flat listing at Rs 140 apiece on the NSE Emerge platform.

However, the GMP trends may see a change with the subscription updates of the IPO. 

Note: GMP does not represent official data and is based on speculation.

Tankup Engineers Ltd. is involved in the business of manufacturing vehicle superstructures for complex storage and mobility solutions. It offers products like aircraft refuelers, self-bunded fuel tanks, fire tenders, mobile diesel bowsers and ground support equipment. Tankup Engineers serves sectors like mining, agriculture, aviation, defence, infrastructure, logistics and construction.

Tankup Engineers Ltd has proposed to use the proceeds of the public offering for repayment of existing borrowings, general corporate purposes, as well as general working requirements.

The company’s revenue in FY 2023-24 stood at Rs 19.54 crore. For the 8 months ended November 30, 2024, in FY25, the revenue was recorded at  Rs 12.48 crore.

In the first eight months of FY25, the company reported a net profit of Rs 95 lakh. For the entire FY24, the company’s net profit stood at Rs 2.57 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.