The Tankup Engineers IPO opens for subscription on April 23, 2025, and remains open till April 25, 2025. The basis of allotment is expected to be finalized on Monday, April 28, 2025, and the shares are likely to list on the NSE SME platform on Wednesday, April 30, 2025.
This IPO is a book-built issue worth ₹19.53 crores, and it includes only a fresh issue of 13.95 lakh shares. The price band is fixed between ₹133 to ₹140 per share.
For retail investors, the minimum lot size is 1,000 shares, which means a minimum investment of ₹1,33,000 at the lower end of the price band. However, it is advised to apply at the cutoff price of ₹140, making the total investment ₹1,40,000, to avoid missing out in case of oversubscription.
For HNI investors, the minimum application is 2 lots (2,000 shares), which requires a total investment of ₹2,80,000. Investors should study the company details and financials properly before applying.
Tankup Engineers Limited, established in 2020, is a growing company in India that designs and manufactures vehicle superstructures and smart mobility solutions. The company mainly produces custom-made tanks used for transporting and storing liquids, gases, and solids—designed as per the client’s size, material, and usage needs.
Their wide product range includes self-bunded fuel tanks, mobile diesel bowsers, fire tenders, aircraft refuelers, water sprinklers, mobile service vans, and other ground support equipment. These products are used in many sectors like agriculture, mining, construction, logistics, aviation, defense, and infrastructure.
Tankup runs its operations from a 2,665 sq. mtr. facility in Lucknow, which is ISO-certified, PESO-approved, and recognized under the MSME ZED (Zero Defect Zero Effect) certification. As of March 31, 2024, the company has a strong and skilled team of around 45 employees.
With in-house production capability, a diverse product portfolio, and a stable order book, Tankup focuses on strict quality control and delivering high-standard products. The management team is experienced, and the company emphasizes innovation, customer satisfaction, and long-term relationships.
Tankup is also known for being customer-centric, always aiming to go beyond expectations. The company encourages entrepreneurship, ownership, and excellence in its workplace culture. With a strong focus on collaboration, empathy, and inclusion, Tankup Engineers Limited is well-positioned for steady growth and long-term success.
Overview of Contents
Tankup Engineers IPO Overview
| Particulars | Details |
|---|---|
| IPO Opening Date | April 23, 2025 |
| IPO Closing Date | April 25, 2025 |
| Listing Platform | NSE SME |
| Listing Date | To be announced |
| Type of Issue | Bookbuilding IPO |
| Face Value per Share | ₹10 |
| Price Band | ₹133 to ₹140 per share |
| Minimum Lot Size | 1,000 shares |
| Retail Investment (Min.) | ₹1,33,000 to ₹1,40,000 |
| Total Issue Size | 13,95,000 shares (₹19.53 crore) |
| Fresh Issue Size | 13,95,000 shares (₹19.53 crore) |
| Pre-Issue Shareholding | 39,00,000 shares |
| Post-Issue Shareholding | 52,95,000 shares |
| Market Maker Reservation | 70,000 shares |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
Tankup Engineers IPO Prospectus
| DRHP | Click Here |
| RHP | RHP |
| Addendum DRHP | Click Here |
Tankup Engineers IPO Dates
| Event | Date |
|---|---|
| IPO Start Date | Wednesday, April 23, 2025 |
| IPO Last Date to Apply | Friday, April 25, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on April 25, 2025 |
| Expected Allotment Date | Monday, April 28, 2025 |
| Refunds Begin | Tuesday, April 29, 2025 |
| Shares Credited to Demat Account | Tuesday, April 29, 2025 |
| Tentative Listing on Stock Exchange | Wednesday, April 30, 2025 |
Tankup Engineers IPO Lot Size
| Retail (Min) | 1 | 1000 | ₹1,40,000 |
|---|---|---|---|
| Retail (Max) | 1 | 1000 | ₹1,40,000 |
| HNI (Min) | 2 | 2,000 | ₹2,80,000 |
Objects of the Issue
- Repayment in full or in part, of certain of the outstanding borrowings;
- Funding to meet working capital requirements
- General Corporate Purpose
Promoter Holding Details
Tankup Engineers Ltd is promoted by Gaurav Lath, Pankhuri Lath, Govind Prasad Lath, and Tank-Up Petro Ventures LLP. Before the IPO, the promoters held 100% of the company’s shares. After the public issue, their holding will reduce to 73.65%, showing they are still keeping strong control over the company even after going public.
| Shareholding Before IPO | 100.00% |
| Shareholding After IPO | 73.65% |
Tankup Engineers Limited – Financial Summary (Restated)
| Particulars | 30 Nov 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Total Income | 12.48 | 19.54 | 11.85 | 1.40 |
| Profit After Tax | 0.95 | 2.57 | 0.79 | 0.05 |
| Total Assets | 17.67 | 10.35 | 8.68 | 2.32 |
| Net Worth | 6.17 | 3.68 | 1.11 | 0.20 |
| Reserves & Surplus | 2.27 | 3.43 | 0.86 | 0.05 |
| Total Borrowings | 7.59 | 3.69 | 2.57 | 1.42 |
Tankup Engineers IPO Valuation – FY2024
| KPI | Values |
|---|---|
| ROE: | 107.11% |
| ROCE: | 46.49% |
| EBITDA Margin: | 17.84% |
| PAT Margin: | 13.23% |
| Debt to equity ratio: | 1.00 |
| Earning Per Share (EPS): | ₹9.34 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 69.75% |
| Net Asset Value (NAV): | ₹13.39 |
Tankup Engineers IPO Review
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Tankup Engineers IPO Registrar
- Bigshare Services Pvt Ltd
- Phone: +91-22-6263 8200
- Email: [email protected]
- Website: https://ipo.bigshareonline.com/IPO_Status.html
IPO Lead Managers aka Merchant Bankers
- Hem Securities Limited
Company Address
- Tankup Engineers Limited
- 1262,
- SA Goila,
- Chinhat,
- Phone: +91-7800008707
- Email: [email protected]
- Website: https://www.tankup.co.in/
Tankup Engineers IPO FAQs
When is the Tankup Engineers IPO open for subscription?
The IPO opens on April 23, 2025 and closes on April 25, 2025.
When will the Tankup Engineers IPO allotment be finalized?
The tentative allotment date is April 28, 2025.
What is the expected listing date for Tankup Engineers IPO?
The shares are likely to be listed on April 30, 2025 on the NSE SME platform
What is the price band of the Tankup Engineers IPO?
The price band is set between ₹133 to ₹140 per share.
What is the minimum lot size and investment amount for retail investors?
Retail investors need to apply for a minimum of 1 lot (1,000 shares), costing ₹1,33,000. It’s advised to bid at the cutoff price, i.e., ₹140, to avoid oversubscription issues.
What is the issue size of this IPO?
The total IPO size is 13.95 lakh shares, aggregating to ₹19.53 crores. It’s a 100% fresh issue.