Source: The Economic Times
The three-day bidding process for the IPO of Tankup Engineers will close today, Friday, April 25, 2025. The Tankup Engineer IPO, which will be listed on NSE SME platform, has generated strong response from investors, as it was subscribed 2.93 times at the close of the second day- Thursday, April 24, according to National Stock Exchange (NSE) data.
IPO Details
It’s 100 percent fresh issue of an aggregate of up to 14,00,000 equity shares of the face value of Rs 10 each by Tankup Engineers. There is no offer-for-sale (OFS) component. The price band for the issue has been fixed between ₹133 and ₹140 per share. Investors must apply for a minimum of one lot, which consists of 1,000 shares—translating into a minimum investment of ₹1,40,000. Applications can be made in multiples of the lot size.
- Issue Size: 1.4 million equity shares (fresh issue only)
- Price Band: ₹133–₹140 per share
- Lot Size: 1,000 shares
- Minimum Investment: ₹1,40,000
- Total Issue Value: Approx. ₹19.53 crore
- Registrar: Bigshare Services
- Lead Manager: Hem Securities (Sole Book-Running Lead Manager)
IPO Objectives
The Company plans to use the net proceeds from the offering for various strategic purposes. A portion of the proceeds will be used to redeem, in whole or in part, certain outstanding borrowings. The balance of proceeds will use for working capital needs and general corporate purposes.
Grey Market Premium (GMP)
Tankup Engineers’ unlisted shares are currently trading at about ₹147, said sources tracking the grey market trend. This represents a grey market premium (GMP) of ₹7 per share—about 5% higher than the upper price band of ₹140 of the IPO—indicating good investor interest and strong listing projections.
Allotment and Listing Timeline
The basis of allotment is likely to be completed on Monday, April 28, 2025 after the subscription closes. Allotment is likely soon and shares will get reflected in your demat account by or before Tuesday, April 29, 2025. The shares will be listed on the NSE SME platform on or before Wednesday, April 30, 2025.
About Tankup Engineers
Established in 2020,Tankup Engineers are a manufacturing firm that specialises in specialised vehicle super structures designed for complex mobility and storage requirements.The company produces large containers and tank systems designed for the transportation and storage of liquids, gases, and solids products. Its output is widely used in oil, mining and defense. One critical area it operates is the manufacturing of wheeling tank systems for rapid and efficient transfer in multiple commercial and industrial situations.
The closing date for this offer is today, so investors who are interested will have one final chance to invest in this exciting SME opportunity.
