Tankup Engineers IPO: Check price, dates, GMP and should you subscribe?
After a quiet spell in the Small and Medium Enterprise Initial Public Offering (SME IPO) market, Tankup Engineers, known for building specialised vehicle superstructures, is bringing some action back as it is set to hit Dalal Street this week. The company will launch its first public issue on April 23, 2025.The company aims to raise Rs 19.53 crore through a fresh issue of 13.95 lakh shares. The IPO will open for subscription on April 23, 2025 and will close on April 25, 2025, while the shares are expected to be allotted on April 28.advertisementThe IPO of Tankup Engineers is likely to be listed on the NSE SME platform on April 30, 2025.IPO DETAILS AND PRICE BAND
The price band has been fixed between Rs 133 to Rs 140 per share. For retail investors, the minimum lot size is 1,000 shares, which means you'll need at least Rs 1,33,000 to apply. However, it's advised to bid at the upper price of Rs 140, making the investment around Rs 1,40,000, to avoid missing out in the case of oversubscription.Meanwhile, for high-net-worth individuals (HNIs), the minimum is two lots (2,000 shares), which requires Rs 2,80,000.GREY MARKET PREMIUM (GMP)As of April 22, 2025, the GMP of Tankup Engineers IPO is Rs 0, which indicates that no premium is quoted in the grey market. With a cap price of Rs 140, the anticipated listing price is still the same, i.e., Rs 140 per share, reflecting no short-term listing gain or loss.BUSINESS OVERVIEW AND BACKGROUNDadvertisementFounded in 2020, Tankup Engineers Ltd designs and manufactures vehicle superstructure for complex mobility and storage solutions. Its range includes fuel tanks, fire tenders, mobile bowsers, aircraft refuellers, and ground support equipment. These products are custom-made based on the client's needs, size, material, and function.The company supplies to many sectors, like agriculture, construction, logistics, mining, aviation, defence, and infrastructure.The IPO proceeds will be used for funding to meet working capital requirements, repayment of certain outstanding borrowings, and general corporate purposes.SHOULD YOU SUBSCRIBE?While the company operates in a niche space and has a diversified client base, the zero GMP suggests lukewarm demand in the unofficial market. Investors should look into the company's financials, order book, and growth potential before making a decision.
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