NSE SME Tankup Engineers rolls off the IPO assembly line at a premium
Shares of Tankup Engineers settled at Rs 183.75 on the NSE, a premium of 31.25% compared with the issue price of Rs 140.
The scrip was listed at 175, a premium of 25% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price.
The counter hit a high of Rs 183.75 and a low of Rs 175. About 6.01 lakh shares of the company changed hands at the counter.
Tankup Engineers' IPO was subscribed 116.17 times. The issue opened for bidding on 23 April 2025 and it closed on 25 April 2025. The price band of the IPO was set at Rs 133 to Rs 140 per share.
The IPO comprised of upto 13,95,000 equity shares (including market maker portion of 70,000 equity shares, employee reservation portion of 36,000 equity shares and anchor allocation portion of 3,85,000 equity shares). The promoter and promoter group shareholding diluted to 73.65% from 100% pre-issue.
The company intends to utilize the net proceeds for the repayment, in full or in part, of certain of the companys outstanding borrowings, funding to meet working capital requirements, and general corporate purposes.
Ahead of the Tankup Engineers on 24 March 2025, raised Rs 5.39 crore from anchor investors. The board has allotted 3.85 lakh shares at Rs 140 per share to 3 anchor investors.
Tankup Engineers specializes in manufacturing custom vehicle superstructures, primarily tank-like containers for transporting or storing liquids, gases, or solids. Serving industries like petroleum, mining, infrastructure, and defense, the company delivers mobile, scalable storage solutions tailored to client needs in terms of size, material, and functionality. As of 30 November 2024, the company had a total of 61 employees at various levels of the organization.
The company recorded revenue from operations of Rs 12.45 crore and net profit of Rs 0.95 crore for the period ended 30 November 2024.
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