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Last Day! Tankup Engineers IPO ends today; subscription rises 3x, GMP at 7%
Tankup Engineers IPO subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Tankup Engineers is set to conclude for public subscription today, Friday, April 25, 2025. The NSE SME offering has received a decent response from investors so far. Data available on the National Stock Exchange (NSE) suggests that the Tankup Engineers IPO has been oversubscribed by 2.93 times by the end of the second day of subscription on Thursday, April 24.
Tankup Engineers IPO details
Tankup Engineers IPO comprises an entirely fresh issue of 1.4 million equity shares with no offer for sale (OFS) component. The public offering is available at a price band of Rs 133–Rs 140 per share, with a lot size of 1,000 shares. Investors can bid for a minimum of 1,000 shares and in multiples thereof, requiring a minimum investment amount of Rs 1,40,000.
Tankup Engineers IPO grey market premium (GMP)
Meanwhile, the unlisted shares of Tankup Engineers were trading at around ₹147 per share in the grey markets, according to sources tracking unofficial market activities. This reflects a grey market premium of Rs 7 per share, or 5 per cent, over the upper end of the issue price of Rs 140.
Tankup Engineers IPO allotment, listing date
Once the subscription window concludes, the basis of allotment for Tankup Engineers IPO shares is likely to be finalised on Monday, April 28, 2025. The successful allottees will receive the company's shares in their demat accounts by Tuesday, April 29, 2025.
Tankup Engineers shares are slated to list on the NSE SME, tentatively on Wednesday, April 30, 2025.
Tankup Engineers IPO registrar, lead manager
Bigshare Services is the registrar for the SME offering, while Hem Securities acts as the sole book-running lead manager.
Tankup Engineers IPO objective
Tankup Engineers intends to utilise the proceeds from the public offering for the repayment, in full or in part, of certain outstanding borrowings. The company further proposes to use the remaining proceeds for funding working capital requirements and general corporate purposes. ALSO READ | Ather Energy IPO to end 2-months silence in mainboard segment; details here
About Tankup Engineers
Tankup Engineers manufactures specialised vehicle superstructures for complex mobility and storage solutions, catering to industries like petroleum, mining, and defense. The company fabricates large containers and tank-like solutions for transporting and storing liquids, gases, and solids. The company's manufacturing activity focuses on the fabrication of tanks dedicated to delivering mobile solutions that may be deployed for a wide range of commercial use.
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