Tankup Engineers IPO
- IPO Date23 Apr, 2025 to 25 Apr, 2025
- Listing Date30 Apr, 2025
- Face Value₹10 per share
- Issue Price₹140 to ₹140 per share
- Lot Size1000 Shares
- Minimum Investment₹1,40,000
- Listing AtNSE SME
- Total Issue Size13,95,000 Shares
(aggregating up to ₹19.53 Cr) - Fresh Issue13,95,000 Shares
(aggregating up to ₹19.53 Cr)
- Offer for Sale-
- Issue TypeBookbuilding IPO
- Share holding pre issue39,00,000
- Shareholding post issue52,95,000
IPO Dates
Closing Date
25 Apr, 2025
Initiation of Refunds
29 Apr, 2025
Listing Date
30 Apr, 2025
23 Apr, 2025
Opening Date
28 Apr, 2025
Basis of Allotment
29 Apr, 2025
Credit of Shares
Tankup Engineers Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹1,40,000 |
| Retail (Max) | 1 | 1000 | ₹1,40,000 |
| HNI (Min) | 2 | 2000 | ₹2,80,000 |
Tankup Engineers Promoter Holding
Gaurav Lath, Pankhuri Lath, Govind Prasad Lath and Tank-Up Petro Ventures LLP are the promoters of the company.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | 73.65% |
Tankup Engineers COMPANY INFORMATION
Tankup Engineers IPO is a bookbuilding of ₹19.53 crores. The issue is entirely a fresh issue of 13.95 lakh shares. Tankup Engineers IPO bidding started from April 23, 2025 and ended on April 25, 2025. The allotment for Tankup Engineers IPO was finalized on Monday, April 28, 2025. The shares got listed on NSE SME on April 30, 2025. Tankup Engineers IPO price band is set at ₹140 per share. The minimum lot size for an application is 1000. The minimum amount of investment required by retail investors is ₹1,33,000. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,40,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹2,80,000. Hem Securities Limited is the book-running lead manager of the Tankup Engineers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for Tankup Engineers IPO is Hem Finlease Private Limited. Refer to Tankup Engineers IPO RHP for detailed information.
Incorporated in 2020, Tankup Engineers Limited is engaged in the manufacturing of vehicle superstructure for complex mobility and storage solutions.
The company offers products including self-bunded fuel tanks, mobile diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment.
The company specializes in manufacturing custom-built tanks for transporting or storing liquids, gases, or solids, tailored to client specifications in size, material, capacity, and functional features.
The company serves sectors such as agriculture, mining, construction, logistics, aviation, defense, and infrastructure.
Products:
- Mobile Refuellers:IoT-enabled fuel solutions optimize management across multiple industrial sectors.
- Water sprinkler:Custom water sprinklers enhance efficiency, conserve water, ensure safety.
- Mobile Service Van:Customized service vans enable safe, efficient on-site equipment maintenance.
As on March 31, 2024, the company has employed approximately 45 employees at various levels of the Organization.
Competitive Strengths:
- Diverse range of product portfolio having applications across various industry verticals.
- In-house product fabrication capabilities.
- Sustainable Order Book
- Stringent quality control mechanism ensuring standardized product quality
- Experienced and Qualified Management and Employee base
Tankup Engineers Limited IPO Analysis
Tankup Engineers Limited, a key player in mobile fuel and liquid transport solutions, is launching its initial public offering (IPO) on the NSE Emerge platform. This detailed analysis covers the fundamentals of the offering, financial insights, risk considerations, and whether it could be a good investment opportunity.
Highlights of the IPO
Basic Issue Details
IPO Type: 100% Fresh Issue
Equity Shares Offered: 13,95,000
Listing Platform: NSE Emerge (SME Segment)
Market Maker Portion: 70,000 shares
Employee Reservation: 36,000 shares
Net Issue to Public: 12,89,000 shares
Face Value: ₹10 per share
Issue Opening Date: April 23, 2025
Issue Closing Date: April 25, 2025
About Tankup Engineers Limited
Company Profile
Tankup Engineers Limited, established in 2020, specializes in manufacturing superstructures for vehicles, such as fuel bowsers, aviation refuellers, water tankers, and other industrial containers. It caters to defense, petroleum, and infrastructure sectors and has established itself as an innovative, technology-driven company.
Key Attributes
ISO-certified manufacturing facility in Lucknow
Product applications in both civilian and defense sectors
Promoters include individual founders and Tank-Up Petro Ventures LLP
Trademark currently being transferred from LLP to company ownership
Financial Overview
Revenue and Profit Growth
| Financial Year | Revenue (₹ Lakhs) | Net Profit (₹ Lakhs) | EPS (₹) | RoNW (%) |
|---|---|---|---|---|
| FY 2022 | 79.50 | 4.60 | 0.30 | 23.44 |
| FY 2023 | 543.96 | 78.87 | 2.97 | 70.80 |
| FY 2024 | 1,472.87 | 256.88 | 9.34 | 69.75 |
| 8M FY2025 | 1,070.98 | 94.70 | 2.91 | 15.35 |
Financial Strengths
Strong and consistent revenue growth
High Return on Net Worth (RoNW) above 60% in FY23 and FY24
Net profit more than tripled from FY23 to FY24
Objects of the Issue
Use of Funds
Purchase of plant and machinery to expand production
Working capital requirements
General corporate purposes
Public issue expenses
Pros and Cons
Advantages
Strong niche in vehicle-mounted fuel and water solutions
Rapid financial growth with solid margins
Focus on high-potential sectors like defense and infrastructure
Modern production facility and strong engineering capabilities
100% fresh issue — funds go directly to business growth
Disadvantages
Operating from leased facilities creates long-term risks
Trademark still under transfer from promoter LLP
Lack of prior market presence may impact initial liquidity
Subject to heavy dependence on a few major industries
No prior dividend history indicates reinvestment over shareholder return
Risk Factors
Notable Concerns for Investors
Being a first-time issuer, there's no market price reference
IPO is on the SME platform, which generally has less trading volume
Any failure in obtaining or maintaining licenses (like from PESO) could impact operations
Trademark assignment from Tank-Up Petro LLP is still pending — potential legal exposure
The company relies heavily on a few sectors and clients
Conclusion
Final Thoughts
Tankup Engineers Limited is a high-growth, sector-specific manufacturing company entering the public markets through the SME platform. It demonstrates strong revenue and profit metrics, but its operational risks and lack of market history require cautious optimism. Suitable for investors with higher risk appetite and a medium to long-term horizon.
Frequently Asked Questions (FAQ)
Tankup Engineers IPO will open on 23 Apr, 2025 and close on 25 Apr, 2025. Investors must apply within this period to participate.
The Tankup Engineers IPO price band is set between ₹140.00 and ₹140.00 per share. The minimum lot size is 1000, requiring an investment of at least ₹140000.00.
The Tankup Engineers IPO shares are expected to be listed on 30 Apr, 2025, subject to regulatory approvals and final allotment.
You can track your Tankup Engineers IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Tankup Engineers IPO will be listed on major stock exchanges such as BSE, where you can trade shares once they are listed.
The company is offering 13,95,000 equity shares as a 100% fresh issue with no offer-for-sale component.
The IPO opens on April 23, 2025, and closes on April 25, 2025.
The equity shares will be listed on NSE Emerge, the SME platform of the National Stock Exchange.
Funds will be used for machinery purchases, working capital, general business growth, and public issue expenses.
No. The company has not declared dividends in the past three financial years.
Key risks include leased premises, pending trademark transfer, and potential client concentration. Also, being an SME IPO, post-listing volatility and low liquidity are concerns.
The promoters include Govind Prasad Lath, Gaurav Lath, Pankhuri Lath, and Tank-Up Petro Ventures LLP.