Tankup Engineers IPO: 10 key points to consider as ₹20 crore offer opens for subscription

Tankup Engineers IPO: Vehicle superstructure maker Tankup Engineers Ltd's NSE SME initial public offering opened for public subscription on Wednesday, April 23. The price band has been set at ₹133 to ₹140 per equity share. The company's shares will hit the secondary market on April 30.

Tankup Engineers IPO: 10 key points to know

• Tankup Engineers IPO subscription period: The initial share sale will be live from Wednesday, April 23 to Friday, April 25.
• IPO offer structure: It is solely a fresh issue of 13.95 lakh shares aggregating to ₹19.53 crore. There is no offer-for-sale (OFS) component.
• Tankup Engineers IPO price band: The price range has been set at ₹133 to ₹140 per share.
• Reservation: Half of the new issue has been set aside for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
• Tankup Engineers IPO lot size: Retail investors can apply for a minimum of 1,000 shares, needing an investment of ₹1,33,000. For high net-worth individuals, the least investment is ₹2,80,000 for 2,000 shares.
• Objectives: The fresh issue proceeds will be used to clear debt, meeting working capital needs and general corporate purposes.
• Book-running lead manager and registrar: Hem Securities is the sole book-running lead manager, while Bigshare Services is the registrar.
• Tankup Engineers IPO allotment date: The basis of allotment is expected to be finalised on April 28
• Listing date: The listing on the NSE SME platform Emerge will occur on April 30.
• Promoter holding: The company's promoters Pankhuri Lath, Gaurav Lath, Govind Prasad Lath and Tank-Up Petro Ventures LLP hold a 100% stake, which will be reduced to 73.65% post-issue.

Tankup Engineers makes specialised vehicle superstructures such as large containers or tank-like solutions for transporting/storing various materials such as liquids, gases, or solids.

The company serves a broad spectrum of end-use industries like mining, petroleum, infrastructure, and defence, among others.

It has manufactured tanks like mobile refueller, mobile service van, water sprinkler, explosive van, blasting shelter and tank truck.