Tankup Engineers IPO opens on April 23: Check price band, lot size, objectives, financials and key dates

Tankup Engineers IPO: The initial public offering of vehicle superstructure Tankup Engineers will open for public subscription on April 23. The issue, with a price band of ₹133 to ₹140 per share, will conclude on April 25.

The ₹19.53 crore initial share sale is solely a fresh issuance of 13.95 lakh equity shares.

The money raised to the tune of ₹3.5 crore will be used to clear certain outstanding borrowings, and ₹10 crore will be used to meet working capital requirements. A portion will also be used for corporate general purposes.

Tankup Engineers IPO: Lot size

A retail investor can apply for a minimum of 1000 shares or 1 lot, requiring a minimum investment of ₹1,33,000. For high net-worth individuals, the least investment is ₹2,80,000 for two lots.

Half of the issue has been set aside for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs) and the remaining 15% for non-institutional investors (NIIs).

Tankup Engineers IPO: Subscription, allotment, and listing date

The issue's merchant banker is Hem Securities Limited, while Bigshare Services Private Limited is the registrar.

About Tankup Engineers

Tankup Engineers manufactures specialised vehicle superstructures needed for complex mobility and storage solutions, such as large containers or tanks for transporting various materials.

It manufactures various types of tanks, like mobile refueller, mobile service vans, explosive vans, water sprinklers, tank trucks, and blasting shelters.

Tankup Engineers had reported a profit after tax of ₹2.57 crore for the financial year 2023-24, compared to ₹79 lakh in the previous fiscal year.

Revenue from operations increased to ₹19.54 crore in FY24, as against ₹11.85 crore in FY24.