Posted on April 23, 2025, by Niftynews
The Tankup Engineers IPO has officially launched today, April 23, 2025, and will close on April 25, 2025. As of now, the IPO has garnered a subscription of 31% on Day 1. With a price band set between ₹133-140 per share, this IPO seeks to raise ₹19.53 crore to repay loans and meet working capital needs.
Let’s take a closer look at the Tankup Engineers IPO subscription status, the grey market premium (GMP), and other essential details.
📅 Tankup Engineers IPO Details
The IPO consists of 13,95,000 equity shares, with no Offer for Sale (OFS) component. The funds raised through the issue will be used primarily for the repayment of loans, working capital requirements, and general corporate purposes.
- Price Band: ₹133 to ₹140 per share
- Issue Size: ₹19.53 crore
- Minimum Bid: 1,000 shares
- Bid Increment: 1,000 shares
The company operates a 2,665 sq. m ISO-certified manufacturing facility in Lucknow. Tankup Engineers designs and manufactures custom vehicle superstructures, including self-bunded fuel tanks, mobile diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment.
With a focus on industries such as agriculture, mining, construction, logistics, aviation, defense, and infrastructure, the company’s products are essential for the transportation and storage of liquids, gases, and solids.
🔢 Tankup Engineers IPO Subscription Status
H2: Subscription Progress on Day 1
As of April 23, 2025, the Tankup Engineers IPO is 31% subscribed on its opening day. The retail portion has been 59% subscribed, indicating strong interest from individual investors. On the other hand, the Non-Institutional Investors (NII) segment has booked only 12% of its available portion.
- Retail Portion: 59% subscribed
- NII Portion: 12% subscribed
- Overall Subscription: 31% subscribed
At 13:49 IST, the company had received bids for 2,88,000 shares, against 9,40,000 shares on offer, according to data from Chittorgarh.com.
H3: Retail Demand Outpaces Other Segments
The retail segment has shown notable demand, surpassing the NII portion, which is a good sign for the IPO. This could indicate a promising response from the general public as the IPO progresses over the next two days.
💰 Tankup Engineers IPO Grey Market Premium (GMP)
As of today, the Tankup Engineers IPO GMP is reported to be ₹0, which means the shares are trading at their issue price of ₹140 in the grey market. This indicates that there is no premium or discount for the stock in the unofficial market, and investors are largely placing their bids at the issue price.
The Grey Market Premium (GMP) is a critical indicator of market sentiment and shows how much investors are willing to pay over the issue price. A ₹0 GMP suggests cautious optimism in the grey market, with no significant speculation on the stock’s price at this stage.
🔍 About Tankup Engineers Limited
Founded in 2020, Tankup Engineers specializes in designing and manufacturing vehicle superstructures and storage solutions. The company has gained prominence for its self-bunded fuel tanks, mobile diesel bowsers, and refueling equipment, which cater to various sectors, including aviation, mining, defense, and construction.
The company’s operations are supported by its ISO-certified manufacturing facility in Lucknow, and it has received PESO approval along with MSME ZED certification for Zero Defect Zero Effect manufacturing.
With no comparable publicly-listed peers in India, Tankup Engineers operates in a niche sector, which could be appealing for investors looking for unique opportunities.
📈 IPO Timeline and What’s Next
- IPO Opening Date: April 23, 2025
- IPO Closing Date: April 25, 2025
- Price Band: ₹133-140 per share
- Lot Size: 1,000 shares (with increments of 1,000 shares)
- Listing Date: Expected to be in May 2025 (Subject to SEBI approval)
Investors are advised to track the subscription progress and GMP over the next two days before making their final decision.
🚨 Disclaimer
This article provides educational insights into the Tankup Engineers IPO and its subscription details. Market conditions can change rapidly, and investors should conduct thorough research or consult financial experts before making investment decisions.
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