IPO Details
RHP/DRHPIssue Date
23 Apr - 25 Apr'25
Investment/lot
₹ 140000
Price Range
133 - 140
Lot Size
1000
IPO Size
₹ 19.53 Cr
IPO Listing Details
Listing On
30 Apr'25
Issue Price
140
Listed Price
₹ 175
Retail Gain/Listing Gain
▲25.00%
Schedule of Tankup Engineers Ltd
Start date
23/04/2025
End date
25/04/2025
Allotment of bids
28/04/2025
Refund Initiation
29/04/2025
Listing on exchange
30/04/2025
About Tankup Engineers Ltd IPO
The IPO of Tankup Engineers Ltd consists of a fresh issue of up to 13,95,000 equity shares. There’s no offer for sale in this issue. The total issue size is up to ₹19.53 crores in the upper price band.
Objectives of Tankup Engineers Ltd IPO
- Repayment in full or in part, of certain of the company’s outstanding borrowings
- Funding to meet working capital requirements
- General corporate purpose
Tankup Engineers Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | ₹140 |
Fresh Issue Size | Up to 13,95,000 equity shares |
Offer for Sale | NA |
EPS in ₹ for FY 24 | 9.34 |
Tankup Engineers Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Investors | Not less than 15% of the net issue |
Retail Individual Investors | Not less than 35% of the net issue |
Industry Outlook
Infrastructure is a key enabler in helping India become a US$ 26 trillion economy. The government’s focus on building infrastructure of the future has been evident given the slew of initiatives launched recently. The US$ 1.3 trillion national master plan for infrastructure, Gati Shakti, has been a forerunner to bring about systemic and effective reforms in the sector, and has already shown a significant headway.
Along with infrastructure, the oil and gas sector are among the eight core industries in India and plays a major role in influencing the decision-making for all the other important sections of the economy. The industry is expected to attract US$ 25 billion investment in exploration and production.
Company Information
Tankup Engineers Ltd is engaged in the business of manufacturing specialised vehicle superstructure for complex mobility and storage solutions of various capacities. This involves manufacturing large containers or tank-like solutions used for transporting/ storing various materials, which could include liquids, gases or solids, depending on customer product range.
These tanks may be custom-built to meet specific client requirements regarding size, material, capacity, and features. It caters to a broad spectrum of end-use industries like petroleum, mining, infrastructure, defence etc.
Tankup Engineers Ltd Strengths
Diverse Range of Product Portfolio Having Applications Across Various Industry Verticals
The company has a diverse range of product portfolio finding applications across multiple industries such as petroleum, mining, infrastructure, defence and aviation. Its diversification of revenue across multiple verticals allow it to prevent any possible industry concentration in any of its product categories. Its diverse portfolio limits its exposure to downturns associated with a particular vertical.
In-house Product Fabrication Capabilities
Tankup Engineers Ltd operates from its manufacturing facility situated in Lucknow, Uttar Pradesh. It has comprehensive in-house fabrication capabilities. All raw materials procured for its fabrication activities are sourced from trusted vendors and its quality control team applies stringent quality measurements at every stage to ensure low rejection rate such that its finished product conforms to the exact requirement of our customers and successfully passes all tests, validations and quality checks.
Sustainable Order Book
The company has developed expertise and capability in delivering specialised vehicle superstructure solutions for a diverse range of industries. It believes the growth in its order book has materialised due to its continued focus on product development and ability to successfully deliver quality products. As on March 13, 2025, the company has an outstanding order book of ₹ 22.1099 crores.
Stringent Quality Control Mechanism Ensuring Standardised Product Quality
The company is dedicated towards quality of its products to ensure compact and sturdy design for enhanced strength and long life along with pilferage proof tanks to ensure optimum unitisation of goods.
The company adheres to quality standards as prescribed by its customers and employs stringent quality control mechanism at each stage of the fabrication process, which are required to ensure that its finished product conforms with the exact requirement of its customers and successfully passes all validations and quality checks. The company is accredited with ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certification.
Risks of Tankup Engineers Ltd IPO
- Dependence on Key Customers
The company’s business is dependent on the sale of its products to certain key customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Related to Quality Compliance and Customer Audits
The company is subject to strict quality requirements, customer inspections and audits, and any failure to comply with quality standards may lead to cancellation of existing and future orders and could negatively impact its reputation and its business and results of operations and future prospects.
- Geographical dependence
They generate a major portion of turnover from their operations in certain geographical regions and any adverse developments affecting these operations in these regions could have an adverse impact on their revenue and results of operations
All Financial Information about Tankup Engineers Ltd
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
There are no listed companies in India that are engaged in a business similar to that of Tankup Engineers Ltd. Accordingly it is not possible to provide an industry comparison in relation to the company.
Anchor Investor Bidding Date
April 22, 2025 is the anchor investor bidding date.
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Bigshare Services Pvt Ltd
- Book Running Lead Manager: HEM Securities Ltd
Business Model
The company’s manufacturing activity involves focus on fabrication of tanks dedicated to delivering mobile solutions that may be deployed for a wide range of commercial use. For example, it manufactures various types of tanks like:
- Mobile Refueller
- Water Sprinkler
- Mobile Service Van
- Explosive Van
- Tank Truck
- Blasting Shelter
The company’s focus on mobile solutions is intended to provide convenient solutions for transporting and dispensing goods like fuel, water and other consumables in complex applications. These mobile tanks facilitate transportation from a storage facility to a remote site.
Company Growth Trajectory
The EBITDA margin of Tankup Engineers Ltd grew from 5.82% in FY 22 to 17.84% in FY 24. Its PAT margin rose from 3.29% in FY 22 to 13.23% in FY 24. As a part of expanding its operations, the company is also engaged in fabrication of Mobile Service Vans/Workshop Container which are used as remote service setups for mining and infrastructure. Recently the company has initiated to further expand its operations in the defence and aviation industry.
Market Position
Tankup Engineers Ltd operates through its manufacturing facility, situated in Lucknow. They are pioneers in the industry. The company is accredited with ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certification. It’s recognised as an approved fabricator of Tank Trucks/Bouser/Refuller for fabrication by the Ministry of Commerce & Industry Petroleum & Explosives Safety Organisation (PESO). Moreover, the company has received MSME sustainable (ZED) certification for Zero Defect Zero Effect in recognition of its manufacturing facility.
Tankup Engineers Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 19.5407 | 11.852 | 1.3981 |
Profit/(Loss) Before Tax (in ₹ crores) | 3.1185 | 0.9436 | 0.0558 |
Profit After Tax (in ₹ crores) | 2.5688 | 0.7887 | 0.0460 |
EPS in ₹ | 9.34 | 2.97 | 0.30 |
Tankup Engineers Ltd Cash Flow Statement
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit/(Loss) Before Tax (in ₹ crores) | 3.1185 | 0.9436 | 0.0558 |
Net Cash from Operating Activities (in ₹ crores) | (0.8031) | (0.6581) | (0.5960) |
Net Cash from Investing Activities (in ₹ crores) | (0.1393) | (0.3037) | (0.5403) |
Net Cash from Financing Activities (in ₹ crores) | 0.7966 | 1.1012 | 1.2156 |
Cash and Cash Equivalent at the End of the Year (in ₹ crores) | 0.1100 | 0.2558 | 0.1164 |
How to Check Allotment Status of Tankup Engineers Ltd?
1. Visit the Registrar’s Website
- Visit the official website of Bigshare Services Pvt Ltd
- Click on ‘IPO Allotment Status’ from ‘Solutions’
- Click on any one of the servers
- Choose ‘Company Name’ and input either your Application Number, Beneficiary ID or PAN number
- Enter captcha and click on ‘Search’ to know the status
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Tankup Engineers Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Tankup Engineers Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Tankup Engineers Ltd IPO FAQs
When is Tankup Engineers Ltd IPO listing date?
Tankup Engineers Ltd will list on 2025-04-30.
What is the issue size of Tankup Engineers Ltd IPO?
19.53 is the issue size of Tankup Engineers Ltd IPO.
What is the minimum lot size required for Tankup Engineers Ltd IPO?
The minimum lot size is 1000 shares and the investment required is ₹140000.
What is the price band of the Tankup Engineers Ltd IPO?
The price band of Tankup Engineers Ltd IPO is ₹133 to ₹140.
Where can I read more about Tankup Engineers Ltd business?
You can read more about Tankup Engineers Ltd and its IPO from the company’s red herring prospectus (RHP) here.
What is the Tankup Engineers Ltd IPO?
The IPO of Tankup Engineers Ltd comprises only a fresh issue of up to 13,95,000 equity shares.
When will the IPO of Tankup Engineers Ltd go live?
Bidding for the IPO of Tankup Engineers Ltd will start on April 23, 2025 and the bid closes on April 25, 2025.
From where can I read more about the IPO of Tankup Engineers Ltd?
You can read more about the IPO of Tankup Engineers Ltd from the company’s red herring prospectus here.
