Tankup Engineers IPO

Tankup Engineers IPO

₹1,40,000 / 1000 shares

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Tankup Engineers IPO Details

RHP/DRHP

Issue Date

23 Apr - 25 Apr'25

Price Range

₹133 - ₹140

Lot Size

1000

IPO Size

₹19.53 Cr

Tankup Engineers IPO Listing Details

Listing On

30 Apr'25

Issue Price

₹140

Listed Price

₹ 175

Retail Gain/Listing Gain

▲25.00%

Schedule of Tankup Engineers IPO

Start date

23/04/2025

End date

25/04/2025

Allotment of bids

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

Tankup Engineers Ltd IPO Share Offer and Subscription Details

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.

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

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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

Tankup Engineers Ltd Cash Flow Statement

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 Neo 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.

Tankup Engineers IPO FAQs

The Tankup Engineers IPO opens for subscription from 23-04-2025 to 25-04-2025, with a total issue size of ₹19.53 Cr. The IPO price band is ₹133 to ₹140 per share with a lot size of 1000. The company aims to list the shares on BSE & NSE on 30-04-2025.

The Tankup Engineers IPO will open for subscription on 23-04-2025 and will close on 25-04-2025 for investors.

The minimum lot size for the Tankup Engineers IPO is 1000 equity shares, requiring a minimum investment of ₹140000 for retail investors applying in the IPO.

The price band of the Tankup Engineers IPO has been fixed at ₹133 to ₹140 per equity share.

You can apply for the Tankup Engineers IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Tankup Engineers IPO allotment will take place on [-].

You can check the Tankup Engineers IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Tankup Engineers shares will list on the stock exchanges on 30-04-2025.

You can find detailed information about the Tankup Engineers IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

The IPO of Tankup Engineers Ltd comprises only a fresh issue of up to 13,95,000 equity shares.

Bidding for the IPO of Tankup Engineers Ltd will start on April 23, 2025 and the bid closes on April 25, 2025.

You can read more about the IPO of Tankup Engineers Ltd from the company’s red herring prospectus here.

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Neo Research Team, nor is it a report published by the Kotak Neo 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.

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