India-based Tankup Engineers Limited, headquartered in Lucknow, Uttar Pradesh, is launching its IPO on April 23, 2025, with a price band of ₹133 to ₹140 per share. The company, which manufactures vehicle superstructures and custom-designed storage tanks, aims to raise ₹19.53 crore to repay debts and fund working capital needs.
Tankup Engineers Limited, an ISO-certified manufacturer based in Lucknow, Uttar Pradesh, is set to open its initial public offering (IPO) on April 23, 2025. The IPO will close on April 25, and the price band has been fixed between ₹133 and ₹140 per equity share.
Founded in 2020, Tankup Engineers specializes in building vehicle superstructures and custom-designed tanks tailored for industries such as aviation, mining, defense, agriculture, and infrastructure. The company’s Lucknow facility, spanning 2,665 square meters, holds PESO approval and MSME ZED certification, underlining its commitment to high-quality, sustainable manufacturing.
IPO Details
The IPO consists solely of a fresh issue of 13,95,000 equity shares, aiming to raise ₹19.53 crore. According to the red herring prospectus, the funds will be used for full or partial repayment of existing borrowings, to meet working capital requirements, and for general corporate purposes.
Investors can bid for a minimum of 1,000 equity shares and in multiples thereafter. Hem Securities Limited is serving as the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar for the issue.
Grey Market Sentiment
As of now, the Grey Market Premium (GMP) for the IPO stands at ₹0, indicating that shares are trading at par with the issue price and showing neutral sentiment in the informal market.
The offering has drawn attention due to the company’s niche specialization in complex storage solutions and its positioning in an underrepresented industrial segment.
