Tankup Engineers is launching its Initial Public Offering (IPO) with a book-building issue size of ₹19.53 crores. The issue is an entirely fresh issue consisting of 13.95 lakh shares, providing a great opportunity for investors to participate in a specialized vehicle manufacturing company that caters to the mobility and storage solutions sector. The IPO opens for subscription on April 23, 2025 and will close on April 25, 2025, with allotment expected to be finalized on April 28, 2025. The listing is slated for April 30, 2025 on NSE SME.

IPO Details:

• Price Band: ₹133 to ₹140 per share

• Minimum Investment for Retail Investors: ₹1,33,000 (for 1000 shares)

• Minimum Investment for HNI Investors: ₹2,80,000 (for 2,000 shares)

• Lot Size: 1000 shares for retail investors, 2000 shares for HNI investors

Hem Securities Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Company Overview:

Tankup Engineers is engaged in the manufacturing of specialized vehicle superstructures used for complex mobility and storage solutions. Their products are primarily used in transporting and storing materials, which could range from liquids to gases or solids. These tanks are custom-built to meet specific client requirements in industries such as petroleum, mining, infrastructure, and defense.

Industry Overview:

India remains the third-largest consumer of oil in the world as of 2023. With FDI inflows in India’s petroleum sector totaling US$ 8.19 billion from April 2000 to June 2024, the country continues to play a significant role in the global oil and gas industry. India's diesel demand is expected to double by 2029-30, with diesel and gasoline covering 58% of the country’s oil demand by 2045. India’s oil demand growth is expected to increase by 4.19% in 2024, reaching 5.57 million barrels per day, as per estimates from OPEC.

Promoters:

The promoters of Tankup Engineers include:

1. Govind Prasad Lath

2. Gaurav Lath

3. Pankhuri Lath

4. Tank-Up Petro Ventures LLP

Objectives of the Issue:

The company intends to use the proceeds from the IPO for the following purposes:

1. Repayment of borrowings (₹350.00 lakhs)

2. Funding for working capital requirements (₹1000.00 lakhs)

3. General corporate purposes (amount to be determined)

Summary of Financial Information:

Below is the financial summary for the company, as per the restated financial statements for the stub period ended November 30, 2024, and the fiscal years ended March 31, 2024, March 31, 2023, and March 31, 2022:

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