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19 Apr, 2025
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector
Tankup Engineers Limited is a Lucknow-based company specializing in custom-built mobility and storage solutions for critical sectors like defense, aviation, and infrastructure.
Incorporated in 2020, the company designs and manufactures products such as fuel tanks, diesel bowsers, fire tenders, and aircraft refuelers.
With a strong focus on quality, safety, and customization, Tankup is rapidly becoming a key player in India’s industrial engineering space.
Company Overview, History, and What They Do
Incorporated in 2020, Tankup Engineers Limited is a modern industrial engineering company that specializes in manufacturing vehicle superstructures designed for complex mobility and storage needs. Headquartered in Lucknow, the company has rapidly built a reputation for delivering high-performance, custom-built equipment across a wide range of sectors.
At the core of Tankup's offerings are innovative and rugged solutions like self-bunded fuel tanks, mobile diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment. Each product is crafted to meet the demanding requirements of industries where reliability and safety are non-negotiable. Whether it’s for transporting fuel to a mining site or supporting logistics operations at an airbase, Tankup builds systems that get the job done—efficiently and securely.
What sets Tankup apart is its deep focus on customization. The company designs and manufactures tanks and mobile systems tailored to specific client needs, accommodating variations in size, material, capacity, and technical features. This approach allows them to serve a broad spectrum of industries, including agriculture, mining, construction, logistics, aviation, defense, and infrastructure. Each solution is engineered not just for functionality but also for durability, safety, and compliance with regulatory standards.
Tankup’s manufacturing operations are run from a 2,665 square meter facility in Lucknow, which is equipped with modern infrastructure and adheres to strict quality standards. The plant holds multiple accreditations, including ISO certifications and PESO (Petroleum and Explosives Safety Organization) approval, and it is recognized under the MSME ZED (Zero Defect, Zero Effect) certification—underscoring the company’s commitment to precision engineering and sustainable manufacturing.
In just a few short years, Tankup Engineers has become a trusted name in the industrial mobility space, combining strong technical expertise with a customer-first mindset. The company’s upcoming IPO is not just a financial milestone, but a strategic move aimed at accelerating growth, expanding its footprint, and scaling up its capabilities in India’s rapidly evolving infrastructure and energy sectors.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector Details
| Detail | Description |
|---|---|
| IPO Date | April 23, 2025 to April 25, 2025 |
| Listing Date | April 30, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹133 to ₹140 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | 13,95,000 shares (aggregating up to ₹19.53 Cr) |
| Fresh Issue | 13,95,000 shares (aggregating up to ₹19.53 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 39,00,000 shares |
| Share Holding Post Issue | 52,95,000 shares |
| Market Maker Portion | 70,000 shares |
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Wed, Apr 23, 2025 |
| IPO Close Date | Fri, Apr 25, 2025 |
| Tentative Allotment | Mon, Apr 28, 2025 |
| Initiation of Refunds | Tue, Apr 29, 2025 |
| Credit of Shares to Demat | Tue, Apr 29, 2025 |
| Tentative Listing Date | Wed, Apr 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 25, 2025 |
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | 140000 |
| Retail (Max) | 1 | 1000 | 140000 |
| HNI (Min) | 2 | 2000 | 2,80,000 |
Tankup Engineers IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 100.00% | 73.65% |
Competitive Strength:
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Tankup Engineers IPO A Strategic Leap in India's Industrial Mobility Sector Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Nov 2024 | 17.67 | 12.48 | 0.95 | 6.17 | 7.59 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 10.35 | 19.54 | 2.57 | 3.68 | 3.69 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 8.68 | 11.85 | 0.79 | 1.11 | 2.57 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 2.32 | 1.4 | 0.05 | 0.2 | 1.42 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 107.11% |
| ROCE | 46.49% |
| Debt/Equity | 1.00 |
| RoNW | 69.75% |
| PAT Margin | 13.23 |
| Price to Book Value | 10.46 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.59 | 2.68 |
| P/E (x) | 21.26 | 52.19 |
Objectives of the IPO
The Tankup Engineers IPO is strategically aimed at supporting the company’s next phase of growth and operational expansion. The key objectives include:
- Repayment or Prepayment of Debt:
A portion of the proceeds will be used to reduce the company’s existing borrowings, strengthening the balance sheet and improving financial stability. - Meeting Working Capital Requirements:
Funds will be allocated to support day-to-day business operations, ensuring smooth execution of projects and timely delivery of orders. - General Corporate Purposes:
The IPO will also help the company invest in strategic initiatives, enhance infrastructure, and explore new market opportunities.
Conclusion
Tankup Engineers Limited is stepping into the public market with strong momentum, a specialized product portfolio, and a growing footprint across vital sectors. In just a few years, it has built a reputation for high-quality, customized engineering solutions that address real-world challenges in industrial logistics and mobility.
The IPO not only offers the company a chance to fuel its expansion plans but also presents investors with an opportunity to be part of an emerging force in India’s capital goods and infrastructure ecosystem. With its innovation-driven approach and sectoral relevance, Tankup Engineers looks well-positioned for long-term growth.
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Frequently asked Questions (FAQs )
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1.What is the Tankup Engineers IPO?
The Tankup Engineers IPO is a book-built issue of ₹19.53 crore, offering equity shares to raise funds for debt repayment, working capital, and general corporate purposes.
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2. When will the IPO open and close?
The IPO opens on April 23, 2025, and closes on April 25, 2025.
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3. What is the price band for the Tankup Engineers IPO?
The price band is set at ₹133 to ₹140 per equity share.
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4. What is the lot size for the IPO?
The minimum lot size is 1,000 shares, which means retail investors need to invest at least ₹1,40,000 at the upper price band.
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5. Where will the shares be listed?
The equity shares will be listed on the NSE Emerge platform, which is a dedicated SME exchange.
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6. What does Tankup Engineers Limited do?
Tankup Engineers manufactures custom vehicle superstructures such as fuel tanks, diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment, serving sectors like construction, logistics, aviation, and defense.
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7. What is the size of Tankup's manufacturing facility?
The company operates a 2,665 sq. meter plant in Lucknow, certified with ISO, PESO, and MSME ZED accreditations.
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8. Who are the lead managers for this IPO?
Hem Securities Limited is acting as the book-running lead manager for the Tankup Engineers IPO.
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9. How has the company performed financially in recent years?
Tankup has shown rapid growth, with revenues rising from ₹1.40 crore in FY22 to ₹19.42 crore in FY24, reflecting strong business momentum.
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10. Is Tankup Engineers a good investment for retail investors?
The company operates in a niche but growing segment with solid financials and sectoral relevance. As always, investors should consider their risk profile and consult with financial advisors before investing.
