Tankup Engineers IPO - Day 3 Subscription at 7.26 Times

Tankup Engineers' initial public offering (IPO) has shown exceptional progress through its three-day subscription period. The ₹19.53 crore IPO has witnessed strong demand, with subscription rates opening strongly at 1.22 times on day one, improving to 3.12 times on day two, and reaching an impressive 7.26 times by 11:14 AM on the final day, demonstrating significant investor interest in this manufacturer of vehicle superstructure for complex mobility and storage solutions.

Tankup Engineers IPO non-institutional investors segment leads with a remarkable 17.40 times subscription, while retail investors follow with a strong 6.51 times and qualified institutional buyers show solid interest at 1.94 times, reflecting broad-based investor confidence in this company that offers products including self-bunded fuel tanks, mobile diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment.
 

Subscription Status of Tankup Engineers IPO:

Here are the subscription details for Tankup Engineers IPO as of Day 3 (April 25, 2025, 11:14 AM):

Note:
 

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors and market maker are not included in the total shares offered.

Tankup Engineers IPO - Day 3 Subscription

• Overall subscription reached exceptional 7.26 times, showing strong investor enthusiasm
• NII segment showed extraordinary demand at 17.40 times, nearly five times day two's 3.66 times
• Retail investors demonstrated strong interest at 6.51 times, up from day two's 3.81 times
• QIB segment maintained steady 1.94 times subscription throughout the subscription period
• Total applications reached 3,200, with 2,943 from retail investors
• Cumulative bid amount reached ₹95.49 crores, nearly 5 times the issue size
• NII segment dominated with ₹47.26 crores in bids, followed closely by retail at ₹41.20 crores

Tankup Engineers IPO - Day 2 Subscription at 3.12 Times

Key Highlights:

• Overall subscription improved significantly to 3.12 times, showing strong growth from day one
• Retail investors showed impressive interest at 3.81 times, more than tripling day one's 1.12 times
• NII segment showed strong improvement to 3.66 times, five times day one's 0.73 times
• QIB segment maintained steady 1.94 times subscription, unchanged from day one
• Day two momentum building rapidly toward strong oversubscription
• Market response indicating broad-based interest across investor categories
• Specialized vehicle superstructure manufacturing expertise attracting significant investor attention
• Second day setting stage for substantial oversubscription on final day

Tankup Engineers IPO - Day 1 Subscription at 1.22 Times

• Overall subscription opened strong at 1.22 times, already crossing full subscription on day one
• QIB investors began impressively at 1.94 times, demonstrating early institutional confidence
• Retail investors showing good initial interest at 1.12 times, exceeding full subscription
• NII segment showing moderate initial interest at 0.73 times, approaching full subscription
• Opening day demonstrating robust investor engagement across all categories
• Initial momentum reflecting positive assessment of specialized vehicle manufacturing sector
• Custom-built tank manufacturing expertise drawing significant early investor interest
• First day setting strong subscription baseline suggesting potential for substantial oversubscription

About Tankup Engineers Limited

Founded in 2020, Tankup Engineers Limited specializes in manufacturing vehicle superstructure for complex mobility and storage solutions. The company designs and produces custom-built tanks for transporting or storing liquids, gases, or solids, tailored to client specifications in size, material, capacity, and functional features.

Their product portfolio includes mobile refuellers with IoT-enabled fuel solutions optimizing management across multiple industrial sectors, water sprinklers that enhance efficiency and conserve water, and mobile service vans enabling safe, efficient on-site equipment maintenance. The company serves diverse sectors including agriculture, mining, construction, logistics, aviation, defense, and infrastructure, operating from a 2,665 sq. mtr. facility in Lucknow that is accredited with ISO certifications and PESO approval, and holds MSME ZED certification for Zero Defect Zero Effect manufacturing.

Financial performance shows strong growth with revenue increasing from ₹11.85 crores in FY2023 to ₹19.54 crores in FY2024, while profit after tax rose significantly from ₹0.79 crores to ₹2.57 crores. For the eight months ended November 2024, the company reported revenue of ₹12.48 crores with PAT of ₹0.95 crores. With approximately 45 employees as of March 2024, the company's competitive strengths include its diverse product portfolio serving various industry verticals, in-house fabrication capabilities, sustainable order book (currently worth ₹22.11 crores), stringent quality control processes, and experienced management team.
 

Highlights of the Tankup Engineers IPO:

• IPO type: Book Building IPO
• IPO size: ₹19.53 crores
• Fresh Issue: 13.95 lakh shares
• Face value: ₹10 per share
• Issue price: ₹140 per share
• Lot size: 1,000 shares
• Minimum investment for retail investors: ₹1,40,000
• Minimum investment for HNI: ₹2,80,000 (2 lots)
• Market maker reservation: 70,000 shares
• Anchor portion: 3,85,000 shares (₹5.39 crores raised)
• Listing at: NSE SME
• IPO opens: April 23, 2025
• IPO closes: April 25, 2025
• Allotment date: April 28, 2025
• Listing date: April 30, 2025