Tankup Engineers share price makes a stellar debut, stock opens with 25% premium at ₹175 apiece on NSE SME

Tankup Engineers share price made a positive debut on NSE SME today. Tankup Engineers share price today opened at ₹175, which is 25% higher than the issue price of ₹140.

The initial public offering (IPO) of Tankup Engineers had a subscription period that ran from Wednesday, April 23 until Friday, April 25. With a face value of ₹10, shares in the Tankup Engineers IPO are priced at ₹140. At least 1,000 of those shares are up for bid, and there are multiples of those shares available. Tankup Engineers IPO subscription status was 124.67 times on the last day of bidding.

Established in 2020, Tankup Engineers Limited specializes in developing vehicle superstructures that offer intricate mobility and storage solutions. The company offers a variety of products, including self-bunded fuel tanks, mobile diesel bowsers, aircraft refuelers, fire tenders, and ground support equipment.

The company emphasizes the design of tailored tanks for liquid, gas, or solid transportation or storage, customized to meet clients’ specific needs regarding size, materials, capacity, and functionality. Its products serve numerous industries, including agriculture, mining, construction, logistics, aviation, defense, and infrastructure. The company operates a 2,665 sq. m facility in Lucknow, which is ISO certified and has been approved by PESO, as well as received the MSME ZED certification for Zero Defect Zero Effect manufacturing.

According to the red herring prospectus (RHP), there are currently no listed companies in India with a similar operational model, making it impossible to compare their business with industry peers.

Tankup Engineers IPO details

Tankup Engineers IPO consists of a fresh issue of 13,95,000 equity shares, aggregating to ₹19.53 crore. There's no offer for sale (OFS) component.

Tankup Engineers IPO aims to use the net proceeds for various purposes, including the full or partial repayment of certain outstanding loans, financing to fulfill working capital needs, and general corporate activities.

Hem Securities Limited serves as the lead book-running manager for the Tankup Engineers IPO, while Bigshare Services Pvt Ltd acts as the registrar for the offering.

Tankup Engineers IPO GMP today

Tankup Engineers IPO GMP today is +8. This indicates Tankup Engineers share price were trading at a premium of ₹8 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Tankup Engineers share price was indicated at ₹148 apiece, which is 5.71% higher than the IPO price of ₹140.

According to the grey market activities over the past 14 sessions, the IPO GMP is rising today, indicating a potential for a robust listing. The minimum GMP recorded is ₹0.00, and the maximum GMP is ₹15.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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