Question 1: What is the overview of the Company?

Tankup Engineers Ltd operates in a specialized segment of vehicle superstructure manufacturing, where it designs and builds tailor-made utility vehicles for fuel transportation and critical operations. This isn’t generic automobile manufacturing—it’s value-added, low-volume, high-customization engineering that serves essential but underserved sectors.

Their positioning is more solution-provider than just a manufacturer, delivering ready-to-deploy vehicles equipped with storage, metering, and delivery systems—like mobile diesel bowsers, aircraft refuelers, and fire tenders.

Tankup Engineers serves sectors that are foundational to the economy:

• Mining, construction, and agriculture need on-site refueling solutions in remote areas.
• Aviation and defense require precision-engineered refueling and support vehicles.
• Oil marketing companies and logistics firms are increasingly outsourcing mobile fueling infrastructure, which plays into Tankup’s value proposition.

This focus ensures stable demand and resilience against economic cycles, as these industries are driven by government capex and core infrastructure needs.

Tankup’s edge lies in combining traditional engineering with modern technology enablement:

• They fabricate vehicle bodies, integrate them with fuel storage and metering systems, and layer it with IoT-based automation and tracking.
• They also provide turnkey support to mobile fueling entrepreneurs—design, branding, automation, and tech support.

This integration makes the business sticky and allows for recurring service-based revenue, not just one-time sales.

Their plant in Lucknow, though modest in size (~2,665 sq. meters), is highly compliant with:

• PESO approval (critical for petroleum handling equipment)
• ISO certifications for quality and management
• MSME ZED (Zero Defect, Zero Effect) which reflects commitment to sustainability and quality

This allows them to bid for institutional and government contracts, where compliance is non-negotiable.

Tankup Engineers is one of the key enablers in India’s Door-to-Door Diesel Delivery (DDD) initiative, which aims to formalize and scale mobile fuel delivery systems. They provide:

• Pre-fabricated, certified fuel delivery vehicles
• Tech infrastructure for dispensing and billing
• Branding and operational support

This makes them a critical partner in India’s emerging fuel delivery ecosystem, which has high growth potential as fuel stations get decentralized.

Product wise Revenue Bufrication:

Industrywise Revenue Bifurcation:

Orderbook Bifurcation:

Client wise Revenue Bifurcation:

Capacity and Capacity Utilization :

Question 2: Who are the Promoter of the Company ?

Gaurav Lath – Managing Director & Founder

Other Roles: He holds directorships in several companies, including Concord Control Systems Ltd, T and L Gases Pvt Ltd, and Climbtech India Pvt Ltd.

Experience: Gaurav brings extensive experience in the oil and energy sector, with expertise in deal negotiation, customer service, strategic planning, and business development. ​

Pankhuri Lath – Director

• Role: Pankhuri has been serving as a director since the company’s inception in November 2020.

Govind Prasad Lath – Director

• Experience: Govind has been associated with the company since April 2024 and brings valuable experience from his roles in various other companies, including Concord Global Engineers Pvt Ltd and T and L Gases Pvt Ltd

Question 3 : How Company Performed in the past?

Question 4 : How much money is the Company raising and why?

In the IPO, the company is offering 13.9 Lakh shares, priced at INR 133-144 per share, aggregating to total of INR 19.53 cr.

with a lot size of 1000 shares. For the purpose of:

Repayment of borrowings- INR 3.5 Cr.

Funding Working capital requirements – INR 10 Cr.

General Corporate Purpose – INR 6 Cr.

Question 5: Valuation of the Company and Comparison with other companies

As per RHP, there is no listed peer of the company

Strengths of Tankup Engineers IPO

1. Niche Business Model: Tankup Engineers operates in a specialized segment, possibly related to fuel management or engineering solutions, offering a unique value proposition in the industrial services sector.
2. Growing Demand: Rising industrialization and infrastructure development in India could drive demand for the company’s services.
3. Experienced Management: The presence of a seasoned leadership team may enhance execution capability and strategic decision-making.
4. Recurring Client Base: Long-term contracts or repeat customers could provide revenue visibility and business stability.
5. Asset-Light Operations: If applicable, an asset-light model can lead to higher return on capital and reduced fixed costs.

Weaknesses of Tankup Engineers IPO

1. SME IPO Risks: As an SME IPO, liquidity post-listing might be limited, and price volatility can be high.
2. Limited Track Record: If the company is relatively young or has minimal past financial disclosures, it may raise concerns over business sustainability.
3. Client Concentration Risk: Dependency on a few major clients could affect revenues if contracts are lost.
4. Regulatory & Compliance Risk: Engineering and fuel-related sectors are highly regulated, making compliance a potential challenge.
5. Working Capital Intensive: The business may require high working capital, putting pressure on cash flows.

Registrar Contact Information:

• Company Name: Bigshare Services Pvt Ltd
• Phone: +91 22 6263 8200
• Email: investor@bigshareonline.com
• Website: www.bigshareonline.com​

Bigshare Services Pvt Ltd will handle all IPO-related investor services, including application processing, allotment status, refund processing, and share transfer activities

📍 Registered Office

Tankup Engineers Limited
1262, SA Goila, Chinhat
Lucknow, Uttar Pradesh – 226019
India​

🏭 Factory Address

1028, Goyala Industrial Area
Dewa Road, Chinhat
Lucknow, Uttar Pradesh – 226019
India​

📞 Contact Numbers

• Phone: +91 78000 08707
• Alternate: +91 78000 08800 ​

📧 Email

• General Inquiries: reachus@tankup.co.in
• Corporate/Compliance: cs@tankup.co.in ​

🌐 Website

• www.tankup.co.in

📌 Tankup Engineers IPO – FAQs

1. What is the Tankup Engineers IPO?

Tankup Engineers Limited is launching an SME IPO to raise capital for business expansion, working capital needs, and other corporate purposes. The IPO offers shares to the public at a fixed price.

2. What are the IPO opening and closing dates?

• IPO Open Date: April 23, 2025
• IPO Close Date: April 25, 2025

3. What is the IPO price band?

The IPO is being offered at a fixed price of ₹73 per share.

4. What is the minimum lot size for retail investors?

Retail investors must apply for a minimum of 1 lot (1600 shares), amounting to an investment of ₹1,16,800.

5. What is the total issue size of the IPO?

The total issue size is approximately ₹16.69 crore, comprising a fresh issue of equity shares.

6. Who is the registrar for the Tankup Engineers IPO?

The registrar is Bigshare Services Pvt Ltd, responsible for handling IPO allotment, refund, and investor grievances.

7. How can I apply for the Tankup Engineers IPO?

You can apply through your broker using the ASBA facility via your bank account or through platforms like Zerodha, Upstox, Angel One, or Groww.

8. When will the IPO allotment be finalized?

The basis of allotment is expected to be finalized on or around April 29, 2025.

9. When is the Tankup Engineers IPO listing date?

The company is likely to be listed on the NSE SME platform around May 2, 2025, subject to market conditions.

10. Is Tankup Engineers a good investment?

That depends on your risk appetite. The company operates in a niche engineering space with potential for growth, but SME IPOs can be volatile and less liquid compared to mainboard issues. Always consult with your financial advisor before investing.