Bookbuilding IPO | ₹61 Cr | Listed at BSE SME | Mon, Mar 23, 2026 - Wed, Mar 25, 2026
Tipco Engineering IPO is a book build issue of ₹60.55 crores. The issue is a combination of fresh issue of 0.54 crore shares aggregating to ₹48.49 crores and offer for sale of 0.14 crore shares aggregating to ₹12.06 crores.
Tipco Engineering IPO bidding started from Mar 23, 2026 and ended on Mar 25, 2026. The allotment for Tipco Engineering IPO was finalized on Mar 27, 2026. The shares got listed on the BSE SME on Apr 1, 2026.
Tipco Engineering IPO is set final issue price at ₹89 per share. The lot size for an application is 1,600 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,84,800 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,27,200.
Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to Tipco Engineering IPO RHP for detailed Information.
IPO Open
Mon, Mar 23, 2026
IPO Close
Wed, Mar 25, 2026
Issue Price
₹89 per share
Market Cap (Pre-IPO)
₹184.83 Cr
| IPO Date | 23 to 25 Mar, 2026 |
| Listed on | Wed, Apr 1, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹84 to ₹89 |
| Issue Price | ₹89 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 68,03,200 shares (agg. up to ₹61 Cr) |
| Reserved for Market Maker | 10,20,800 shares Shreni Shares Ltd. (agg. up to ₹9 Cr) |
| Fresh Issue (Ex Market Maker) | 44,27,200 shares (agg. up to ₹39 Cr) |
| Offer for Sale | 13,55,200 shares of ₹10 (agg. up to ₹12 Cr) |
| Net Offered to Public | 57,82,400 shares (agg. up to ₹51 Cr) |
| Share Holding Pre Issue | 1,53,19,584 shares |
| Share Holding Post Issue | 2,07,67,584 shares |
| BSE Script Code | 544740 |
| ISIN | INE1U6D01014 |
Tipco Engineering IPO comprises a total issue size of 68,03,200 shares. The net offer to the public is 57,82,400 shares, after excluding 10,20,800 shares allotted on a firm basis. Of the Net offer 28,76,800 (49.75%) are allocated to QIB, 8,73,600 (15.11%) allocated to NII 20,32,000 (35.14%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 28,76,800 | 49.75% | 42.29% |
| − Anchor Investor Shares Offered | 17,20,000 | 25.28% | |
| − QIB (Ex. Anchor) Shares Offered | 11,56,800 | 17.00% | |
| NII (HNI) Shares Offered | 8,73,600 | 15.11% | 12.84% |
| − bNII > ₹10L | 5,82,400 | 8.56% | |
| − sNII < ₹10L | 2,91,200 | 4.28% | |
| Retail Shares Offered | 20,32,000 | 35.14% | 29.87% |
| Firm Reservations | |||
| Market Maker Shares Offered | 10,20,800 | 15.00% | |
| Total Shares Offered | 68,03,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,84,800 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,84,800 |
| S-HNI (Min) | 3 | 4,800 | ₹4,27,200 |
| S-HNI (Max) | 7 | 11,200 | ₹9,96,800 |
| B-HNI (Min) | 8 | 12,800 | ₹11,39,200 |
Tipco Engineering IPO raises ₹15.31 crore from anchor investors. Tipco Engineering IPO Anchor bid date is March 20, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 20, 2026 |
| Shares Offered | 17,20,000 |
| Anchor Portion (₹ Cr.) | 15.31 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Apr 26, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jun 25, 2026 |
Incorporated in September, 2021, Tipco Engineering is engaged inmanufacturing and supplying industrial machinery for various industries, including paint and coatings, chemicals, printing and packaging, metal, construction, and infrastructure.
The company manufactures a wide range of machines including Bead Mills (Batch Type, Lab, Horizontal, Vertical, Pin-Type, Disc Type, Dyno Mill, etc.), Dispersers (High-Speed, Twin-Shaft, Triple-Shaft, Vacuum, Platform, and Fixed Type), and Homogenizers (In-Line, In-Tank, High Shear), and other equipment such as Attritor Mill, Basket Mill, Sigma Mixer, and Liquid Powder Mixing Machine.
The company offers machinery under three categories:
The company operates two units located at Rai Industrial Estate, Sonipat, Haryana, each covering about 1,012.50 sq. meters. The facilities are equipped with advanced CNC machines, laser cutting equipment, welding units, polishing machines, and quality testing systems.
The company is certified with quality standards, including ISO 9001:2015 and ISO 45001:2018.
In addition to manufacturing, it also undertakes turnkey projects for Water-based and solvent-based ink manufacturing plants, construction chemical and adhesive production lines, and agro-chemical plant setups.
The company also provides comprehensive services, including construction, erection, dismantling work, installation, and commissioning charges, among others.
As of December 31, 2025, the company had 96 permanent employees.
Competitive strengths
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 114.55 | 100.96 | 65.72 | 28.04 |
| Total Income | 86.25 | 133.37 | 101.36 | 35.98 |
| Profit After Tax | 13.19 | 15.61 | 8.45 | 2.56 |
| EBITDA | 20.89 | 23.85 | 12.14 | 3.47 |
| NET Worth | 46.41 | 33.23 | 12.51 | 2.57 |
| Reserves and Surplus | 31.09 | 33.21 | 12.50 | 2.56 |
| Total Borrowing | 37.52 | 37.23 | 25.68 | 8.42 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment of all or certain of our borrowings availed of by our Company | 30.00 |
| 2 | Funding Working Capital Requirement of the Company | 7.66 |
| 3 | General corporate purposes | 4.65 |
| Total | 42.31 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 33.12% | 68.26% |
| ROCE | 24.76% | 33.27% |
| Debt/Equity | 0.81 | 1.12 |
| RoNW | 28.41% | 46.98% |
| PAT Margin | 15.35% | 11.72% |
| EBITDA Margin | 24.32% | 17.91% |
| Price to Book Value | 4.10 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.19 | 8.47 |
| P/E (x) | 8.73 | 10.51 |
| Promoter Holding | 87.19% | 57.79% |
| Market Cap | ₹184.83 Cr. |
The Tipco Engineering IPO is subscribed 1.70 times on March 25, 2026 6:54:34 PM (Day 3). The public issue subscribed 0.66 times in the individual investors category, 3.20 times in the QIB category, and 2.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 3.20 | 11,56,800 | 37,05,600 | 0 |
| NII* | 2.12 | 8,73,600 | 18,54,400 | 0 |
| bNII (> ₹10L) | 2.81 | 5,82,400 | 16,38,400 | |
| sNII (< ₹10L) | 0.74 | 2,91,200 | 2,16,000 | |
| Individual Investor | 0.66 | 20,32,000 | 13,50,400 | 0 |
| Total | 1.70 | 40,62,400 | 69,10,400 | 474 |
Total Applications: 474
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission and marketing commission | 5.79 |
| 2 | Brokerage, selling commission and upload fees | 0.01 |
| 3 | Registrars to the offer | 0.02 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising expenses | 0.06 |
| 6 | Regulators including stock exchanges | 0.10 |
| 7 | Printing and distribution of issue stationary | 0.01 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, peer review auditors) | 1.71 |
| Total | 7.72 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹89.00 |
| Open | ₹89.25 |
| Low | ₹84.79 |
| High | ₹90.00 |
| Last Trade | ₹84.79 |
Lead Manager Reports
Tipco Engineering IPO is a SME IPO of 68,03,200 equity shares of the face value of ₹10 aggregating up to ₹61 Crores. The issue is priced at ₹89 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Mar 23, 2026, and closes on Wed, Mar 25, 2026.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Tipco Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Tipco Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tipco Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tipco Engineering IPO opens on Mon, Mar 23, 2026 and closes on Wed, Mar 25, 2026.
Tipco Engineering IPO lot size is 1600, and the minimum amount required for application is ₹2,84,800, with 2 lots being the minimum application size.
You can apply in Tipco Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tipco Engineering IPO will be done on Friday, March 27, 2026, and the allotted shares will be credited to your demat account by Mon, Mar 30, 2026. Check the Tipco Engineering IPO allotment status.
The Tipco Engineering IPO listing date is on Wed, Apr 1, 2026.
