IPO Overview
Tipco Engineering IPO is a book build issue of 0.68 crore shares. The issue is a combination of fresh issue of 0.54 crore shares and offer for sale of 0.14 crore shares. Tipco Engineering IPO opens for subscription on Mar 23, 2026 and closes on Mar 25, 2026. The allotment for the Tipco Engineering IPO is expected to be finalized on Mar 27, 2026. Tipco Engineering IPO will list on BSE SME with a tentative listing date fixed as Apr 1, 2026.
| Particular | Details |
|---|---|
| IPO Size | Rs. [.] crores |
| Business | Industrial machinery manufacturing for chemicals, coatings, inks and processing industries |
| Market Presence | Domestic industrial clients across manufacturing sectors |
| Key Risk | Small scale operations and dependence on industrial capex cycle |
| Chanakya View | Niche engineering machinery business with improving profitability; execution scale and order conversion remain key monitorables |
| Particular | Details |
|---|---|
| IPO Date | 23–25 March 2026 |
| Price Band | To be declared |
| Lot Size | To be declared |
| Issue Size | 68,03,200 shares |
| Listing Date | 1 April 2026 |
IPO Details | GMP | Subscription | Review | Allotment | Financials | Registrar | FAQ
👉 Latest Tipco Engineering IPO GMP, subscription status, financials, valuation and Chanakya review explained below.
Tipco Engineering IPO GMP – Latest Update
Tipco Engineering IPO GMP data is awaited. The latest grey market premium update will be reflected below once active indications emerge.
| GMP | Estimated Listing Price | Expected Gains |
|---|---|---|
| Rs. NIL | To be declared | — |
Grey Market Premium (GMP) indicates the estimated listing sentiment based on unofficial market demand and may change frequently.
Tipco Engineering IPO Subscription Status – Live Update
Tipco Engineering IPO subscription status is yet to begin. Live category-wise subscription data will be updated once the issue opens for bidding.
| Category | Subscription |
|---|---|
| QIB | Not Open Yet |
| B-NII | Not Open Yet |
| S-NII | Not Open Yet |
| NII Total | Not Open Yet |
| Retail (RII) | Not Open Yet |
| Total | Not Open Yet |
| Applications | Not Open Yet |
Updated: Subscription data will be updated once bidding starts on Mar 23, 2026.
Tipco Engineering IPO allotment status will be finalised on Friday, Mar 27, 2026. Investors can check allotment status online through Maashitla Securities once the basis of allotment is completed.
| Particular | Details |
|---|---|
| Price Band | To be declared |
| Face Value | Rs. 10 per share |
| Issue Type | Book Building IPO |
| Category | Minimum Shares | Investment |
|---|---|---|
| Retail Minimum | To be declared | To be declared |
| Retail Maximum | To be declared | To be declared |
Tipco Engineering IPO listing date is tentatively scheduled for Wednesday, Apr 1, 2026 on BSE SME.
🕗 Last Updated: 14 March 2026 at 6.00 AM IST
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IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Opening Date | Monday, 23 Mar 2026 |
| IPO Closing Date | Wednesday, 25 Mar 2026 |
| Listing Date (Tentative) | Wednesday, 1 Apr 2026 |
| Face Value | Rs. 10 per share |
| Price Band | To be declared |
| Lot Size | To be declared |
| Issue Type | Book Building IPO |
| Sale Type | Fresh capital cum OFS |
| Total Issue Size | 68,03,200 shares (agg. up to Rs. [.] Cr) |
| Reserved for Market Maker | 10,20,800 shares (agg. up to Rs. [.] Cr) |
| Market Maker | Shreni Shares Ltd. |
| Fresh Issue (Ex Market Maker) | 44,27,200 shares (agg. up to Rs. [.] Cr) |
| Offer for Sale | 13,55,200 shares of Rs. 10 (agg. up to Rs. [.] Cr) |
| Net Offered to Public | 57,82,400 shares (agg. up to Rs. [.] Cr) |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,53,19,584 shares |
| Share Holding Post Issue | 2,07,67,584 shares |
| Market Cap (Pre-IPO) | To be declared |
IPO Timetable
| Event | Date |
|---|---|
| IPO Opens | Mon, Mar 23, 2026 |
| IPO Closes | Wed, Mar 25, 2026 |
| Allotment | Fri, Mar 27, 2026 |
| Refunds | Mon, Mar 30, 2026 |
| Credit of Shares | Mon, Mar 30, 2026 |
| Listing | Wed, Apr 1, 2026 |
Reservation
| Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 10,20,800 (15.00%) |
| QIB Shares Offered | 28,76,800 (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 (12.84%) |
| Retail Shares Offered | 20,32,000 (29.87%) |
| Total Shares Offered | 68,03,200 (100.00%) |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investors (Retail) (Min) | To be declared | To be declared | To be declared |
| Individual Investors (Retail) (Max) | To be declared | To be declared | To be declared |
| S-HNI (Min) | To be declared | To be declared | To be declared |
| S-HNI (Max) | To be declared | To be declared | To be declared |
| B-HNI (Min) | To be declared | To be declared | To be declared |
Company Details
Tipco Engineering India Ltd., incorporated in September 2021, is engaged in manufacturing and supplying industrial machinery used in industries such as paint and coatings, chemicals, printing and packaging, construction materials, metal processing and infrastructure.
The company manufactures a wide range of machinery including bead mills (batch type, lab mills, horizontal mills, vertical mills, pin-type mills, disc type mills and dyno mills), dispersers (high-speed dispersers, twin-shaft dispersers, triple-shaft dispersers, vacuum dispersers, platform and fixed type dispersers) and homogenizers such as in-line, in-tank and high shear homogenizers.
Its product portfolio is broadly divided into three key segments. The Mill Series is used for grinding and milling operations in chemical and coating industries. The Disperser Series is designed for uniform mixing and dispersion of chemical components. The Homogenizer Series is used to break down and blend particles to achieve uniform texture and consistency in liquid or semi-solid products.
The company operates two manufacturing facilities located at Rai Industrial Estate, Sonipat, Haryana. Each facility spans approximately 1,012.50 square meters and is equipped with CNC machinery, laser cutting systems, welding units, polishing machines and quality testing equipment.
Apart from equipment manufacturing, Tipco Engineering also undertakes turnkey engineering projects such as setting up ink manufacturing plants, construction chemical production lines, adhesive manufacturing systems and agrochemical plants. It also provides associated services including erection, commissioning, dismantling, installation and project support services.
As of December 31, 2025, the company had 96 permanent employees.
Competitive Strengths
Wide range of industrial machinery products
Repeat orders from customers
Experienced promoter and management team
Integrated manufacturing setup under one roof
Strong order book of Rs. 14.48 crores (as on September 15, 2025)
| Particular | Details |
|---|---|
| Company Promoters | Mr. Ritesh Sharma and Ms. Sonia Sharma |
| Company Address | P.No. 1658, Phase I, Sector 38, Industrial Estate Rai Distt., Sonepat, P.S. Rai, Sonipat, Haryana, 131029 |
| Contact Number | +91 9996635489 |
| investors@tipcoengineering.com |
| IPO Lead Manager(s) | Details |
|---|---|
| Book Running Lead Manager | Smart Horizon Capital Advisors Pvt. Ltd. |
| IPO Registrar | Details |
|---|---|
| Registrar | Maashitla Securities Pvt. Ltd. |
| Contact | +91-11-45121795-96 |
| investor.ipo@maashitla.com |
Financials
| Particulars | 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 |
| EBITDA | 20.89 | 23.85 | 12.14 | 3.47 |
| PAT | 13.19 | 15.61 | 8.45 | 2.56 |
| Net Worth | 46.41 | 33.23 | 12.51 | 2.57 |
| Reserves & Surplus | 31.09 | 33.21 | 12.50 | 2.56 |
| Total Borrowings | 37.52 | 37.23 | 25.68 | 8.42 |
IPO Objects of the Issue
| Issue Objects | Est Amt (Rs. Cr.) |
|---|---|
| Repayment/prepayment of certain borrowings | 30.00 |
| Funding working capital requirements | 8.16 |
| General corporate purposes | — |
| 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% |
Valuation
| Particular | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs.) | To be declared | To be declared |
| P/E (x) | To be declared | To be declared |
| Promoter Holding | 87.19% | To be declared |
| Market Cap | To be declared | To be declared |
Chanakya View
Tipco Engineering operates in a specialised engineering machinery segment supplying equipment to industries such as paints, chemicals, construction chemicals and printing inks. The business benefits from rising industrial manufacturing activity and demand for process equipment across specialty chemical and coatings industries.
The company has demonstrated strong growth in profitability over the past three years with improving margins and return ratios. Its integrated manufacturing setup and repeat customer base provide some operational stability, while the order book visibility adds short-term revenue confidence.
However, the company operates at a relatively small scale and remains dependent on capital expenditure cycles in industrial sectors. Execution capability, order inflow consistency and working capital management will remain key factors to watch after listing.
From a medium-term perspective, the IPO may attract investors looking for niche engineering manufacturing exposure in the SME segment, though risk appetite suitable for SME issues is essential.
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
Tipco Engineering IPO GMP data is awaited
Tipco Engineering IPO price band is yet to be announced.
Tipco Engineering IPO lot size is yet to be announced.
Tipco Engineering IPO will tentatively list on Apr 1, 2026.