Zerodha

Angel One

(₹20/Trade)

Zerodha

(Free Intraday)

IPOs, NCDs, OFS, Rights Issues, Buyback and Stock Brokers

Mainboard IPOs & FPOS SME IPOs & FPOS NCD Issues Rights Issues IPO Reports Stock Broker Stock Report

Tipco Engineering India IPO Details

Bookbuilding IPO | ₹61 Cr | Listing at BSE SME | Mon, Mar 23, 2026 - Wed, Mar 25, 2026

IPO Stats
IPO Timetable
FAQ

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 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 the BSE SME with a tentative listing date fixed as Apr 1, 2026.

Tipco Engineering IPO is set issue price band at ₹84 to ₹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

Price Band

₹84 to ₹89

Market Cap (Pre-IPO)

₹184.83 Cr

IPO Details

IPO Date

23 to 25 Mar, 2026
Listing Date

Wed, Apr 1, 2026
Face Value

₹10 per share
Price Band

₹84 to ₹89
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 (agg. up to ₹9 Cr) Shreni Shares Ltd.
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

IPO Timetable (Tentative)

IPO Open

Mon, Mar 23, 2026
Allotment

Fri, Mar 27, 2026
Credit of Shares

Mon, Mar 30, 2026

IPO Close

Wed, Mar 25, 2026
Refund

Mon, Mar 30, 2026
Listing

Wed, Apr 1, 2026

IPO Reservation

Tipco Engineering IPO offers total 68,03,200 shares. Out of which 28,76,800 (42.29%) allocated to QIB, 11,56,800 (17.00%) allocated to QIB (Ex- Anchor), 8,73,600 (12.84%) allocated to NII 20,32,000 (29.87%) allocated to RII and 17,20,000 (25.28%) allocated to Anchor investors.

Investor 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%)
− bNII > ₹10L	5,82,400 (8.56%)
− sNII < ₹10L	2,91,200 (4.28%)
Retail Shares Offered	20,32,000 (29.87%)
Total Shares Offered	68,03,200 (100.00%)

IPO Lot Size

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

IPO Subscription Details

IPO Anchor Investors

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

IPO Anchor Investors List

About Tipco Engineering India Ltd.

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:

Mill Series– Used for grinding and milling operations.
Disperser Series– Used for mixing and dispersing chemical components uniformly.
Homogenizer Series– Used to blend or break down particles for uniform texture and consistency.

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

Wide Range of Products
Repeat orders from Customers
Experienced Promoter and management team with proven execution capabilities
Manufacturing setup under one roof
Strong order book of Rs 1,448.52 Lakhs (As on September 15, 2025)

Company Financials (Restated)

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

IPO Objects of the Issue

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
Total

37.66

Key Performance Indicator (KPI)

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%
Market Cap	₹184.83 Cr.

Mr. Ritesh Sharma and Ms. Sonia Sharma are the company promoters.

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2025 available in RHP.

IPO Review

[Dilip Davda]

TEL is engaged in the manufacturing and supplying of comprehensive range of machinery such as bead mill of various types and other machinery. The company marked growth in its top and bottom lines for the reported periods. Boosted profits from FY24 onwards raise eyebrows and concern over its sustainability going forward. Based on its current financial data, the issue appears lucratively priced based on its low P/E reflecting bumper profits for recent years. Well-informed investors may park funds for medium to long term.

Read detail review…

Tipco Engineering IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	0	0	0	1
Members	0	0	0	0

IPO Subscription Status

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.

IPO Registrar

Maashitla Securities Pvt.Ltd.

+91-11-45121795-96
investor.ipo@maashitla.com
Visit Website

IPO Lead Manager(s)

Smart Horizon Capital Advisors Pvt.Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Tipco Engineering India Ltd. Address

P.No. 1658, Phase I, Sector 38,

Industrial Estate Rai Distt.,

Sonepat, P.S.Rai,

Sonipat, Haryana, 131029

+91 9996635489
investors@tipcoengineering.com
Visit Website

IPO FAQs

What is the Tipco Engineering IPO?

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 ₹84 to ₹89. 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.

How to apply in Tipco Engineering IPO through Angel One?

Angel One customers can apply online in Tipco Engineering IPO using UPI as a payment gateway. Angel One customers can apply in Tipco Engineering IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Tipco Engineering IPO through Angel One

Visit the Angel Onewebsite and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Tipco Engineering IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

When Tipco Engineering IPO will open?

The Tipco Engineering IPO opens on Mon, Mar 23, 2026 and closes on Wed, Mar 25, 2026.

What is the lot size of Tipco Engineering IPO?

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.

How to apply for Tipco Engineering IPO?

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 Angel One , Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Tipco Engineering IPO allotment?

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.

When is Tipco Engineering IPO listing date ?

The Tipco Engineering IPO listing date is not yet announced. The tentative date of listing is Wed, Apr 1, 2026.