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25 Mar 2026
Fluid and powder machinery manufacturer Tipco Engineering India's initial public offering has attracted decent demand from investors, closing with 1.56 times subscription on March 25.
The company tapped capital markets to raise Rs 60.55 crore via public issue of 68.03 lakh shares at the upper end of price band of Rs 84-89 per share. The IPO is a combination of fresh issue of 54.48 lakh shares worth Rs 48.48 crore, and an offer-for-sale of 13.55 lakh shares amounting to Rs 12.06 crore by promoter Ritesh Sharma.
Investors have put in bids for 79.31 lakh shares against offer size of 50.83 lakh shares via 472 applications with major response from non-retail investors.
Qualified institutional buyers picked shares 3.2 times their allotted quota, while the portion set aside for non-institutional investors was subscribed 1.52 times, and that of retail 66 percent.
The IPO share allotment will be finalised by March 27, while the participants can start trading in Tipco Engineering shares on the BSE SME on April 1.
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In fact, this would be the first company from the SME segment listing next month.
Before the IPO opening for public subscription, Tipco Engineering already raised Rs 15.3 crore by allocating 17.2 lakh shares to four anchor investors - Rajasthan Global Securities, LRSD Securities, INTI Capital, and PSEB Alpha Fund - at the upper price band.
The Haryana-based company that offers plants and machineries mainly across three different series - mill, disperser and homogenizers series will utilise Rs 30 crore of proceeds from the fresh issue for repayment of certain borrowings, Rs 7.66 crore for working capital requirement, and the remaining funds for general corporate purposes.
