Tipco Engineering share price makes flat debut on BSE SME, lists at ₹89.25 apiece

Tipco Engineering share price made a flat debut in the Indian stock market on Wednesday, April 1. The shares of Tipco Engineering are listed at less than 1% premium on BSE SME.

Tipco Engineering share price opened at ₹89.25 apiece on BSE. This means that the IPO allottees made less than 1% gain over the Tipco Engineering IPO listing.

The listing of Tipco Engineering IPO came in line with the market expectations. The GMP of Tipco Engineering IPO was +0 ahead of listing. This means that the estimated listing price of Tipco Engineering IPO was ₹89, same as the IPO price.

Tipco Engineering IPO details

Tipco Engineering’s IPO is a book-built issue worth ₹60.55 crore, comprising a fresh issue of 0.54 crore shares amounting to ₹48.49 crore and an offer for sale of 0.14 crore shares aggregating to ₹12.06 crore.

The IPO was open for subscription on March 23 and closed on March 25 with the allotment finalised by March 27.

The price band for the issue was set at ₹84– ₹89 per share, with a lot size of 1,600 shares. For retail investors, the minimum investment stands at ₹2,84,800 for 3,200 shares, calculated at the upper end of the price band.

Among investor categories, qualified institutional buyers (QIBs) showed strong demand, subscribing 3.2 times their allotted portion, while non-institutional investors (NIIs) subscribed 2.1 times. In contrast, retail participation was relatively weak at 0.66 times, indicating muted interest from smaller investors in potential listing gains.

The company plans to utilise the IPO proceeds primarily to improve its balance sheet, with ₹30 crore allocated for debt repayment and ₹7.66 crore earmarked for working capital needs.

Tipco Engineering is engaged in manufacturing industrial equipment such as bead mills, dispersers, and homogenisers, serving industries including chemicals, coatings, printing, and packaging. It also executes turnkey projects for manufacturing plants, contributing to its services revenue.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.