Tipco Engineering IPO Sees Slow Start, Books 1% on First Day with Flat GMP Trades

Tipco Engineering IPO Update

IPO Details The Tipco Engineering IPO commenced on Monday, March 23 and is scheduled to conclude on Wednesday, March 25. The IPO price band has been set at ₹84 to ₹89 per equity share, with a face value of ₹10. Investors can place bids for a minimum of 1,600 equity shares, with additional shares to be bid in multiples of 1,600.

Company Overview Tipco Engineering specializes in the production and distribution of industrial machinery catering to various industries, including paints and coatings, chemicals, printing and packaging, metals, construction, and infrastructure. The company offers a diverse product portfolio, comprising specialized machinery such as Bead Mills, Dispersers, Homogenizers, Attritor Mills, and Liquid Powder Mixing Machines.

Manufacturing Facilities The company has two production facilities in the Rai Industrial Estate in Sonipat, Haryana, covering an area of approximately 1,012.50 square meters. These plants are equipped with state-of-the-art infrastructure, including CNC machines, laser cutting technologies, and quality testing equipment.

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IPO Subscription Status As of day 1, the IPO subscription status stands at 1%, with the retail portion subscribed 1% and the NII portion booked 1%. The QIB segment remains unsubscribed.

IPO Details The offering consists of a fresh issue amounting to ₹48.49 crore and an offer for sale totaling ₹12.06 crore. The company has secured approximately ₹15.31 crore from anchor investors prior to the issue. The proceeds from the IPO will primarily be utilized for debt repayment, addressing working capital needs, and general corporate purposes.

Allocation The allocation for the issue comprises 42.29% for Qualified Institutional Buyers (QIBs), 12.84% for Non-Institutional Investors (NIIs), and 29.87% for retail investors, along with a 15% portion designated for market makers.

Grey Market Premium The Tipco Engineering IPO grey market premium (GMP) today stands at ₹0, indicating shares are trading at their issue price of ₹89 with no premium or discount in the grey market.

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