Tipco Engineering India IPO to open on March 23, price band set at Rs 84-89 per share

Tipco Engineering India IPO News

• Tipco Engineering India IPO to open on March 23
• Price band at Rs 84-89 per share
• IPO of 68.03 lakh shares comprises of fresh issue of 54.48 lakh shares, and an offer-for-sale of 13.55 lakh shares

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Industrial machineries manufacturer Tipco Engineering India will open its maiden public issue amounting to over Rs 60 crore for subscription on March 23. This is the only company launching IPO in the SME segment, so far, next week.

The one-day IPO anchor book will be opened on March 20, while the offer for the public will close on March 25. The company will finalise IPO share allotment by March 27, while its shares will be available for trading on the BSE SME effective April 1.

The Haryana-based company is raising Rs 60.5 crore via initial public offering (IPO) of 68.03 lakh shares which comprises of fresh issue of 54.48 lakh shares, and an offer-for-sale of 13.55 lakh shares by promoter Ritesh Sharma.

Tipco Engineering, which supplies industrial machineries for several industries such as paint and coatings, chemicals, printing and packaging, metal, construction, and infrastructure, has fixed price band at Rs 84-89 per share.

The company will utilise Rs 30 crore of proceeds from the fresh issue for repayment of certain borrowings, Rs 7.66 crore for its working capital requirement, and the balance amount for general corporate purposes.

The total outstanding secured borrowings of the company was Rs 30.27 crore as of December 2025, which suggests that the company is likely to be debt-free post issue.

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On the financial front, Tipco Engineering has recorded profit of Rs 13.2 crore on revenue of Rs 85.9 crore for nine months period ended December 2025.

Profit in the financial year ended March 2025 was Rs 15.6 crore, increasing 84.8 percent from Rs 8.4 crore in previous fiscal. Revenue during the same period surged 31.5 percent to Rs 133.1 crore, from Rs 101.2 crore.

Merchant banker Smart Horizon Capital Advisors is managing the Tipco Engineering India IPO.