The Tipco Engineering IPO is a book-built issue valued at ₹60.55 crore. The offering consists of a fresh issue of 0.54 crore shares worth ₹48.49 crore and an offer for sale (OFS) of 0.14 crore shares amounting to ₹12.06 crore.
The IPO will open for subscription on March 23, 2026, and will close on March 25, 2026. The allotment of shares is expected to be finalised on March 27, 2026. The company is scheduled to list on the BSE SME platform, with the tentative listing date set for April 1, 2026.
The price band for the Tipco Engineering IPO has been fixed at ₹84 to ₹89 per share. Investors can apply in a lot size of 1,600 shares. For retail investors, the minimum investment requirement is two lots, or 3,200 shares, which amounts to ₹2,84,800 at the upper price band. High Net-worth Individuals (HNIs) are required to apply for a minimum of three lots, equivalent to 4,800 shares, translating to an investment of ₹4,27,200.
Smart Horizon Capital Advisors Pvt. Ltd is acting as the book-running lead manager for the issue, while Maashitla Securities Pvt. Ltd has been appointed as the registrar. Shreni Shares Ltd will serve as the market maker for the IPO. Refer to Tipco Engineering IPO RHP for complete details.
Tipco Engineering IPO Objectives
The company plans to utilise the Net Proceeds from the issue for the following purposes:
- ₹3,000 lakh from the IPO proceeds for the repayment or prepayment of all or certain borrowings availed by the company.
- An amount of ₹766 lakh will be used to fund the working capital requirements of the company.
- For general corporate purposes.
About Tipco Engineering Limited
Tipco Engineering Limited is engaged in the manufacturing and supply of a wide range of industrial machinery used across multiple sectors. Its product portfolio includes bead mills, batch type bead mills, lab bead mills, horizontal bead mills, vertical bead mills, Tungsten Carbide Pin-Type Bead Mills, Disc Type Horizontal Bead Mills, Dyno Mills, lab dyno mills, pug mills, attritor mills, lab attritor mills, basket mills, combined pin and disc type bead mills, ceramic bead mills, high-speed dispersers, twin-shaft dispersers, triple-shaft dispersers, vacuum high-speed dispersers, in-line homogenizers, in-tank homogenizers, liquid powder mixing machines, and sigma mixers.
These machines are used by industries such as paints and coatings, chemicals, printing and packaging, metals, and construction and infrastructure.
The company offers machinery under three primary product categories: Mill Series, Disperser Series, and Homogenizers Series. Sales of manufactured products form the core of the company’s business, contributing approximately 92.27% of its revenue from operations based on the average performance for the period ended December 31, 2025, and the financial years 2025, 2024, and 2023.
Tipco Engineering has recorded strong growth in its financial performance over recent years. For the financial year 2025, the company reported revenue from operations of ₹13,313.78 lakh, compared with ₹10,122.60 lakh in financial year 2024 and ₹3,597.41 lakh in financial year 2023, reflecting a compound annual growth rate (CAGR) of 92.38% between FY23 and FY25. For the period ended December 31, 2025, the company generated revenue of ₹8,590.35 lakh.
The company maintains a strong focus on quality and reliability and holds certifications such as ISO 9001:2015 and ISO 45001:2018. With years of industry experience, Tipco Engineering develops products designed to meet the evolving needs of modern industrial operations. Its operational philosophy emphasises strict quality control, rigorous testing processes, and continuous improvement to ensure products and services meet international standards.
Apart from manufacturing, the company also engages in trading ancillary products aligned with its core operations. Additionally, it offers services such as construction, erection and dismantling work, as well as installation and commissioning of equipment.
The company sources key raw materials such as iron, steel, aluminium, electric motors, gearboxes, mechanical seals, and bearings primarily from domestic suppliers. Tipco Engineering maintains a network of reliable vendors to ensure consistent quality and supply. Sales activities across India are managed by a dedicated sales team operating from the company’s registered office, responsible for order acquisition, negotiations, and market research to support the company’s growth strategy.
Industry Outlook
- India’s engineering and electrical equipment sectors are witnessing strong growth, with the electrical equipment market expected to expand by US$ 33.74 billion between 2021 and 2025 at a CAGR of around 9%, while investment in engineering R&D is projected to reach US$ 63 billion by 2025.
- The construction and machinery segments are also expected to grow steadily. India’s construction equipment market is projected to increase from ₹69,046 crore in 2025 to ₹1,02,827 crore by 2030 at a CAGR of 8.3%, while the machine tools market is estimated to reach US$ 2.5 billion by 2028.
- Strong growth in automotive, EV, and engineering exports is supporting industrial demand, with EV sales reaching 20 lakh units in FY25 and engineering goods exports expected to reach US$ 200 billion by 2030.
How To Apply for the Tipco Engineering IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Tipco Engineering IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Tipco Engineering IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Tipco Engineering Limited
Registered office: P.No. 1658, Phase I, Sector 38, Industrial Estate Rai Distt., Sonepat, P.S.Rai, Sonipat, Haryana, India, 131029.
Phone: +91 9996635489
Email Id: investors@tipcoengineering.com
Tipco Engineering IPO Reservation
| 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%) |
| Retail Shares Offered | 20,32,000 (29.87%) |
| Total Shares Offered | 68,03,200 (100.00%) |
Tipco Engineering IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 3200 | ₹2,84,800 |
| Individual investors (Retail) (Max) | 2 | 3200 | ₹2,84,800 |
| HNI (Min) | 3 | 4800 | ₹4,27,200 |
Tipco Engineering IPO Promoter Holding
The promoters of the company include Mr. Ritesh Sharma and Ms. Sonia Sharma.
| Share Holding Pre-Issue | 87.19% |
| Share Holding Post Issue | - |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Tipco Engineering IPO
| KPI | Value (FY 2025) |
| PAT Margin (%) | 11.72 |
| RoE (%) | 68.26 |
| EBITDA Margin (%) | 17.91 |
| RoCE (%) | 33.27 |
Tipco Engineering IPO Registrar and Lead Managers
Tipco Engineering IPO Lead Managers
- Smart Horizon Capital Advisors Pvt Ltd
Registrar for Tipco Engineering IPO
Maashitla Securities Pvt.Ltd.
- Phone Number: +91-11-45121795-96
- Email Address: investor.ipo@maashitla.com
Financial Performance of Tipco Engineering Limited
| Key Financial Performance | Dec 31, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
| Revenue from Operations (₹ in Lakhs) | 8,590.35 | 13,313.78 | 10,122.60 | 3,597.41 |
| EBITDA (₹ in Lakhs) | 2,089.37 | 2,384.67 | 1,214.47 | 347.34 |
| PAT (₹ in Lakhs) | 1,318.70 | 1,561.04 | 844.52 | 256.12 |
| Debt-Equity Ratio | 0.81 | 1.12 | 2.05 | 3.28 |
| Net Fixed Asset Turnover Ratio (times) | 6.48 | 4.16 | 41.21 | 73.66 |
Strengths and Opportunities of Tipco Engineering Limited
- Tipco Engineering Limited offers a wide range of industrial machinery across three key categories, Mill Series, Disperser Series, and Homogenizers Series, enabling it to cater to diverse industry requirements.
- The company has developed long-standing relationships with key customers and suppliers through its focus on quality products, timely delivery, customised solutions, and reliable service.
- The business is led by experienced promoters, Ritesh Sharma and Sonia Sharma, supported by a skilled management team with strong industry knowledge and operational expertise.
- Tipco Engineering operates an integrated manufacturing setup where most processes are carried out in-house, allowing better control over quality, costs, and production efficiency.
- As of December 31, 2025, the company had a strong order book of ₹7,640.95 lakh, reflecting consistent demand and providing visibility for future revenue growth.
- The company is focusing on expanding its export business to strengthen its presence in international markets and diversify its revenue sources.
- Tipco Engineering has entered into a business cooperation agreement with a German company to develop new products, improve technology capabilities, and enhance product quality.
- The company aims to strengthen relationships with existing customers while expanding its customer base through trade exhibitions, dealer networks, and increased marketing initiatives to drive higher sales volumes.
Risks and Threats of Tipco Engineering Limited
- Tipco Engineering Limited faces operational risks due to potential labour shortages and possible incidents or accidents at its manufacturing unit, which could interrupt production and affect operations.
- The company is exposed to the risk of confidential business information being leaked by employees to competitors, which could impact its competitive position in the market.
- A significant portion of the company’s revenue depends on its top customers, with the top 10 customers contributing a large share of total revenue, and the absence of long-term contracts increases the risk of order cancellations or reduced demand.
- The company’s procurement is concentrated among a limited number of suppliers, and any disruption in the supply of raw materials from key suppliers could adversely affect production and profitability.
- The business is subject to regulatory risks, as the inability to obtain, renew, or maintain necessary statutory licenses, permits, and approvals could negatively impact its operations.
- Certain discrepancies and non-compliances in financial reporting, statutory filings, or tax-related records may expose the company to regulatory scrutiny, penalties, or legal actions.
- The company’s registered office and manufacturing unit are located on property owned by a promoter and a promoter group entity, which may create potential risks if agreements are terminated or commercial arrangements change.
- A large share of the company’s sales comes from specific domestic regions such as Uttar Pradesh, Rajasthan, and Haryana, making its revenue vulnerable to regional economic or operational disruptions.
