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TIPCO Engineering India Ltd IPO

Status: Closed

Overview

IPO date
23 Mar 2026 to 25 Mar 2026
Face value
₹ 10 per share
Price
₹ 84 to ₹89 per share
Issue Size
6,803,200 shares
(aggregating up to ₹ 60.55 Cr)
Allotment Date
27 Mar 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Capital Goods-Non Electrical Equipment

Objectives of TIPCO Engineering India Ltd IPO

TIPCO Engineering India Ltd IPO Strategy

About TIPCO Engineering India Ltd

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T&C*

Strengths vs Risks of TIPCO Engineering India Ltd

Know the pros & cons

Strengths

  • arrowWide Range of Products.
  • arrowQuality products.
  • arrowRepeat orders from Customers.
  • arrowExperienced Promoter and management team with proven execution capabilities and Skilled work force with contemporary capabilities.
  • arrowManufacturing setup under one roof.
  • arrowStrong order book.

Risks

  • arrowOur business operations rely significantly on the continuous and timely supply of raw materials from top one supplier, top 5 and top 10 suppliers, Also, we do not have continuing and exclusive supply agreement with them. Our purchases of stock-in-trade from top 10 suppliers are 59.93%, 56.66% and 67.83% in fiscal years 2025, 2024 and 2023 respectively, accordingly, this exposes us to a concentration of purchases from top 10 suppliers and also, any interruptions or discontinuation of same will adversely impact our overall performance and profitability.
  • arrowWe generate our majority of the sales from domestic market of which major portion of sales from our operations is generated from certain geographical regions especially, Uttar Pradesh, Rajasthan and Haryana which totally contributed 73.03%, 81.86% and 65.46% for fiscals 2025, 2024 and 2023 respectively and minority portion of sales is from international market. Any adverse developments affecting our operations in these regions could have an adverse impact on our revenue and results of operations.
  • arrowWe have entered into and may enter into related party transactions in the future, however, there can be no assurance that such transactions, individually or taken together, will not have an adverse effect on our business, prospects, results of operations and financial condition.
  • arrowThe company has certain outstanding litigation against us, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • arrowOur Registered Office and Manufacturing Unit both are situated at the same place and is owned by one of our Promoters, Mr. Ritesh Sharma and one of the Promoter Group Entities, M/s. RGVY Enterprises (partnership firm of Mr. Ritesh Sharma and Ms. Sonia Sharma). In any event, the arrangements entered into are not on commercially acceptable/favourable terms for our Company or there is a disruption of our rights since there being the Interest of our promoters directly or indirectly or termination of the agreements with our promoters or promoter group entity, our Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
  • arrowThe restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of our Company.
  • arrowThe company is dependent on the performance of industries viz. Paint and Coating, Constructions and Infrastructure and metal which totally contributed 88.79%, %, 88.47 and 70.33% of its revenue from operations in fiscals 2025, 2024 and 2023 respectively in which the company's customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertakes or the price at which the company offer its services.
  • arrowOur existing registered office and manufacturing unit are concentrated in a single region i.e., Sonepat in the state of Haryana and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Haryana and the inability to operate and grow our business in this particular region may have an adverse effect on our business, financial condition, results of operations, cash flows and future business prospects.
  • arrowOur Order Book may not be representative of our future results. Orders included in our Book may be delayed, cancelled or not fully paid for by our customers, which could materially harm our cash flow position, revenues and earnings.
  • arrowIn the past and in the current scenario, our Company sources the raw materials from domestic market and majority of the domestic purchases are from Haryana, Uttar Pradesh and Delhi and very less purchases are from international market i.e. China. Any adverse developments affecting our procurement from this state or such geographical concentration in the domestic purchases, could have an adverse impact on our revenue and results of operations.
  • arrowOur Company have negative cash flows in the current and past years from operating and investing activities, details of which are given below. Sustained negative cash flow could impact our growth and business.
  • arrowOur company's limited operational history in manufacturing of plants & machineries, which may pose challenges in accurately forecasting future performance and effectively responding to evolving market conditions and also which might be considered as risks and challenges due to limited experience and regulatory complexity in the machineries manufacturing sector.
  • arrowIn case of our inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate our business it may have a material adverse effect on our business.
  • arrowOne of the proprietorship concern M/s. Tipco Engineering Works of one of our promoter group members, Late Kailash Chander, had been issued with a publication notice u/s. 13(2) of the SARFAESI Act, 2002, by the RBL Bank on June 23, 2021 for the reason of classification of its loan account into NPA.
  • arrowOur business is dependent on our manufacturing unit, and the loss or shutdown of operations of our manufacturing unit may have a material adverse effect on our business, results of operations, cash flows and financial condition.
  • arrowOur promoter group entities are in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of our Company.
  • arrowThere are certain delay filings/non filings noticed in some of our corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for such delay filings/non filings with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • arrowThere are certain discrepancies and non-compliances noticed in some of our financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect our revenue from operations.
  • arrowWe have incurred financial indebtedness, also certain of our financing arrangements involve variable interest rates and an increase in interest rates may adversely affect our results of operations and financial condition.
  • arrowWe propose to repay or prepay all or a portion of certain outstanding borrowings availed by our Company, However, no assurance can be made that our Company will not require further funding and that such funding will be available at attractive rates or that by repaying the borrowings, will in fact improve our available funding alternatives.
  • arrowOur Company requires significant amounts of working capital for a continued growth. Our inability to meet our working capital requirements may have an adverse effect on our results of operations.
  • arrowOur company's and one of our promoter group entity's place of business are situated at the same property, which could lead to potential conflicts of interest and adversely affect our business and financial performance.
  • arrowOur Company has availed unsecured loans that may be recalled by the lenders, failure to repay unsecured loans in a timely manner may have a material adverse effect on our business, results of operation, financial condition and cash flow.
  • arrowThe Electricity bill and water bill of our registered office and manufacturing unit comes in the name of our demised Promoter group member, Late Kailash Chander. Updation in the name of electricity bill and water bill are under process. Inability to update the same would affect our business, financial condition, results of operations, cash flows and future business prospects.
  • arrowOne of our Independent Directors and Senior Managerial Personnel does not posses the mandatory KYC document and have not filed an application for renewal of the expired documents.
  • arrowSome of our Directors on our Board have no experience of being directors in any other listed entity within India, therefore, they will be able to provide limited guidance in relation to affairs of our Company post listing.
  • arrowThe Non-Competition Agreement executed by our Company can have potential implications of operating expenses which could result in hindrances to our profit margin, cash flows and business operations, also the agreements entered into contain material terms which if not adhered to could have material impact on the business operations of our Company.
  • arrowWe do not have certain documents evidencing the educational qualifications of our Promoters, Chairman & Managing Director, Whole Time Director and Non-Executive Independent Director in the section entitled "Our Management" beginning on page 180 of this Draft Red Herring Prospectus.
  • arrowManufacturing and supply of plants and machineries are subject to strict quality requirements and any failure to comply with quality standards may lead to cancellation of existing and future orders.
  • arrowInformation relating to historical installed capacity of our manufacturing unit included in this Draft Red Herring Prospectus is based on various assumptions and estimates and our future manufacturing operations and capacity utilization may vary. Under-utilization of our existing manufacturing unit and an inability to effectively utilize our manufacturing capacities could have an adverse effect on our business, future prospects, and future financial performance.
  • arrowFailure to meet our manufacturing timelines could impact our reputation and could also lead to penalty or cancellation of our contracts, which can adversely impact the business operations and financial condition of the Company.
  • arrowOur success largely depends upon the knowledge and experience of our Promoters, Directors, our Key Managerial Personnel and Senior Management as well as our ability to attract and retain personnel with technical expertise. Any loss of our Promoters, Directors, Key Managerial Personnel, Senior Management or our inability to attract and retain them and other personnel with technical expertise could adversely affect our business, financial condition and results of operations.
  • arrowOur company lacks listed peer companies for comparison, this absence of comparable may lead to uncertainty in assessing investment viability for the Investors.
  • arrowOur insurance coverage may not be adequate to protect us against all potential losses, which may have a material adverse effect on our business, financial condition and results of operations.
  • arrowCompliance with, and changes in, safety, health and environmental laws and other related laws and regulations impose additional costs and may adversely affect our results of operations and our financial condition.
  • arrowThe average cost of acquisition of Equity Shares by our Promoters/Selling Shareholder could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
  • arrowOur Promoters and members of the Promoter Group will continue jointly to retain majority control over our Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • arrowIn addition to normal remuneration, other benefits and reimbursement of expenses, some of our directors (including our Promoters) are interested in our Company to the extent of their shareholding, rent and dividend entitlement in our Company.
  • arrowWe operate in a competitive environment and face fair competition in our business from organized and unorganized players, which may adversely affect our business operations and financial condition.
  • arrowThe company is dependent on IT technology in carrying out the company's business activities and it forms an integral part of its business. If the company face failures of the company's information technology systems, the company may not be able to compete effectively which may result in lower revenue, higher costs and would adversely affect the company's business and results of operations.
  • arrowOur success depends upon our ability to attract, develop and retain trained manpower while also maintaining low labour costs.
  • arrowWe are exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact our results of operations.
  • arrowWe are dependent on third-party transportation providers for the supply of products and delivery of our finished products, However, any such reductions or interruptions in the supply of the products could adversely affect our Business, Results of Operations and Financial Condition and may have an adverse effect on our ability to deliver our products in a timely or cost-effective manner.
  • arrowOur inability to accurately forecast demand or price for our products and manage our inventory may adversely affect our business, results of operations and financial condition.
  • arrowWithin the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 97 of this Draft Red Herring Prospectus, our Company's management will have flexibility in applying the proceeds of the Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • arrowAny variation in the utilization of the Net Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company, if such approval is not obtained in a timely manner, or at all, it could negatively affect our operations.
  • arrowPortion of our Offer Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Offer Proceed, if Company could not utilise the Portion of our Offer Proceeds allocated for general corporate purposes and such unutilized Net Proceeds is in the interest of our Company, our ability to do so may be restricted, thereby limiting our flexibility to respond to changing business or financial conditions, and adversely affecting our business, results of operations, cash flows, and financial condition.
  • arrowTerrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, our business, financial condition and the price of our Equity Shares.
  • arrowWe may not be successful in implementing our business strategies, Failure to implement our business strategies would have a material adverse effect on our business and results of operations.
  • arrowIf the company is unable to source business opportunities effectively, the company may not achieve its financial objectives.
  • arrowThe Company's ability to pay dividends in the future will depend on the Company's future results of operations, financial condition, cash flows and working capital and capital expenditure requirements.
  • arrowThe company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified the company's.
  • arrowIf the company's fails to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, the company financial risks. Despite the company's internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • arrowThe Company will not receive any proceeds from the Offer for Sale. The company'sPromoter Selling Shareholder will receive the proceeds from the Offer for Sale.
  • arrowSubsequent to the listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • arrowSignificant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. The company failures to successfully adopt IFRS may have an adverse effect on the price of the company's Equity Shares. The proposed adoption of IFRS could result in the company's financial condition and results of operations appearing materially different than under Indian GAAP.
  • arrowThe company depends on top 10 customers for a significant portion of its revenues from operations which contributed 75.80%, 78.83%, 76.94% and 60.97% of the company's revenue from operations, respectively in a period ended December 31, 2025 and in the fiscal year 2025, 2024 and 2023, Also, the Company in the usual course of Business does not have any long-term contracts with its customers and the company relies on purchase orders for delivery of the company's products and the company's customers may cancel or modify their orders, change quantities, delay or change their sourcing strategy. Loss of one or more of its top Customers or a reduction in their demand for the company's products or reduction in revenue derived from them may adversely affect its Business, Results of Operations and Financial Condition.
  • arrowThe company's business operations relies significantly on the continuous and timely supply of raw materials from top one supplier, top 5 and top 10 suppliers, Also, the company does not have continuing and exclusive supply agreement with them. The company's purchases of stock-in-trade from top 10 suppliers are 71.61%, 59.93%, 56.66% and 67.83% in period ended December 31, 2025 and in fiscal years 2025, 2024 and 2023 respectively, accordingly, this exposes the company to a concentration of purchases from top 10 suppliers and also, any interruptions or discontinuation of same will adversely impact its overall performance and profitability.
  • arrowIn case of the company's inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on the company's business.
  • arrowOne of the proprietorship concern . Tipco Engineering Works of one of the company's promoter group members, Late Kailash Chander, had been issued with a publication notice u/s. 13(2) of the SARFAESI Act, 2002, by the RBL Bank on June 23, 2021 for the reason of classification of its loan account into NPA.
  • arrowThere are certain discrepancies and non-compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect the company's revenue from operations.
  • arrowThe company's Registered Office and Manufacturing Unit both are situated at the same place and is owned by one of the company's Promoters, Ritesh Sharma and one of the Promoter Group Entities, RGVY Enterprises (partnership firm of Ritesh Sharma and Sonia Sharma). In any event, the arrangements entered into are not on commercially acceptable/favourable terms for the Company or there is a disruption of the company's rights since there being the Interest of the company's promoters directly or indirectly or termination of the agreements with our promoters or promoter group entity, our Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
  • arrowThere are certain delay filings/non filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for such delay filings/non filings with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • arrowThe restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
  • arrowThe company's Order Book may not be representative of its future results. Orders included in the company's Book may be delayed, cancelled or not fully paid for by the company's customers, which could materially harm its cash flow position, revenues and earnings.
  • arrowThe company generates its majority of the sales from domestic market of which major portion of sales from the company's operations is generated from certain geographical regions especially, Uttar Pradesh, Rajasthan and Haryana which totally contributed 60.95%, 73.03%, 81.86% and 65.46% for the period ended December 31, 2025 and for the fiscals 2025, 2024 and 2023 respectively and minority portion of sales is from international market. Any adverse developments affecting its operations in these regions could have an adverse impact on the company's revenue and results of operations.
  • arrowThe company has entered into and may enter into related party transactions in the future, however, there can be no assurance that such transactions, individually or taken together, will not have an adverse effect on the company's business, prospects, results of operations and financial condition.
  • arrowThe company has certain outstanding litigation against the company, an adverse outcome of which may adversely affect its business, reputation and results of operations
  • arrowThe company is dependent on the performance of industries viz. Paint and Coating, Constructions and Infrastructure and metal which totally contributed 72.50%, 88.79%, %, 88.47, and 70.33% of its revenue from operations in the period ended December 31, 2025 and in the fiscals 2025, 2024 and 2023 respectively in which the company's customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertake or the price at which the company offers its services.,
  • arrowThe company's existing registered office and manufacturing unit are concentrated in a single region i.e., Sonepat in the state of Haryana and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Haryana and the inability to operate and grow our business in this particular region may have an adverse effect on the company's business, financial condition, results of operations, cash flows and future business prospects.
  • arrowIn the past and in the current scenario, the Company sources the raw materials from domestic market and majority of the domestic purchases are from Haryana, Uttar Pradesh and Delhi and very less purchases are from international market i.e. China. Any adverse developments affecting its procurement from this state or such geographical concentration in the domestic purchases, could have an adverse impact on the company's revenue and results of operations.
  • arrowThe company's promoter group entities are in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of the Company
  • arrowThe Company has negative cash flows in the current and past years from operating, investing and financing activities, details of which are given below. Sustained negative cash flow could impact its growth and business.
  • arrowThe company's limited operational history in manufacturing of plants & machineries, which may pose challenges in accurately forecasting future performance and effectively responding to evolving market conditions and also which might be considered as risks and challenges due to limited experience and regulatory complexity in the machineries manufacturing sector.
  • arrowDiscontinued customers are more than the continued customers.
  • arrowThe company's business is dependent on the company's manufacturing unit, and the loss or shutdown of operations of its manufacturing unit may have a material adverse effect on the company's business, results of operations, cash flows and financial condition.
  • arrowThe Company requires significant amounts of working capital for a continued growth. The company's inability to meet its working capital requirements may have an adverse effect on the company's results of operations.
  • arrowThe company has incurred financial indebtedness, also certain of its financing arrangements involve variable interest rates and an increase in interest rates may adversely affect the company's results of operations and financial condition.
  • arrowThe company proposes to repay or prepay all or a portion of certain outstanding borrowings availed by the Company, However, no assurance can be made that the Company will not require further funding and that such funding will be available at attractive rates or that by repaying the borrowings, will in fact improve its available funding alternatives.
  • arrowThe company's and one of its promoter group entity's place of business are situated at the same property, which could lead to potential conflicts of interest and adversely affect the company's business and financial performance.
  • arrowThe Company has availed unsecured loans that may be recalled by the lenders, failures to repay unsecured loans in a timely manner may have a material adverse effect on the company's business, results of operation, financial condition and cash flow.
  • arrowOne of the company's Independent Director does not posses the mandatory KYC document and have not filed an application for the possession of the said documents.
  • arrowSome of the company's Directors on its Board have no experience of being directors in any other listed entity within India, therefore, they will be able to provide limited guidance in relation to affairs of the Company post listing.
  • arrowThe Non-Competition Agreement and Resource Sharing Agreement executed by the Company can have potential implications of operating expenses which could result in hindrances to the company's profit margin, cash flows and business operations, also the agreements entered into contain material terms which if not adhered to could have material impact on the business operations of the Company.
  • arrowManufacturing and supply of plants and machineries are subject to strict quality requirements and any failures to comply with quality standards may lead to cancellation of existing and future orders.
  • arrowThe company does not have certain documents evidencing the educational qualifications of the company's Promoters, Chairman & Managing Director, Whole Time Director and Non-Executive Independent Director in the section entitled "the company's Management" beginning on page 192 of this Red Herring Prospectus.
  • arrowThe Company's logo and brand name is currently not registered with Registrar of Trademark; any infringement of its logo and brand name or failures to get it registered may adversely affect the company's Business. Further, any kind of negative publicity or misuse of its logo and brand name could hamper the company's Goodwill and the company's future Growth Strategies could be adversely affected.
  • arrowFailures to meet its manufacturing timelines could impact the company's reputation and could also lead to penalty or cancellation of the company's contracts, which can adversely impact the business operations and financial condition of the Company.
  • arrowInformation relating to historical installed capacity of the company's manufacturing unit included in this Red Herring Prospectus is based on various assumptions and estimates and the company's future manufacturing operations and capacity utilization may vary. Under-utilization of its existing manufacturing unit and an inability to effectively utilize the company's manufacturing capacities could have an adverse effect on the company's business, future prospects, and future financial performance.
  • arrowThe company's Promoters, Ritesh Sharma and Ms. Sonia Sharma and one of the promoter group entity. Tipco Engineering Works and. RGVY Enterprise have provided personal guarantees for loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as our Promoters and thereby, impact its business and operations.
  • arrowThe Company's manufacturing activities are labour intensive and depends on availability of labour. In case of unavailability of such labour, the company's business operations could be affected.
  • arrowThe company's success largely depends upon the knowledge and experience of its Promoters, Directors, the company's Key Managerial Personnel and Senior Management as well as the company's ability to attract and retain personnel with technical expertise. Any loss of its Promoters, Directors, Key Managerial Personnel, Senior Management or the company's inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
  • arrowThe company lacks listed peer companies for comparison, this absence of comparable may lead to uncertainty in assessing investment viability for the Investors.
  • arrowThe company's insurance coverage may not be adequate to protect the company against all potential losses, which may have a material adverse effect on the company's business, financial condition and results of operations.
  • arrowCompliance with, and changes in, safety, health and environmental laws and other related laws and regulations impose additional costs and may adversely affect its results of operations and our financial condition.
  • arrowThe average cost of acquisition of Equity Shares by the company's Promoters/Selling Shareholder could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
  • arrowThe company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • arrowIn addition to normal remuneration, other benefits and reimbursement of expenses, some of its directors (including the company's Promoters) are interested in the Company to the extent of their shareholding, rent and dividend entitlement in the Company.
  • arrowThe company operates in a competitive environment and faces fair competition in the company's business from organized and unorganized players, which may adversely affect its business operations and financial condition.
  • arrowThe company is dependent on IT technology in carrying out the company's business activities and it forms an integral part of its business. If the company faces failures of its information technology systems, the company may not be able to compete effectively which may result in lower revenue, higher costs and would adversely affect its business and results of operations.
  • arrowThe company's success depends upon its ability to attract, develop and retain trained manpower while also maintaining low labour costs.
  • arrowThe company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
  • arrowThe company is dependent on third-party transportation providers for the supply of products and delivery of the company's finished products, However, any such reductions or interruptions in the supply of the products could adversely affect its Business, Results of Operations and Financial Condition and may have an adverse effect on the company's ability to deliver its products in a timely or cost-effective manner.
  • arrowThe company's inability to accurately forecast demand or price for its products and manage the company's inventory may adversely affect its business, results of operations and financial condition.
  • arrowWithin the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 106 of this Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of the Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • arrowAny variation in the utilization of the Net Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company, if such approval is not obtained in a timely manner, or at all, it could negatively affect its operations.
  • arrowPortion of the company's Offer Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Offer Proceed, if Company could not utilise the Portion of its Offer Proceeds allocated for general corporate purposes and such unutilized Net Proceeds is in the interest of the Company, the company's ability to do so may be restricted, thereby limiting the company's flexibility to respond to changing business or financial conditions, and adversely affecting its business, results of operations, cash flows, and financial condition.
  • arrowTerrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, the company's business, financial condition and the price of its Equity Shares.
  • arrowThe company may not be successful in implementing its business strategies, Failures to implement the company's business strategies would have a material adverse effect on the company's business and results of operations.
  • arrowIf the company is unable to source business opportunities effectively,the company may not achieve its financial objectives.
  • arrowThe Company's ability to pay dividends in the future will depend on the Company's future results of operations, financial condition, cash flows and working capital and capital expenditure requirements.
  • arrowThe company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
  • arrowIf the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, the company's financial risks. Despite its internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • arrowFailures to deal effectively with fraudulent activities on emails would increase its fraud losses and harm our business and could severely diminish seller and customer confidence in and use of the company's products.
  • arrowAs the company continues to grow, the company may not be able to effectively manage its growth and the increased complexity of the company's business, which could negatively impact its brand and financial performance.
  • arrowThe Company will not receive any proceeds from the Offer for Sale. The company's Promoter Selling Shareholder will receive the proceeds from the Offer for Sale.
  • arrowSubsequent to the listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • arrowSignificant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. The company's failures to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in the company's financial condition and results of operations appearing materially different than under Indian GAAP.

TIPCO Engineering India Ltd Peer Comparison

Understand the company’s industry standing

Tipco Engineering India Limited
Face Value
10
Standalone / Consolidated
Standalone
Total Income Rs. Cr.
---
EPS-Basis
10.88
EPS-Diluted
10.88
NAV Per Share
21.69
P/E-Basic EPS
---
P/E-Diluted EPS
---
RONW(%)
46.98
Latest NAV Period
---
Latest NAV
---
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The IPO opens on 23 Mar 2026 & closes on 25 Mar 2026.

TIPCO Engineering India Limited was incorporated on September 30, 2021 as a private limited Company dated September 30, 2021 with the Registrar of Companies, Central Processing Centre. Further, Company converted into a public limited Company vide fresh certificate of incorporation w.e.f. September 03, 2025 issued by Assistant Registrar of Companies, Central Processing Centre. Company operate the business from the Phase I Manufacturing Unit in Sonipat district of Haryana and is engaged in manufacturing and supplying a comprehensive range of plants and machinery such as bead mill, batch type bead mill, lab bead mill, horizontal bead mill, vertical bead mill, Tungsten Carbide Pin-Type Bead Mill, Disc Type Horizontal Bead Mill, Dyno Mill, Lab Dyno Mill, Pug Mill, Attritor Mill, Lab Attritor Mill, Basket Mill, Combined Pin and Disc Type Bead Mill, Ceramic Bead Mill, Lab High-Speed Disperser, High-Speed Disperser, Twin-Shaft Disperser, Triple-Shaft Disperser, Vacuum High-Speed Disperser, Fixed Type Disperser, Platform Type Disperser, In-Line Homogenizer, In-Tank Homogenizers, High Shear In-Tank Homogenizer, Liquid Powder Mixing Machine, and Sigma Mixer. It is serving industries such as Paint and Coatings, Chemical, Printing and packaging, Metal industry, construction and infrastructure and machinery and equipment. Apart from these, Company offer plants and machineries mainly across three different series i.e., Mill Series, Disperser Series and Homogenizers Series. It also offer comprehensive turnkey solutions for water-based and solvent-based ink manufacturing plants, Construction chemicals /Adhesive Production line, Argo-chemical plant setup etc. The major raw material for machinery is iron, steel, aluminium, electric motor, gear boxes, mechanical seals, bearings etc. Company is planning the initial public offer of 56,70,000 equity shares having the face value of Rs 10, comprising a fresh issue of 45,40,000 equity shares and the offer for sale of 11,30,000 equity shares.

TIPCO Engineering India Ltd IPO will close on 25 Mar 2026.

  • Wide Range of Products.
  • Quality products.
  • Repeat orders from Customers.
  • Experienced Promoter and management team with proven execution capabilities and Skilled work force with contemporary capabilities.
  • Manufacturing setup under one roof.
  • Strong order book.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Ritesh Sharma 9437190 61.6 8081990 38.92
2 Sonia Sharma 3473190 22.67 3473190 16.72
3 Veena Rani Sharma 447000 2.92 447000 2.15

  • Our business operations rely significantly on the continuous and timely supply of raw materials from top one supplier, top 5 and top 10 suppliers, Also, we do not have continuing and exclusive supply agreement with them. Our purchases of stock-in-trade from top 10 suppliers are 59.93%, 56.66% and 67.83% in fiscal years 2025, 2024 and 2023 respectively, accordingly, this exposes us to a concentration of purchases from top 10 suppliers and also, any interruptions or discontinuation of same will adversely impact our overall performance and profitability.
  • We generate our majority of the sales from domestic market of which major portion of sales from our operations is generated from certain geographical regions especially, Uttar Pradesh, Rajasthan and Haryana which totally contributed 73.03%, 81.86% and 65.46% for fiscals 2025, 2024 and 2023 respectively and minority portion of sales is from international market. Any adverse developments affecting our operations in these regions could have an adverse impact on our revenue and results of operations.
  • We have entered into and may enter into related party transactions in the future, however, there can be no assurance that such transactions, individually or taken together, will not have an adverse effect on our business, prospects, results of operations and financial condition.
  • The company has certain outstanding litigation against us, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • Our Registered Office and Manufacturing Unit both are situated at the same place and is owned by one of our Promoters, Mr. Ritesh Sharma and one of the Promoter Group Entities, M/s. RGVY Enterprises (partnership firm of Mr. Ritesh Sharma and Ms. Sonia Sharma). In any event, the arrangements entered into are not on commercially acceptable/favourable terms for our Company or there is a disruption of our rights since there being the Interest of our promoters directly or indirectly or termination of the agreements with our promoters or promoter group entity, our Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
  • The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of our Company.
  • The company is dependent on the performance of industries viz. Paint and Coating, Constructions and Infrastructure and metal which totally contributed 88.79%, %, 88.47 and 70.33% of its revenue from operations in fiscals 2025, 2024 and 2023 respectively in which the company's customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertakes or the price at which the company offer its services.
  • Our existing registered office and manufacturing unit are concentrated in a single region i.e., Sonepat in the state of Haryana and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Haryana and the inability to operate and grow our business in this particular region may have an adverse effect on our business, financial condition, results of operations, cash flows and future business prospects.
  • Our Order Book may not be representative of our future results. Orders included in our Book may be delayed, cancelled or not fully paid for by our customers, which could materially harm our cash flow position, revenues and earnings.
  • In the past and in the current scenario, our Company sources the raw materials from domestic market and majority of the domestic purchases are from Haryana, Uttar Pradesh and Delhi and very less purchases are from international market i.e. China. Any adverse developments affecting our procurement from this state or such geographical concentration in the domestic purchases, could have an adverse impact on our revenue and results of operations.
  • Our Company have negative cash flows in the current and past years from operating and investing activities, details of which are given below. Sustained negative cash flow could impact our growth and business.
  • Our company's limited operational history in manufacturing of plants & machineries, which may pose challenges in accurately forecasting future performance and effectively responding to evolving market conditions and also which might be considered as risks and challenges due to limited experience and regulatory complexity in the machineries manufacturing sector.
  • In case of our inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate our business it may have a material adverse effect on our business.
  • One of the proprietorship concern M/s. Tipco Engineering Works of one of our promoter group members, Late Kailash Chander, had been issued with a publication notice u/s. 13(2) of the SARFAESI Act, 2002, by the RBL Bank on June 23, 2021 for the reason of classification of its loan account into NPA.
  • Our business is dependent on our manufacturing unit, and the loss or shutdown of operations of our manufacturing unit may have a material adverse effect on our business, results of operations, cash flows and financial condition.
  • Our promoter group entities are in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of our Company.
  • There are certain delay filings/non filings noticed in some of our corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for such delay filings/non filings with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • There are certain discrepancies and non-compliances noticed in some of our financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect our revenue from operations.
  • We have incurred financial indebtedness, also certain of our financing arrangements involve variable interest rates and an increase in interest rates may adversely affect our results of operations and financial condition.
  • We propose to repay or prepay all or a portion of certain outstanding borrowings availed by our Company, However, no assurance can be made that our Company will not require further funding and that such funding will be available at attractive rates or that by repaying the borrowings, will in fact improve our available funding alternatives.
  • Our Company requires significant amounts of working capital for a continued growth. Our inability to meet our working capital requirements may have an adverse effect on our results of operations.
  • Our company's and one of our promoter group entity's place of business are situated at the same property, which could lead to potential conflicts of interest and adversely affect our business and financial performance.
  • Our Company has availed unsecured loans that may be recalled by the lenders, failure to repay unsecured loans in a timely manner may have a material adverse effect on our business, results of operation, financial condition and cash flow.
  • The Electricity bill and water bill of our registered office and manufacturing unit comes in the name of our demised Promoter group member, Late Kailash Chander. Updation in the name of electricity bill and water bill are under process. Inability to update the same would affect our business, financial condition, results of operations, cash flows and future business prospects.
  • One of our Independent Directors and Senior Managerial Personnel does not posses the mandatory KYC document and have not filed an application for renewal of the expired documents.
  • Some of our Directors on our Board have no experience of being directors in any other listed entity within India, therefore, they will be able to provide limited guidance in relation to affairs of our Company post listing.
  • The Non-Competition Agreement executed by our Company can have potential implications of operating expenses which could result in hindrances to our profit margin, cash flows and business operations, also the agreements entered into contain material terms which if not adhered to could have material impact on the business operations of our Company.
  • We do not have certain documents evidencing the educational qualifications of our Promoters, Chairman & Managing Director, Whole Time Director and Non-Executive Independent Director in the section entitled "Our Management" beginning on page 180 of this Draft Red Herring Prospectus.
  • Manufacturing and supply of plants and machineries are subject to strict quality requirements and any failure to comply with quality standards may lead to cancellation of existing and future orders.
  • Information relating to historical installed capacity of our manufacturing unit included in this Draft Red Herring Prospectus is based on various assumptions and estimates and our future manufacturing operations and capacity utilization may vary. Under-utilization of our existing manufacturing unit and an inability to effectively utilize our manufacturing capacities could have an adverse effect on our business, future prospects, and future financial performance.
  • Failure to meet our manufacturing timelines could impact our reputation and could also lead to penalty or cancellation of our contracts, which can adversely impact the business operations and financial condition of the Company.
  • Our success largely depends upon the knowledge and experience of our Promoters, Directors, our Key Managerial Personnel and Senior Management as well as our ability to attract and retain personnel with technical expertise. Any loss of our Promoters, Directors, Key Managerial Personnel, Senior Management or our inability to attract and retain them and other personnel with technical expertise could adversely affect our business, financial condition and results of operations.
  • Our company lacks listed peer companies for comparison, this absence of comparable may lead to uncertainty in assessing investment viability for the Investors.
  • Our insurance coverage may not be adequate to protect us against all potential losses, which may have a material adverse effect on our business, financial condition and results of operations.
  • Compliance with, and changes in, safety, health and environmental laws and other related laws and regulations impose additional costs and may adversely affect our results of operations and our financial condition.
  • The average cost of acquisition of Equity Shares by our Promoters/Selling Shareholder could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
  • Our Promoters and members of the Promoter Group will continue jointly to retain majority control over our Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • In addition to normal remuneration, other benefits and reimbursement of expenses, some of our directors (including our Promoters) are interested in our Company to the extent of their shareholding, rent and dividend entitlement in our Company.
  • We operate in a competitive environment and face fair competition in our business from organized and unorganized players, which may adversely affect our business operations and financial condition.
  • The company is dependent on IT technology in carrying out the company's business activities and it forms an integral part of its business. If the company face failures of the company's information technology systems, the company may not be able to compete effectively which may result in lower revenue, higher costs and would adversely affect the company's business and results of operations.
  • Our success depends upon our ability to attract, develop and retain trained manpower while also maintaining low labour costs.
  • We are exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact our results of operations.
  • We are dependent on third-party transportation providers for the supply of products and delivery of our finished products, However, any such reductions or interruptions in the supply of the products could adversely affect our Business, Results of Operations and Financial Condition and may have an adverse effect on our ability to deliver our products in a timely or cost-effective manner.
  • Our inability to accurately forecast demand or price for our products and manage our inventory may adversely affect our business, results of operations and financial condition.
  • Within the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 97 of this Draft Red Herring Prospectus, our Company's management will have flexibility in applying the proceeds of the Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • Any variation in the utilization of the Net Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company, if such approval is not obtained in a timely manner, or at all, it could negatively affect our operations.
  • Portion of our Offer Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Offer Proceed, if Company could not utilise the Portion of our Offer Proceeds allocated for general corporate purposes and such unutilized Net Proceeds is in the interest of our Company, our ability to do so may be restricted, thereby limiting our flexibility to respond to changing business or financial conditions, and adversely affecting our business, results of operations, cash flows, and financial condition.
  • Terrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, our business, financial condition and the price of our Equity Shares.
  • We may not be successful in implementing our business strategies, Failure to implement our business strategies would have a material adverse effect on our business and results of operations.
  • If the company is unable to source business opportunities effectively, the company may not achieve its financial objectives.
  • The Company's ability to pay dividends in the future will depend on the Company's future results of operations, financial condition, cash flows and working capital and capital expenditure requirements.
  • The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified the company's.
  • If the company's fails to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, the company financial risks. Despite the company's internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • The Company will not receive any proceeds from the Offer for Sale. The company'sPromoter Selling Shareholder will receive the proceeds from the Offer for Sale.
  • Subsequent to the listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. The company failures to successfully adopt IFRS may have an adverse effect on the price of the company's Equity Shares. The proposed adoption of IFRS could result in the company's financial condition and results of operations appearing materially different than under Indian GAAP.
  • The company depends on top 10 customers for a significant portion of its revenues from operations which contributed 75.80%, 78.83%, 76.94% and 60.97% of the company's revenue from operations, respectively in a period ended December 31, 2025 and in the fiscal year 2025, 2024 and 2023, Also, the Company in the usual course of Business does not have any long-term contracts with its customers and the company relies on purchase orders for delivery of the company's products and the company's customers may cancel or modify their orders, change quantities, delay or change their sourcing strategy. Loss of one or more of its top Customers or a reduction in their demand for the company's products or reduction in revenue derived from them may adversely affect its Business, Results of Operations and Financial Condition.
  • The company's business operations relies significantly on the continuous and timely supply of raw materials from top one supplier, top 5 and top 10 suppliers, Also, the company does not have continuing and exclusive supply agreement with them. The company's purchases of stock-in-trade from top 10 suppliers are 71.61%, 59.93%, 56.66% and 67.83% in period ended December 31, 2025 and in fiscal years 2025, 2024 and 2023 respectively, accordingly, this exposes the company to a concentration of purchases from top 10 suppliers and also, any interruptions or discontinuation of same will adversely impact its overall performance and profitability.
  • In case of the company's inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on the company's business.
  • One of the proprietorship concern . Tipco Engineering Works of one of the company's promoter group members, Late Kailash Chander, had been issued with a publication notice u/s. 13(2) of the SARFAESI Act, 2002, by the RBL Bank on June 23, 2021 for the reason of classification of its loan account into NPA.
  • There are certain discrepancies and non-compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect the company's revenue from operations.
  • The company's Registered Office and Manufacturing Unit both are situated at the same place and is owned by one of the company's Promoters, Ritesh Sharma and one of the Promoter Group Entities, RGVY Enterprises (partnership firm of Ritesh Sharma and Sonia Sharma). In any event, the arrangements entered into are not on commercially acceptable/favourable terms for the Company or there is a disruption of the company's rights since there being the Interest of the company's promoters directly or indirectly or termination of the agreements with our promoters or promoter group entity, our Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
  • There are certain delay filings/non filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for such delay filings/non filings with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
  • The company's Order Book may not be representative of its future results. Orders included in the company's Book may be delayed, cancelled or not fully paid for by the company's customers, which could materially harm its cash flow position, revenues and earnings.
  • The company generates its majority of the sales from domestic market of which major portion of sales from the company's operations is generated from certain geographical regions especially, Uttar Pradesh, Rajasthan and Haryana which totally contributed 60.95%, 73.03%, 81.86% and 65.46% for the period ended December 31, 2025 and for the fiscals 2025, 2024 and 2023 respectively and minority portion of sales is from international market. Any adverse developments affecting its operations in these regions could have an adverse impact on the company's revenue and results of operations.
  • The company has entered into and may enter into related party transactions in the future, however, there can be no assurance that such transactions, individually or taken together, will not have an adverse effect on the company's business, prospects, results of operations and financial condition.
  • The company has certain outstanding litigation against the company, an adverse outcome of which may adversely affect its business, reputation and results of operations
  • The company is dependent on the performance of industries viz. Paint and Coating, Constructions and Infrastructure and metal which totally contributed 72.50%, 88.79%, %, 88.47, and 70.33% of its revenue from operations in the period ended December 31, 2025 and in the fiscals 2025, 2024 and 2023 respectively in which the company's customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertake or the price at which the company offers its services.,
  • The company's existing registered office and manufacturing unit are concentrated in a single region i.e., Sonepat in the state of Haryana and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Haryana and the inability to operate and grow our business in this particular region may have an adverse effect on the company's business, financial condition, results of operations, cash flows and future business prospects.
  • In the past and in the current scenario, the Company sources the raw materials from domestic market and majority of the domestic purchases are from Haryana, Uttar Pradesh and Delhi and very less purchases are from international market i.e. China. Any adverse developments affecting its procurement from this state or such geographical concentration in the domestic purchases, could have an adverse impact on the company's revenue and results of operations.
  • The company's promoter group entities are in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of the Company
  • The Company has negative cash flows in the current and past years from operating, investing and financing activities, details of which are given below. Sustained negative cash flow could impact its growth and business.
  • The company's limited operational history in manufacturing of plants & machineries, which may pose challenges in accurately forecasting future performance and effectively responding to evolving market conditions and also which might be considered as risks and challenges due to limited experience and regulatory complexity in the machineries manufacturing sector.
  • Discontinued customers are more than the continued customers.
  • The company's business is dependent on the company's manufacturing unit, and the loss or shutdown of operations of its manufacturing unit may have a material adverse effect on the company's business, results of operations, cash flows and financial condition.
  • The Company requires significant amounts of working capital for a continued growth. The company's inability to meet its working capital requirements may have an adverse effect on the company's results of operations.
  • The company has incurred financial indebtedness, also certain of its financing arrangements involve variable interest rates and an increase in interest rates may adversely affect the company's results of operations and financial condition.
  • The company proposes to repay or prepay all or a portion of certain outstanding borrowings availed by the Company, However, no assurance can be made that the Company will not require further funding and that such funding will be available at attractive rates or that by repaying the borrowings, will in fact improve its available funding alternatives.
  • The company's and one of its promoter group entity's place of business are situated at the same property, which could lead to potential conflicts of interest and adversely affect the company's business and financial performance.
  • The Company has availed unsecured loans that may be recalled by the lenders, failures to repay unsecured loans in a timely manner may have a material adverse effect on the company's business, results of operation, financial condition and cash flow.
  • One of the company's Independent Director does not posses the mandatory KYC document and have not filed an application for the possession of the said documents.
  • Some of the company's Directors on its Board have no experience of being directors in any other listed entity within India, therefore, they will be able to provide limited guidance in relation to affairs of the Company post listing.
  • The Non-Competition Agreement and Resource Sharing Agreement executed by the Company can have potential implications of operating expenses which could result in hindrances to the company's profit margin, cash flows and business operations, also the agreements entered into contain material terms which if not adhered to could have material impact on the business operations of the Company.
  • Manufacturing and supply of plants and machineries are subject to strict quality requirements and any failures to comply with quality standards may lead to cancellation of existing and future orders.
  • The company does not have certain documents evidencing the educational qualifications of the company's Promoters, Chairman & Managing Director, Whole Time Director and Non-Executive Independent Director in the section entitled "the company's Management" beginning on page 192 of this Red Herring Prospectus.
  • The Company's logo and brand name is currently not registered with Registrar of Trademark; any infringement of its logo and brand name or failures to get it registered may adversely affect the company's Business. Further, any kind of negative publicity or misuse of its logo and brand name could hamper the company's Goodwill and the company's future Growth Strategies could be adversely affected.
  • Failures to meet its manufacturing timelines could impact the company's reputation and could also lead to penalty or cancellation of the company's contracts, which can adversely impact the business operations and financial condition of the Company.
  • Information relating to historical installed capacity of the company's manufacturing unit included in this Red Herring Prospectus is based on various assumptions and estimates and the company's future manufacturing operations and capacity utilization may vary. Under-utilization of its existing manufacturing unit and an inability to effectively utilize the company's manufacturing capacities could have an adverse effect on the company's business, future prospects, and future financial performance.
  • The company's Promoters, Ritesh Sharma and Ms. Sonia Sharma and one of the promoter group entity. Tipco Engineering Works and. RGVY Enterprise have provided personal guarantees for loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as our Promoters and thereby, impact its business and operations.
  • The Company's manufacturing activities are labour intensive and depends on availability of labour. In case of unavailability of such labour, the company's business operations could be affected.
  • The company's success largely depends upon the knowledge and experience of its Promoters, Directors, the company's Key Managerial Personnel and Senior Management as well as the company's ability to attract and retain personnel with technical expertise. Any loss of its Promoters, Directors, Key Managerial Personnel, Senior Management or the company's inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
  • The company lacks listed peer companies for comparison, this absence of comparable may lead to uncertainty in assessing investment viability for the Investors.
  • The company's insurance coverage may not be adequate to protect the company against all potential losses, which may have a material adverse effect on the company's business, financial condition and results of operations.
  • Compliance with, and changes in, safety, health and environmental laws and other related laws and regulations impose additional costs and may adversely affect its results of operations and our financial condition.
  • The average cost of acquisition of Equity Shares by the company's Promoters/Selling Shareholder could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
  • The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • In addition to normal remuneration, other benefits and reimbursement of expenses, some of its directors (including the company's Promoters) are interested in the Company to the extent of their shareholding, rent and dividend entitlement in the Company.
  • The company operates in a competitive environment and faces fair competition in the company's business from organized and unorganized players, which may adversely affect its business operations and financial condition.
  • The company is dependent on IT technology in carrying out the company's business activities and it forms an integral part of its business. If the company faces failures of its information technology systems, the company may not be able to compete effectively which may result in lower revenue, higher costs and would adversely affect its business and results of operations.
  • The company's success depends upon its ability to attract, develop and retain trained manpower while also maintaining low labour costs.
  • The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
  • The company is dependent on third-party transportation providers for the supply of products and delivery of the company's finished products, However, any such reductions or interruptions in the supply of the products could adversely affect its Business, Results of Operations and Financial Condition and may have an adverse effect on the company's ability to deliver its products in a timely or cost-effective manner.
  • The company's inability to accurately forecast demand or price for its products and manage the company's inventory may adversely affect its business, results of operations and financial condition.
  • Within the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 106 of this Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of the Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • Any variation in the utilization of the Net Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company, if such approval is not obtained in a timely manner, or at all, it could negatively affect its operations.
  • Portion of the company's Offer Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Offer Proceed, if Company could not utilise the Portion of its Offer Proceeds allocated for general corporate purposes and such unutilized Net Proceeds is in the interest of the Company, the company's ability to do so may be restricted, thereby limiting the company's flexibility to respond to changing business or financial conditions, and adversely affecting its business, results of operations, cash flows, and financial condition.
  • Terrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, the company's business, financial condition and the price of its Equity Shares.
  • The company may not be successful in implementing its business strategies, Failures to implement the company's business strategies would have a material adverse effect on the company's business and results of operations.
  • If the company is unable to source business opportunities effectively,the company may not achieve its financial objectives.
  • The Company's ability to pay dividends in the future will depend on the Company's future results of operations, financial condition, cash flows and working capital and capital expenditure requirements.
  • The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
  • If the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, the company's financial risks. Despite its internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • Failures to deal effectively with fraudulent activities on emails would increase its fraud losses and harm our business and could severely diminish seller and customer confidence in and use of the company's products.
  • As the company continues to grow, the company may not be able to effectively manage its growth and the increased complexity of the company's business, which could negatively impact its brand and financial performance.
  • The Company will not receive any proceeds from the Offer for Sale. The company's Promoter Selling Shareholder will receive the proceeds from the Offer for Sale.
  • Subsequent to the listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. The company's failures to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in the company's financial condition and results of operations appearing materially different than under Indian GAAP.

The Issue type of TIPCO Engineering India Ltd is Book Building - SME.

The minimum application for shares of TIPCO Engineering India Ltd is 3200.

The total shares issue of TIPCO Engineering India Ltd is 6803200.

Initial public offer of upto 68,03,200 equity shares of face value of Rs. 10/- each (the "Equity Shares") of TIPCO Engineering India Limited ("The Company" or "TIPCO" or "The Issuer") at an offer price of Rs. 89 per equity share for cash, aggregating to Rs. Rs.60.55 Crore comprising of fresh offer of 54,48,000 equity shares aggregating to Rs. 48.49 Crore ("Fresh Issue") and an offer for sale of 13,55,200 equity shares by Ritesh Sharma ("Selling Shareholder") aggregating to Rs. 12.06 Crore ("Offer For Sale") ("Public Offer"). The offer includes a reservation of 10,20,800 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 89 per equity share for cash, aggregating Rs.9.09 Crore will be reserved for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The public offer less market maker reservation portion i.e. Net offer of 57,82,400 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 89 per equity share for cash, aggregating to Rs.51.46 Crore is herein after referred to as the "Net Offer". The public offer and net offer constituted 32.76% and 27.84% respectively of the post-offer paid-up equity share capital of the company. Price Band: Rs. 89/- per equity share of face value of Rs. 10.00 each. The floor price is 8.9 times of the face value of the equity shares. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.