New Delhi, March 25 -- The initial public offering (IPO) of Tipco Engineering entered its third and final day of bidding on Wednesday, March 25. The SME IPO opened earlier this week, on March 23.

The Rs.60.55-crore Tipco Engineering IPO is a book-built issue, comprising of fresh share sale of 0.54 crore shares aggregating to Rs.48.49 crore and offer for sale (OFS) of 0.14 crore shares worth Rs.12.06 crore.

Tipco Engineering IPO price band is set at Rs.84 to Rs.89 per share. Investors can apply for the offer in lots of 1600 shares, with retail investors required to apply for at least two lots. The minimum amount of investment required by a retail investor is Rs.2,84,800.

The company plans to use Rs.30 crore of the fresh proceeds for rep...